The Auckland – Waitakere property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales in the Waitakere area of Auckland totaled at 329 in the month only just less than the total in June. On a seasonally adjusted basis sales were up on June and up a very significant 39% on July 2011. 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 property in the Waitakere region of Auckland at $416,000 is up 7% as compared to 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 Waitakere region of Auckland continues to show strong demand which has been the case for over 18 months and especially in the past 7 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.