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

 


Auckland Housing Market Makes Strong Start To The Year

Auckland Housing Market Makes Strong Start To The Year

The Auckland residential housing market made a strong start to 2014 following the Christmas/New Year break with the average house price for January reaching $647,207 and the median price reaching $580,000.

“While these values have eased back on those achieved during last November and December, this is part of the normal seasonal trading pattern,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“New listings at 1228 were excellent for a January, sales at 854 were up 4.1 percent on those for January last year and 4.5 percent on December’s, and we sold 91 homes for in excess of $1 million, which is exceptionally high for the first month of the year.

“All the indications are that the market is building to being extremely active during the first quarter of the year.

“January’s sales numbers at 854 are the highest in a January for 6 years.

“The average sales price for the month is up 7.7 percent on that for January last year, but down 7.6 percent on December’s, which itself was the highest average price ever achieved in a month.

“Buyer interest was not restricted to the top end of the market. During January we sold 334 homes for less than $500,000, or 39.1 percent of all the homes sold.

“This is the highest percentage of total sales since the Reserve Bank restrictions on bank mortgage lending were imposed, and indicates a little more flexibility on behalf of the banks towards low deposit borrowers.

“At the end of January we had 3371 properties listed, the lowest number in a January in more than 11 years.

“While this number is relatively healthy compared to many months in 2013, to be this low at the start of a year will inevitably increase pressure on prices over the next three to four months.

“Between now and May is normally one of the two high seasons in a year for house sales, and this strong start to the year suggests that the activity levels of 2013 will remain with us.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news