REINZ Market Report Regional Highlights

19 April 2002

NORTHLAND
A total of 205 homes changed hands in Northland, compared to 225 in February. The median price for the area was $176,000, up from both the $155,000 recorded in the previous month and the $173,500 for March last year, when 13 homes were sold.

AUCKLAND
In Auckland, 3,708 home settlements were recorded during March, up on the 3,120 recorded in February and up on the 2,060 homes that changed hands in March 2001. The median price for the region was $262,500 in March compared to $258,000 for February, and $247,000 recorded for March 2001.

On the North Shore, the median price rose to $290,000 for March from both the $268,000 recorded in February and the $265,000 recorded in March 2001. Home sales rose to 754 from the 442 in February 2002 and the 353 sales in March 2001.

A total of 349 homes were sold in Waitakere City, up from the 291 recorded last month and the 265 sales recorded last March. The median price was $208,500, up on both the $195,000 recorded in February and the $205,000 for March 2001.

In Auckland City 1,076 homes changed hands, well up from the 803 sales recorded in February and the 824 sales recorded in March 2001. The median price of $290,250 was up slightly on both the $280,000 recorded for February and the $289,500 recorded twelve months ago.

Home sales rose and the median sale price remained consistent on a month-to-month basis in Manukau City, with 525 homes changing hands at a median price of $250,000. This compared with 434 sales and a median price of $250,000 in February and 376 sales recorded last March at a median price of $235,000.

In the Papakura district, 75 homes changed hands, compared to 43 in February and 57 in the same month last year. The median price of $186,500 was down on both the $194,000 recorded in February 2001 and the $204,500 recorded for March 2001.

A total of 2,779 home settlements were recorded in Metropolitan Auckland, up from the 2,013 in February and the 1,875 recorded for the same month last year. The median price of $265,000 was up on both the $250,000 recorded for February 2001 and the $252,000 recorded for March 2001.

WAIKATO/BAY OF PLENTY/GISBORNE
Sales increased in the Waikato/Bay of Plenty/Gisborne region with 1,262 homes changing hands, compared to 1,245 in February. The median price was $156,500, compared with $166,000 in February and $163,000 in March 2001 when 895 homes changed hands.

HAWKE’S BAY
The sales volume rose slightly in March with a total of 330 homes changing hands at a median price of $137,500, compared to $138,000 and 263 sales in February. This compared to 300 sales and a median price of $128,000 a year ago.

MANAWATU/WANGANUI
The sales volume in the region was up with 514 home settlements recorded in March compared to 389 in February and 311 in March last year. The median price of $110,000 was down on both the $114,000 of the previous month and the $113,000 recorded in March 2001.

TARANAKI
Sales volume rose on a year-to-year basis and fell on month-to-month comparison with 196 homes changing hands compared to 220 in February. The median price rose to $115,750 for March compared to $105,250 for February. The median sales price for March 2001 was $100,000 when 156 homes were sold.

WELLINGTON
The median price in the Wellington region rose to $205,000 from the $200,000 recorded in February 2002 and the $189,050 median in March 2001. The sales volume fell on the previous month and rose on year-to-year comparison, with 1,105 recorded sales in March compared to 1,111 home sales in February 2001, and 974 sales in the same month last year.

NELSON/MARLBOROUGH
Sales volumes rose in March with 384 homes sold in the Nelson/Marlborough area, compared to 365 sales in February. The median price of $157,000 was up both on the $147,500 recorded in February, and the $146,500 recorded last March when 272 homes were sold.

CANTERBURY/WESTLAND
The median price fell in the Canterbury region at $141,000 for March, compared to $145,000 in February and the $147,000 recorded in March 2001. A total of 1,273 home settlements were recorded, down on the 1,063 recorded in February and up on the 903 sales recorded in March last year.

OTAGO
Sales volume rose in Otago on a month-to-month and year-to-year basis with 485 homes sold during March, at a median price of $107,000 compared to 392 sales and a median of $109,500 in February. In March last year 364 sales were recorded at a median price of $101,500.

SOUTHLAND
The median price fell in the Southland region from $80,000 in February to $79,750 in March. Sales volumes also fell, with 280 homes changing hands, compared to February when 340 homes were sold. This compared to a median of $79,000 last March when 247 homes changed hands.

Ends

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