Property prices based on the stratified pricing model remained stable in May at $481,225 – this level has been consistent around the $480,000 mark for most of this year. Compared to 2009 prices are up 3.7%.
Property sales remained flat on a seasonally adjusted basis with 1,664 in May as compared to 1,665 in April. Sales for the first 5 months of 2010 reflect a 5% lower level than the same period on 2009.
Inventory of houses on the market fell slightly in May from the April peak of 41 weeks of sale to 38 weeks, this continues to be slightly ahead of the long term average in the region of 32 weeks.
In overall terms the property market across Auckland continues to be steady, certainly a more robust level of activity compared to other regions of the country.
The Auckland region – Property market pulse factsheet for June 2010 is available as a download pdf document.