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

 


Provisional housing market update for July 2014

Provisional housing market update

August 2014, Auckland and Northland

Press Release: Harcourts

4 August 2014

Provisional residential data from New Zealand’s largest real estate group Harcourts for the month of July shows there has been a decrease in the number of new listings. While this is not unusual for winter, the drop is significant enough to point to other factors at play.

Harcourts CEO Hayden Duncan says there is an overall lack of housing stock and people are hesitant about listing their house for sale because they fear they will not be able to buy elsewhere. Others are holding onto property when they buy somewhere new, as rental returns are so lucrative. As a result, the provisional data shows listings have dropped by 38% compared to the same time last year.

When houses are listed they are selling quickly and for good prices. The average price in Auckland and Northland is sitting at $670,656.

There is likely to be a resurgence in the number of listings come spring time, so buyers considering selling would be wise to do so now.

Hayden Duncan says the current climate is a good time for sellers to take advantage of lower levels of competition coupled with strong selling prices.

Meanwhile, Harcourts is continuing to push for the timely and quality construction of new homes to keep up with the demands of our growing population.

Full statistical data from Harcourts for residential sales in the month of July will be available on 11 August.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news