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

 

Drones: First Certificate Issued Under New UAV Rules

Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say the first certified flight of an unmanned helicopter under new aviation rules is a great example of how they can enable commercial use. More>>

ALSO:

GE Swedes And Cow Deaths: Plant Analysis Backs Up Earlier Advice

The industry body is recommending that farmers do not feed Herbicide Tolerant (HT) swedes to cows in spring when the animals are in late pregnancy or early lactation. DairyNZ is also advising caution if farmers are considering other leafy varieties. More>>

ALSO:

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news