by Paul McBeth
What's been happening with house sales and what's around the corner? We update you on recent property reports.
Looking back:
The Real Estate Institute has been hanging out for that 'spring surge' and finally claims to have found it. National median prices and the number of sales were up in September, with agents reporting a steady flow of enquiries and a comparatively stable market.
The outlook for the residential property market in Auckland is still bullish, although confidence has fallen from earlier in the year. Confidence is waning in Christchurch, but Wellington property experts maintain a steady outlook for the city.
The latest quarterly outlook series from Massey University's Real Estate Analysis Unit points up the differences in mood in the three cities. The university surveys market experts in each area including bankers, real estate agents, valuers, property owners and analysts.
REINZ: Median price comparisons for residential property
|
Region |
September 1996 |
September 1997 |
September 1998 |
August 1999 |
September 1999 |
|
Northland |
$120,000 |
$138,750 |
$136,750 |
$140,500 |
$149,500 |
|
Auckland |
$220,000 |
$235,000 |
$225,000 |
$230,000 |
$240,000 |
|
Waikato/ BOP/ Gisborne |
$135,800 |
$150,000 |
$148,250 |
$155,000 |
$162,250 |
|
Hawkes Bay |
$117,500 |
$120,000 |
$121,250 |
$115,250 |
$121,750 |
|
Manawatu/ Wanganui |
$102,000 |
$101,500 |
$94,000 |
$101,500 |
$105,000 |
|
Taranaki |
$95,000 |
$103,500 |
$92,000 |
$93,500 |
$94,500 |
|
Wellington |
$136,500 |
$149,000 |
$165,000 |
$170,000 |
$176,211 |
|
Nelson/ Marlborough |
$135,000 |
$137,000 |
$146,000 |
$141,500 |
$138,000 |
|
Canterbury/ Westland |
$130,750 |
$137,000 |
$140,000 |
$145,000 |
$145,000 |
|
Otago |
$92,000 |
$100,000 |
$93,500 |
$104,500 |
$97,000 |
|
Southland |
$80,000 |
$80,000 |
$67,555 |
$77,750 |
$78,000 |
|
New Zealand |
$153,000 |
$163,000 |
$164,000 |
$169,000 |
$170,000 |