Provisional housing market update October 2014
Provisional housing market update
November 2014, Auckland and Northland
Press Release: Harcourts
3 November 2014
Provisional residential data from New Zealand’s largest real estate group Harcourts for the month of October shows written sales have jumped by 5% compared to August, when winter was taking its heaviest toll on sales. Spring is clearly having a positive effect on the property market.
Stock levels are up by 16% on the same time last year, however the number of properties available are still not keeping up with demand.
The average sales price in Auckland and Northland sits at $666,740, which is up 3% on the same time last year. Prices continue to trend upwards, despite the Reserve Bank’s LVR restrictions, as a growing population has the inevitable effect on prices.
Auctions continue to be the sales method of choice for Aucklanders, accounting for over 40% of new listings.
Full statistical data from Harcourts for residential sales in the month of October will be available on 10 November.