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Property market analysis for the Northern Region
Regional Overview:
Written sales are up by 0.4% on the same time last year, but have jumped by 9% 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 16.8% on the same time last year, however the number of properties available are still not keeping up with demand. In this highly competitive market, auctions continue to be the sales method of choice for Aucklanders, accounting for over 44% of new listings. The average sales price in Auckland and Northland sits at $669,698, which is up 4% 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.
Full document: Northern_Region_MarketWatch_November_2014.pdf
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