Provisional housing market update

November 2014, Auckland and Northland

Press Release: Harcourts

3 November 2014

Provisional residential data from New Zealand’s largest real estate group Harcourts for the month of October shows written sales have jumped by 5% compared to August, when winter was taking its heaviest toll on sales. Spring is clearly having a positive effect on the property market.

Stock levels are up by 16% on the same time last year, however the number of properties available are still not keeping up with demand.

The average sales price in Auckland and Northland sits at $666,740, which is up 3% on the same time last year. Prices continue to trend upwards, despite the Reserve Bank’s LVR restrictions, as a growing population has the inevitable effect on prices.

Auctions continue to be the sales method of choice for Aucklanders, accounting for over 40% of new listings.

Full statistical data from Harcourts for residential sales in the month of October will be available on 10 November.