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.
The level of inventory available for sale currently sits at 21 weeks, one week less than in May 2017.
Bindi Norwell, REINZ CEO, says “As we head into winter, the Auckland market appears to have stabilised its median price around the $850,000 mark, with a slight increase from April to $852,000 in May, although the median is down on last year’s median $862,800. This suggests that Auckland has found its new normal and bodes well for a positive, but stable market as the industry heads towards the quieter months of the year. That said, with listings hovering around the 9,000 mark, any new properties to the market are attracting a lot of buyer
Compared to May 2017: • Median Price down 1.3% • Sales Count up 5.4% • Days to Sell unchanged Compared to April 2018: • • • • •
Median Price up 0.2% Seasonally adjusted median price down 0.4% Sales Count up 22.8% Seasonally adjusted sales count up 1.1% Days to Sell increased 3 days
Median Sale Price for May 2018
O
ur seasonally adjusted results tell us that, compared to what we expect when moving from April to May, the observed minute increase in median price was fractionally less than expected and the observed increase in sales count was slightly greater expected. The current Days to Sell of 40 days is more than the 10-year average for May which is 35 days.
Winter 2018
interest, but we also see new parties weekly on properties that have been on the market longer. Investors continue to be active, though a bit more careful. Vendors still prefer to sell by a ‘no price’ strategy and there are regular multi-offer situations. However, buyers seem to respond quicker to priced properties compared to the ‘by negotiation’ ones. There is no real reason for any immediate change and this could very well turn out to be the third winter in a row where interest has continuously remained positive.” $852,000
AUCKLAND REGION
$760,000
Waitakere City
$905,000
Rodney District
$679,000
Papakura District
$987,500
North Shore City
$825,000
Manukau City
$710,000
Franklin District
$940,000
Auckland City
REINZ Residential Statistics Report for May 2018 “$27k price increase sees New Zealand hit new record median price in May”, says REINZ “The record price for New Zealand of $562,000 continues to highlight the buoyancy of the housing market across the country. Of the 16 regions in New Zealand 13 saw an annual price increase - 5 of which were doubledigit increases showing that the demand for good property continues unabated. Only three regions saw a year-on-year price decrease - Auckland, Gisborne, and Southland,” says REINZ Chief Executive, Bindi Norwell. For more REINZ HPI information, see https://www.reinz.co.nz/reinz-hpi
Northland
$475,000
Auckland
$852,000
Waikato
$510,000
Bay of Plenty
$589,700
Gisborne
$280,000
Hawke’s Bay
$430,000
Manawatu/Wanganui
$305,000
Taranaki
$352,500
Wellington
$567,000
Nelson
$511,000
Marlborough
$425,000
Tasman
$612,000
West Coast
$220,000
Canterbury
$442,000
Otago
$440,000
Southland
$240,000
NZ excluding Auckland
$455,000
NEW ZEALAND
$562,000
38
Median days to sell in MAY
$562,000
national median sale price The REINZ House Price Index shows: New Zealand
+3.7% on May 2017
NZ ex Auckland
+6.8% on May 2017
Auckland
+0.6% on May 2017
New Zealand
-0.1% on April 2018
NZ ex Auckland
+0.4% on April 2018
Auckland
-0.6% on April 2018
BOTANY DOWNS
PAKURANGA HEIGHTS
PAKURANGA
Multiple Living Options
Family Home Plus Consented Sleepout!
Get More For Your Money - Income Opportunity
3
4
4
2
ID# RX1508557
1
ID# RX1479894
2
EAST TAMAKI
NORTHPARK
PAKURANGA
Walk To Botany College - Immediate Possession
Price Reduced - Vendor Says Sell!
Vendors Downsizing - Must Sell!
3
4
4
2
ID# RX1426730
2
ID# RX1418677
3
FLAT BUSH
HOWICK
BOTANY DOWNS
Immaculate Brick & Tile Home
Central Howick Brick & Tile
Vendor Moving Out of Auckland
4
3
3
2
2
ID# RX1462021
1
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)