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

 

myvalocity property trend reports for a 24 month period

myvalocity property trend reports for a 24 month period up until the end of May 2016

http://img.scoop.co.nz/media/pdfs/1607/RAW_DATA_Auckland_Property_Trend_Report_myvalocity.pdf

http://img.scoop.co.nz/media/pdfs/1607/VISUAL_Auckland_Property_Trend_Report_over_24_months_up_until_end_of_May_2016_myvalocity.pdf

Tauranga – The Big Picture

Tauranga has experienced strong growth over the past year with an increase in median sales price of 28.5%. A number of factors would seem to be helping drive this increase including confidence in low interest rates, a lack of supply (even though new building consents are up 9%) and the flow on effect from the strong Auckland property market.

Tauranga is seen as a more affordable place to purchase property with an average sale price of $550,000. Demand is strong for properties under $400,000 however the greatest volume of sales are of properties ranging in price from $400,000 to $900,000 which accounts for nearly 75% of the market.

Hamilton – The Big Picture

Hamilton has seen very similar growth as Auckland over the past two years with an increase in Median Sale Price of approximately 30%. The Median Sale Price of $480,000 as at May 2016 sits just below the National Median of $485,500. Like Tauranga, the Hamilton property market is also being driven by its proximity to Auckland with changes in Loan to Value Ratio’s forcing investors to look elsewhere with many purportedly buying up in Hamilton as properties are seen as being more affordable and are able to produce greater returns.

Wellington – The Big Picture

Wellington appears to be following the nationwide trend with relatively steady growth. The Median sales price has seen some fluctuation but is trending upward. In 2016 that the Median Sales Price in Wellington of $487,000 moved ahead of the National Median Sales Price of $485,500.

Demand is highest for homes under $600,000 with a lack of supply in the $300,000 to $500,000 price bracket which is likely to be a contributing factor in pushing prices upward. The housing stock appears to be sufficient across most of the other price brackets. New building consents are down indicating a lack of demand for new homes.

Christchurch – The Big Picture

The Christchurch Property Market has been relatively stable although has had a slight increase in the Median Sales Price of 5.2%.

The percentage of housing stock per value band appears to be sufficient to cope with demand across most of the price bands except for homes in the under $300,000 price band. New building consents has also slowed supporting indications that market growth in Christchurch is easing.

The Median Sales Price in Christchurch now sits at $457,500 which is 5.8% below the National Median Sales Price.

Dunedin – The Big Picture

With the Median Sales Price in Dunedin sitting at $300,000 as at May 2016, well below the National Median Sales Price of $485,500, Dunedin could represent itself as an affordable city to live. The Property Market in Dunedin has been relatively steady over the past two years with year on year change of 5.3% in the Median Sales Price.

Demand is well supported by supply, with a greater percentage of housing stock available across most of the price bands other than for homes under $200,000. This finding is also further supported by the 0% change in new building consents.

Disclaimers

Property information

1. The property information (including data) contained within reports issued by Valocity is not intended or designed to replace a full market valuation. If you need a property valuation for lending, tax or other purposes then you should seek a full market valuation from a registered valuer.

2. Valocity will use its reasonable endeavors to check the accuracy of the information contained in any report. However, the accuracy of such information (including the estimated value and estimate of selling range) is not guaranteed by Valocity.

3. Valocity will use its reasonable endeavors to check that the property statistics contained within reports are substantially complete and free of errors or defects. However, you acknowledge that from time to time, errors may occur.

4. The information supplied by Valocity as part of the Services:

(a) is not a certified copy of any district valuation roll entry;

(b) is drawn from third party sources which are independent of and outside the control of Valocity;

(c) is not warranted for lending purposes; and

(d) is not a registered valuer's report for the purposes of the Trustee Act 1956.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>

ALSO:

Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>

ALSO:

ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>

ALSO:

Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>

ALSO:

RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>

ALSO:

Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>

ALSO:

Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>

ALSO:


Telecoms: Spark Welcomes Spectrum Allocation And Prepares For 5G Rollout Over The Next 12 Months

Spark welcomes spectrum allocation and prepares for 5G rollout over the next 12 months Spark today welcomed the announcement of the direct allocation process of 5G spectrum, with the Company to be offered management rights to 60 MHz of 3.5 GHz ... More>>

ALSO:



Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>

ALSO:

RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>

ALSO:

Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>

ALSO:

Government: Tax Changes Throw Cash Lifeline To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>

ALSO:

Statistics: Some Indicators Pick Up As New Zealand Moves Out Of Lockdown

New Zealanders moved around more in the main centres and used more fuel and power while weekly exports held up as the country left the COVID-19 level 4 lockdown, Stats NZ said today. COVID-19 data porta l, our new webpage, includes about 40 near-real-time ... More>>

ALSO:



University Of Canterbury: Astronomers Discover The Science Behind Star Bursts That Light Up The Sky

University of Canterbury (UC) astronomers are part of an international team that has revealed how explosions on the surface of a white dwarf star can increase its brightness by thousands or millions of times making it look like a new star. For ... More>>

RNZ: International Passenger Numbers At Auckland Airport Drop 95 Percent

Auckland Airport says international passengers numbers have dropped more than 95 percent in the first 20 days of April over the year earlier. More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: