Property Talk with Highland
Park
The trend in the median price has flattened over the past 18 months with the volume trend recently flattening from a falling trend. The days to sell trend continues to ease. The House Price Index is remaining fairly steady, remaining effectively the same as 12 months ago.
O
ur seasonally adjusted results tell us that, compared to what we expect when moving from June to July, the observed decrease in median price was fractionally smaller than expected and the observed decrease in sales count was greater than expected. The current Days to Sell of 41 days is more than the 10-year average for July which is 34 days. The level of inventory available for sale currently sits at 22 weeks, one week less than in July 2017. Compared to July 2017: • Median Price down 0.1% • Sales Count up 2.1% • Days to Sell increased 4 days Compared to June 2018: • Median Price down 1.8% • Seasonally adjusted median price up 0.3% • Sales Count down 8.0% • Seasonally adjusted sales count down 4.3% • Days to Sell increased 1 day
Median Sale Price for July 2018
Bindi Norwell, REINZ CEO, says “The Auckland median house price of $835,000 remains at similar levels to last July’s median house price of $836,000. Though we are seeing a slower market, which is typical for midwinter, there are early spring signs that this is changing. The overall market is starting to grow in sales numbers, compared to the same period last year. However, there is a growing number of lower priced housing in eastern and southern areas that have come on the market
SPRING 2018
and with that we see an increase of first home buyer interest in these areas. Most vendors are being realistic, especially at the end of an auction campaign. However, they can be slow to respond to softer conditions, if price reductions are required to meet the market expectations. As we move closer to spring, it will be interesting to see what will happen in the market.”
$952,000 $950,000
Pakuranga Pakuranga Heights
$671,500 $832,000 $995,000 $1,095,000 $957,000 $730,000 $1,110,000
Manukau Manukau City Howick Half Moon Bay Botany Downs Highland Park Dannemora
REINZ Residential Statistics Report for July 2018 “July brings price rises for all regions bar Auckland”, says REINZ. “The shortage of properties available for sale across the country is continuing to push prices up in all regions across the country except for Auckland. With July producing another four regions with record median prices we desperately need to increase the supply of new houses - be that through Kiwibuild or from private developers and builders - in order to fill the significant shortage of properties around the country,” says REINZ Chief Executive, Bindi Norwell. For more REINZ HPI information, see https://www.reinz.co.nz/reinz-hpi
Northland
$481,000
Auckland
$835,000
Waikato
$513,000
Bay of Plenty
$575,000
Gisborne
$305,500
Hawke’s Bay
$430,000
Manawatu/Wanganui
$295,000
Taranaki
$375,000
Wellington
$545,000
Nelson
$547,000
Marlborough
$453,500
Tasman
$550,000
West Coast
$225,000
Canterbury
$428,500
Otago
$425,000
Southland
$249,000
NZ excluding Auckland
$455,000
NEW ZEALAND
$550,000
37
Median days to sell in JUNE
$550,000
national median sale price The REINZ House Price Index shows: New Zealand
+4.9% on July 2017
NZ ex Auckland
+8.0% on July 2017
Auckland
New Zealand
+1.6% on July 2017
-0.6% on June 2018
NZ ex Auckland
+1.1% on June 2018
Auckland
0.0% on June 2018
COCKLE BAY
MOUNT ROSKILL
SUNNYHILLS
Room For A Boat
Beautifully Refurbished - Single Level Home
Sought-after Location & Schools
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3
3
2
ID# RX1544120
1
ID# RX1636433
1
PAKURANGA HEIGHTS
BOTANY DOWNS
PAKURANGA
Family Home Plus Sleepout
Multiple Living Options
Vendors Downsizing - Must Sell!
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4
4
1
2
3
FLAT BUSH
HOWICK
BOTANY DOWNS
Immaculate Brick & Tile Home
Central Howick Brick & Tile
Vendor Moving Out of Auckland
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3
3
2
2
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Finding Buyers - It’s What We Do Best! The team at Mike Pero can save you thousands with their 2.95%* commission Innovative Marketing, Great Results! You can’t sell a secret, so list with Mike Pero today! and get SOLD! Check out my website suzannemcdowell.co.nz and LIKE me on Facebook! @suzannemcdowell.mpre
Lauren McDowell 09 216 8532 / 021 022 65422 lauren.mcdowell@mikepero.com
Suzanne McDowell 09 215 2787 / 027 494 2405 suzanne.mcdowell@mikepero.com
Mike Pero Real Estate Ltd Licensed REAA (2008)