What's happening in the market right NOW
Read Here
News

NZ remains buoyant throughout the summer holidays

By Alison Borland

Article supplied by REINZ

Despite most New Zealanders taking a summer holiday in January, the housing market was busier and more buoyant than we would usually see at this time of the year, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.

Bindi Norwell, Chief Executive at REINZ says: “Usually, in January the residential property market slows down, and prices ease off a bit as people head to the beach for their summer holidays. However, the first month of 2021 was
anything but normal, as house prices across the country, have continued to rise with January seeing four regions reach new record median prices and one region equal its December record.

Although the median house price in Auckland was down from December 2020,  it increased 14.9% year-on-year to $1,000,000 in January 2021, up from $870,000 in January 2020. The fear of missing out continues to be a factor in the increased volume of sales as January saw a 37.6% increase from the same time last year, with owner-occupiers and investors acting quickly before LVR restrictions are reinstated in March this year.

“The increased sales volume activity has resulted in busier open homes and the speed at which properties are selling has remained low for this time of the year. New developments across the region have added to the stock level, contributing to the 37.4% increase in listings and has meant that only a slight decrease in total inventory levels from the same time last year.”

If you have any questions at all about the Real Estate Market or are interested in listing your property, don't hesitate to contact us.  We will be happy to help.


Your Contact Details

Up to Date

Latest News

  • The importance of pre-approvals: All you need to know

    ARTICLE SUPPLIED BY BRUCE PATTEN, LOAN MARKET The property boom is showing no signs of letting up any time soon. It’s super competitive out there with many vendors receiving multiple offers within just a few days of going on the market. So, if you are looking to purchase your first … Read more

    Read Full Post

  • Median House Price in Auckland reaches a new high

    Article supplied by REINZ Auckland’s median house price increased by 18.5% from $945,000 in March 2020 to $1,120,000 in March 2021 – a new record for Auckland. Additionally, Auckland City, Manukau City, North Shore City, Papakura District and Rodney District all reached new record median highs. Wendy Alexander, Acting Chief Executive … Read more

    Read Full Post