The Auckland North Shore property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales on the North Shore of Auckland totaled 460 in July identical to June, which on a seasonally adjusted basis showed a strong rise. As compared to July 2011 sales were up 26%. The inventory of unsold houses across the wider Auckland region at 18.9 weeks remains firmly well below the long-term average of 32 weeks of equivalent sales.
The median sales price for properties sold on the North Shore in July at $615,000 was up 12% from a year ago. The asking price expectation of new listings across the wider Auckland region rose in the month and recorded a 6% rise as compared to July last year to $574,932.
The level of new listings coming onto the market across the wider Auckland region in July at 3,667 were up 21% as compared to a year ago.
The data indicates that the North Shore of Auckland continues to show strong growth in the market, demand for property is strong which has been the case for over the past 9 months, this matched to low inventory and strong selling price appreciation places the market firmly to the advantage of sellers who are able to influence the market direction through supply management.