Each month we publish a factsheet for each region of the country as well as a national report to provide an insight to the key numbers that detail the health of the property market across the country.
These reports for the month of November cover all 16 provincial regions as well as reports covering the 3 main metropolitan regions of Auckland, Wellington and Christchurch. The Auckland report is divided up into each of the main metro areas (North Shore, Waitakere, Manukau as well as Auckland City).
Each factsheet provides the key numbers in table and chart form using the key statistics from the Real Estate Institute of NZ and Realestate.co.nz. This provides the number of property sales in the month, the median sales price for those property sales, the inventory of unsold properties on the market, as well as the number and the asking price expectation of new listings brought onto the market in the month.
National Property Pulse
The national NZ property pulse factsheet for November 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales across the country totalled 6,008 in the month showed a strong rise on a seasonally adjusted basis in November and a significant 17% rise as compared to November 2010. The inventory of unsold houses on the market at 38 weeks of equivalent sales continues to sit below the long-term average of 41 weeks indicating that the market in overall terms is favouring sellers, although this bias is primarily being seen in the metro areas of Auckland and Christchurch.
The stratified mean sales price for property sales across the country at $372,225 is up 3% as compared to a year ago, and continues to show a steady rise over the past year and is now at a 3 year high. The asking price expectation of new listings slipped slightly from the peak seen in October; for the month of November the asking price was $425,956, which is 2% up as compared to a year ago.
The level of new listings coming onto the market in November at 13,369 showed a significant rise from October and is 3% up on a year ago.