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


Harcourts MarketWatch August 2013

Harcourts MarketWatch

August 2013

The statistics from New Zealand’s largest real estate group Harcourts show, at current levels of sales, the country only has enough property on the market to last for 4.2 months. This is significantly down on the same time last year when there was enough stock for 6.9 months.

Overall there are 12% fewer properties for sale than there were in July 2012, however written volumes of sales are up by 13.1% across New Zealand, meaning houses are selling fast and leaving the market hungry for more.

Auckland (-10.2%) and Christchurch (-22.6%) remain the worse affected by low levels of stock, but the Central Region (-6.9%), Wellington (-8.3%) and South Island Provincial (-9.3%) are not far behind.

We are seeing prices up across the board. Although Auckland prices are up by 10% this month compared with last July, overall since March 2013 there has been a clear levelling of prices. In July the average sales price was $615,493, compared with $614,041 in March – a mere 0.3% variation over the past five months.

It remains evident low supply is the issue which needs to be resolved to ensure an overall settling of house prices. The expected introduction of loan-to-value ratio restrictions by the Reserve Bank will not address this, but will instead penalise first home buyers already struggling to enter the market. Those who can afford to pay more will continue to do so.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats: Auckland’s Population Falls For The First Time
In the wake of the COVID-19 pandemic, New Zealand’s population growth slowed down with Auckland recording a population decline for the first time ever, Stats NZ said today. “New Zealand saw slowing population growth in all regions... More>>

BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>

Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>

Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>