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

 


Sales up, prices constant in Auckland and Northland

Sales up, prices constant in Auckland and Northland

Harcourts’ figures show there were 529 residential sales in the Northern Region in May, which is down by 6.7% on the same time in 2013, but an increase of 13.2% compared to April’s sales.

The average residential property price is $696,047, an increase of 12% on the previous year’s average of $619,136. The average price for the past quarter has consistently sat between $695,000 and $697,000.

The data suggests residential properties are selling well and prices have not dropped.

Auctions account for 40% of all listings, with sales achieved at auction remaining constant.

At current levels of sale the Northern Region has enough property on hand to last for 3.5 months. This statistic highlights how limited the Auckland and Northland pool of housing is, with well-priced properties sold quickly.

Harcourts CEO Hayden Duncan says Harcourts will continue to champion the fast-tracked construction of quality houses needed to keep up with our growing population.

“We also remain on the side of first home buyers, who need more choice and the removal of LVR restrictions to help them achieve the Kiwi dream of home ownership.”

Mr Duncan says Harcourts’ data for the Northern Region’s continues to show LVR restrictions have not dampened prices or sale numbers.

http://img.scoop.co.nz/media/pdfs/1406/Northern_MarketWatch_June_2014.pdf

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news