The Property Market Post-Covid19
There was almost an 80% fall in the number of property sales across New Zealand in April as Covid19 level 4 lockdown made it very difficult for property sales. Given these facts the usual sales data is pretty well meaningless. More important will be the results following lockdown level 4 and level 3.
Property News March 2020
Pre Covid19 New Zealand house prices were increasing across the country. Sales numbers were strong especially in Auckland. At the end of March house prices were up 13.7% across New Zealand compared to 12 months ago.
The Property Market February 2020
The performance of the New Zealand residential property market in February was nothing short of stellar. The median house price across New Zealand increased by 14.3% in the last 12 months to a new record of $640,000.
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January 2020 Real Estate Market Update
As predicted last year the housing market is set to boom in 2020. January saw the highest number of residential sales for a January month in 4 years.
Nationally sales were 0.9% higher than 12 months ago. Auckland was up 9.7% year on year.
Nelson, Manawatu / Whanganui, Bay of Plenty and Marlborough all had sales increases of more than 10% over January 2020. Prices too are continuing to rise strongly.
The median price increased in all of the 16 regions of New Zealand.
The property market is December 2019
More sales and higher prices was the message for December as 2019 came to a close. Nationally in 2019 the median house price rose by 12.3%, starting the year at $560,000 and
ending at $630,000 in December.
In Auckland the median house price rose by $30,000 to $890,000 which was a mere 3.5% increase. Only the West Coast region saw a fall in the median price in 2019 which was down 13.6% to $190,000.
The other 15 regions all had price increases.
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There is little doubt now that Auckland house prices are on the rise and joining the vast majority of regions in New Zealand. Yet another new record high for the national median price of $630,000 up 8.6% from $580,000 in November 2018.
Ten of the regions set new record highs. Manawatu / Wanganui equalled its record high. Only two regions – Northland and Tasman saw falls in median price compared to November 2018. All 4 major cities show median price increases for the last 12 months. Dunedin 14.4%, Christchurch 5.2%, Wellington 12.1% and Auckland 2.9%.
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There is Gold in Christchurch!
Housing Market in October 2019
House prices in New Zealand reached a new record high in October. The national median price is now $607,500 which is up $46,000 or 8.6% from 12 months ago.
In Auckland the median price rose by $7,000 or 0.8% from a year ago. At $868,000 this is the highest Auckland price in 19 months. The increase from the previous month was 2.4%.
The only region in New Zealand to experience a decrease in median price for the last 12 months was Taranaki with a small fall of 0.5%. All other regions saw increases and new records were set in:
Bay of Plenty $620,000 up 7.8%
Northland $525,000 up 9.4%
Waikato $570,000 up 9.6%
Otago $550,000 up 15.8%
Hawkes Bay $535,000 up 16.3%
Manawatu / Wanganui $407,500 up 20.9%
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The story of September was one of rising house prices across New Zealand. The median NZ house price rose to $597,000 up 6.6% compared to 12 months ago.
New record median prices were recorded in:
Waikato $550,000 up 5.6% from September 2018
Hawkes Bay $500,000 up 13.4% from September 2018
Taranaki $400,000 up 15.9% from September 2018
Southland $315,000 up 22.1% from September 2018
Manawatu / Whanganui $397,000 up 24.1% from September 2018
August Real Estate Activity
Lower sales across New Zealand, 6.1% lower than August last year. The lowest number of sales for 7 months were:
Southland –33.2% 62 less sales
Hawkes Bay –18.4% 42 less sales
Taranaki –16.6% 31 less sales
Sales were up in the following areas:
Bay of Plenty +7.7%
The main reason for the fall is the lowest number of new listings for the last 3 consecutive months since 2007.
Latest Property Market Update
Early signs of growth in the housing market seems to be appearing according to the July real estate data. Prices nationally are still showing some growth. The median price increased by 1.7% nationally and by 2.4% in Auckland over the past month. The volume of sales also shows upward movement.
Nationally sales increased by 3.7% and Auckland by 6.6% year on year. The numbers were 6,118, up from 5,897 and for Auckland 1,894, up from 1,777. The average days to sell was 3 days longer
nationally now at 40 days. For Auckland also 3 days longer at 44 days. Both are compared to July last year.