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Auckland – Waitakere Property Pulse factsheet – May 2011

Posted on: June 15th, 2011 | Filed in Auckland Property Market Factsheet

The Auckland – Waitakere property pulse factsheet for May 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales in the Waitakere area of Auckland at 320 in the month rose on a seasonally adjusted basis in May and were up a significant 34% on May 2010. The inventory of unsold houses fell markedly to 30.6 weeks which sees it now sitting below the long-term average of equivalent sales.

The median sales price for property in the Waitakere region of Auckland at $375,000 is down 6% as compared to a year ago and down from the prior month. The asking price expectation of new listings also fell to $533,071, although it is up 3% as compared to a year ago.

The level of new listings coming onto the market across the Auckland region in May at 3,417 showed significant weakness down 11% as compared to a year ago.

 

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