The Auckland region property pulse factsheet for May 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales across the Auckland region at 2,749 in the month rose significantly on a seasonally adjusted basis in May and was up 28% on May2011. The inventory of unsold houses slipped lower again to 20.6 weeks, this inventory continues to track well below the long-term average of 33 weeks of equivalent sales.
The stratified median house price at $529,050 rose 8% as compared to a year ago and continues to show the steady growth now over the past 18 months. The asking price expectation of new listings also rose to $578,533 also up 8% as compared to a year ago.
The level of new listings coming onto the market across the Auckland region in May at 3,833 was up 12% as compared to a year ago, well below the rate of sales growth.