Provisional housing market update

Provisional housing market update

June 2016 Auckland and Northland

4 July, 2016

During the month of June the average house price in Auckland and Northland sat at $912,576.

Provisional data from New Zealand’s largest real estate group Harcourts, shows that low stock levels continue to be the main driver in pushing prices up.

There are currently 1,475 houses for sale on Harcourts’ books in Auckland and Northland.

At current levels of sale, with no further new listings, this would be enough to last for 2.3 months.

The figures come the day after Prime Minister John Key announced a new $1 billion fund to fast-track infrastructure development by councils with high new housing demand.

Harcourts CEO Chris Kennedy says he has been calling for fast tracked building of quality medium density houses to ease the housing crisis, and the government’s move is a step in the right direction.

“If we look at the population projections, the housing shortage is going to get worse. We need improved infrastructure and an improved and expedited consents process to make building more attractive to developers.”

Mr Kennedy says first home buyers should not lose heart, and there are options available for them.

“Our lending arm, Mortgage Express, will do everything they can to help you into your first home, and our sales team can show you were the best value for money in and around Auckland is.”

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