Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Auckland House Prices Hold On To Higher Values In December

January 8, 2013

Media statement

Auckland House Prices Hold On To Higher Values In December

The average price of homes sold in Auckland increased by $41,590 or 7.7 percent in 2012 to $584,715 when compared to 2011’s average price.

“While this is the highest percentage increase in five years, it follows on three years of average price increases that failed to keep pace with the rate of inflation,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“December was another month of strong trading, with 920 sales in the month at an average price of $624,015.

“This was the highest number of sales in a December for eight years.

“The average price achieved remained high, with it being down less than $4000 on November’s all-time record average price of $627,721.

“The average price for each of the past three months has now exceeded $600,000, setting a new benchmark.

“While new listings in December are normally relatively low compared to the rest of the year, this December’s new listings at 697 were exceptionally modest, and the lowest recorded in a month for the past decade. They were down 17.6 percent on those for last December.

“It was also the first time in the past decade when we listed fewer homes in a month (697) than the number of homes sold (920).

“At the end of December we had only 3410 properties on our books, the lowest number since records have been kept, and 10.6 percent lower than we had at the end of November.

“December’s trading followed the same trend experienced for most of the second half of 2012.

“87 homes, or 9.5 percent of all homes sold in December, reached values in excess of $1 million while 42.8 percent of all the homes sold were for less than $500,000, in line with the percentage for this price category in November.

“With new listings and the total number of listings being at all-time lows, and with mortgage lending rates forecast to remain steady for the first half of 2013, the outlook for the early part of this year is for prices to hold on to the gains made in the last quarter of 2012.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Restrictions Lifted: No Further Tau Flies Found

The Ministry for Primary Industries (MPI) confirms that all restrictions on the movement of fruit and vegetables in Manurewa, Auckland, due to the Tau fly, have been lifted as of 2.26pm on Sunday 7 February. More>>

Crowdfinding: Awaroa Beach To Become Public Land If Appeal Succeeds

Conservation Minister Maggie Barry says a privately-owned beach will become part of the Abel Tasman National Park if an online crowdfunding campaign to buy it succeeds... More>>

ALSO:

Meat Workers Union: Waitangi Mondayisation Flaunted By Large Employer Of Maori

At the AFFCO Talley owned meat plant in Rangiuru, the company has resorted to bullying and threats... saying they could be disciplined and their union sued for an unlawful strike if workers exercise their rights to a paid day off tomorrow. More>>

Earlier:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news