Grey Lynn drops out of Top 10 list of sale volumes
21 March 2019
For immediate release
Grey Lynn drops out of Top 10 list of Auckland’s highest sale volume suburbs, says REINZ
After making its entrance into the Top 10 list of highest sale volume suburbs in 2017, trendy inner-city suburb Grey Lynn has again fallen out of the Top 10 list, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.
Additionally, Henderson jumped two places to take out sixth place and Manurewa has made it back into the Top 10 list after an absence in 2017.
Bindi Norwell, Chief Executive at REINZ says: “With 209 sales throughout the 2018 year and a median price that fell 7.7% from $1.3 million to $1.2 million, Grey Lynn fell out of the Top 10 highest sale volume suburbs in Auckland leaving space for Henderson to make its way further up the rankings and Manurewa to return to the Top 10 list.
“There were 32 more sales in Henderson in 2018 than in 2017 and a $15,000 increase in median price to $745,000, but with plenty of parks, great views of the Waitakere Ranges, access to some of the amazing west coast beaches and an off-peak drive of 21 minutes into the city, it’s easy to see why Henderson has made its way up the list,” says Norwell.
“Manurewa had 20 more sales in 2018 when compared to 2017 and a 1.6% increase in median price (from $620,000 to $630,000), but it was enough to see the suburb make the Top 10 list. Again, Manurewa has some fantastic parks, it’s got huge cultural diversity, good access to public transport and is affordable, so it’s easy to see why Manurewa has moved up the list,” points out Norwell.
With median prices hovering around the $1.8 million mark and a reasonably solid number of sales, it’s not surprising that Remuera has remained Auckland’s highest sale volume suburb for the last three years running. The same is true for Auckland Central; the more than 1,200 sales is what has allowed the CBD to keep its second place in the list for three years running despite a median price in the mid-to low $400,000s.
“While you might expect to see the likes of Takapuna, Herne Bay or Saint Mary’s Bay in the Top 10 list, the small number of sales in these areas is what keeps them out of the Top 10 list,” concludes Norwell.