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MARKET WATCH

Local Harcourts Newsletter - September 2015

Newsletter 1

Harcourts Newsletter - September 2015

 

Harcourts MarketWatch

National MarketWatch for September 2015

The latest residential housing figures from Harcourts, New Zealand’s largest real estate group, show written sales up strongly across the country last month, with a 33.8% increase on the same period in 2014.

There were also clear signs of Auckland’s heated market spreading to the other parts of the country with a sharp 67.6% in written sales recorded in the Central Region, compared to August 2014. That region also recorded a 174.2% increase in auctions compared to the same period last year, as vendors in areas such as Tauranga and Hamilton, try to meet the demand of Auckland buyers looking to invest outside the country’s largest city.

Auction figures were up across the country as a general supply shortage has vendors making the most of demand.

Meanwhile, ongoing demand in Auckland is still pushing house prices up, with the average sale price in last month at $817,580, up 25% on the same period in 2014. House prices were up and 9% across the country compared to August last year, with Wellington the only region to record a small dip.

Harcourts CEO Hayden Duncan says while parts of the country have been through a typically quiet winter period, the ongoing increases in the number of sales are a sign there a plenty of vendors and buyers still active in the market.

“With mortgage rates so low, and indications the Reserve Bank will reduce the OCR again before the end of the year, it seems unlikely the residential market is going to slow much before Christmas.”

Hayden Duncan
Chief Executive Officer
Harcourts New Zealand

 


 

NATIONAL: Written Sales Year to date

National

August 2015

August 2014

% Change

Total New Listings

2383

2185

9.1%

New Auction / Tender Listings

944

524

45.6%

Property on Hand

7384

8853

-16.6%

Written Sales

2080

1554

33.8%

Average Price

$513,608

$469,485

9%


 


 

NORTHERN: Written Sales Year to date

Northern

August 2015

August 2014

% Change

Total New Listings

829.5

651.5

27.3%

New Auction/Tender Listings

501

225

122.7%

Property on Hand

1624

1764

-7.9%

Written Sales

646

471

37.2%

Average Price

$817,580

$654,429

25%


 


 

CENTRAL: Written Sales Year to date

Central

August 2015

August 2014

% Change

Total New Listings

438

423

9.7%

New Auction/Tender Listings

170

62

174.2%

Property on Hand

1392

2109

-34%

Written Sales

543

324

67.6%

Average Price

$349,147

$327,904

6%


 


 

WELLINGTON: Written Sales Year to date

Wellington

August 2015

August 2014

% Change

Total New Listings

275

336

-18.2%

New Auction/Tender Listings

55

44

25%

Property on Hand

1008

1418

-28.9%

Written Sales

274

243

12.8%

Average Price

$351,054

$380,611

-8%


 


 

CHRISTCHURCH: Written Sales Year to date

Christchurch Metro

August 2015

August 2014

% Change

Total New Listings

457

493.5

-7.4%

New Auction/Tender Listings

192

175

9.7%

Property on Hand

1911

1876

1.9%

Written Sales

384

332

15.7%

Average Price

$496,023

$488,772

1.0%


 


 

SOUTH ISLAND: Written Sales Year to date

South Island Provincial

August 2015

August 2015

% Change

Total New Listings

299

231

29.4%

New Auction/Tender Listings

26

18

44.4%

Property on Hand

1279

1581

-19.1%

Written Sales

202

168

20.2%

Average Price

$336,112

$298,746

13%


 


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