The Auckland – Manukau 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 Manukau region of Auckland at 390 in the month rose slightly on a seasonally adjusted basis in May and were up 7% 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 at $466,000 was up 6% as compared to a year ago, but down on 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.