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Feature: Regional housing market report

Find out what is happening in the regional housing markets by using the links below.

Tuesday, April 18th 2006, 12:00AM

by The Landlord

Northland
A median price of $280,000 was recorded in Northland in March 2006 (February 2006: $275,000; March 2005: $242,000). In total, 300 houses changed hands during the month, 84 more than the 216 sold in February and four more than the 296 sold in March 2005.

Auckland
The median sales price for a house in the Auckland region remained steady at $385,000 in March, the same as it was in February (March 2005: $372,500). Sales volume improved, with 3,474 houses sold during the month, a substantial improvement on the 2,374 houses sold in February (March 2005: 3,652). It took 34 median days for a house to sell in March, down from 40 in February.

North Shore's median price eased to $425,000 in March from $432,000 in February (March 2005: $443,000). Sales volume picked up, with 571 houses sold during March, up on the 415 houses sold in February (March 2005: 677).

The median price for a home in the Waitakere region fell by $10,000 to $335,000 in March from $345,000 in February. Sales volume increased though with 419 houses changing hands, up on February’s 348. In March 2005, 537 houses sold with a median sales price of $318,000.

Sales volume improved dramatically in Auckland City in March, with 1,258 houses sold, 542 more than the 716 sold in February (March 2005: 1,138). Despite the improvement in sales, the median price decreased to $410,000 in March, down on the $430,000 and $435,000 medians achieved in February 2006 and March 2005 respectively.

The median price for a house in Manukau continued to improve reaching $371,500 in March (February 2006: $365,000; March 2005: $340,000). Sales turnover also increased on a monthly basis, with 690 homes sold during the month, up on February’s 534 sales (March 2005: 809).

Sales turnover increased in Papakura in March with 122 houses sold (February 2006: 71; March 2005: 89). The median price achieved for a house in this area increased, by over $40,000 to reach $312,500, up on the $270,000 and $275,000 median sales prices achieved in February 2006 and March 2005 respectively.

The median price attained for a residential property in Metropolitan Auckland rose slightly to $385,750 in March from $385,000 in February. Sales volume rose significantly with 3,060 houses sold during the month, up from 2,084 in February. In March 2005, 3,250 houses sold with a median sales price of $375,000.

Waikato/Bay of Plenty/Gisborne
The median price for a house in the Waikato/Bay of Plenty/Gisborne region eased to $272,500 in March from $280,000 in February. Sales volume increased however, with 1,512 houses sold during the month, an improvement o February’s 1,237 sales. In March 2005, 1,778 houses sold with a median sales price of $249,000.

The median price for a house in Hamilton City improved to reach $301,000 in March, a $4,000 increase on February’s median price of $297,000 (March 2005: $252,750). Sales volume also increased on a monthly basis with 365 houses changing hands in March, up on the 317 sold in February (March 2005: 456).

Sales volume rose in the Waikato Country region in March, with 342 houses changing hands during the month, 86 more than the 256 sold in February (March 2005: 350). The median price attained on the 342 sales also eased to $210,000 from $215,000 in February (March 2005: $169,000).

The median price for a house in Mt Maunganui/Papamoa rose by $32,000 to reach $417,000 in March (February 2006: $385,000; March 2005: $380,750). Sales volume also improved on a monthly basis with 117 properties sold in March, 17 more than the 100 sold in February (March 2005: 150).

In total, 162 houses sold in Tauranga in March, 40 more than the 122 sold in February, but down on the 232 sales achieved in March 2005. The median sales price eased to $331,500 in March from $352,500 in February (March 2005: $323,500).

The median price for a house in Rotorua continued to climb reaching $210,000 in March (February 2006: $206,000; March 2005: $167,000). Sales turnover also gained ground, with 181 homes sold during the month, 54 more than the 127 sold in February (March 2005: 223).

Sales volume increased on a monthly basis in Taupo during March, with 76 homes sold, up from 71 the month prior (March 2005: 78). The median sales price achieved on the 76 sales was $321,000 (February 2006: $333,000; March 2005: $314,150).

The median price for a house in Gisborne City eased to $213,000 in March from $217,500 in February (March 2005: $190,000). Sales volume increased with 71 houses selling in March, up on February’s 64 sales and March 2005’s 63 sales.

Hawkes Bay
Sales turnover eased slightly in the Hawkes Bay in March, with 290 homes sold, two less than the 292 sold in February (March 2005: 345). Despite the ease in volume, the median sales price achieved rose to $277,750 from $255,000 in February and $240,000 in March 2005.

Manawatu/Wanganui
The median price for a house in the Manawatu/Wanganui region eased on a monthly basis to $179,500 in March from $190,000 in February. Despite the easing in price, sales volume was up with 546 homes changing hands, up on the 486 sold in February. In March 2005, 506 houses sold with a median sales price of $155,000. It took 29 median days for a house to sell in this region in March, down from 35 in February.

Taranaki
In total, 243 houses sold in Taranaki in March, an improvement on the 213 sold in February (March 2005: 269). The median sales price for a house eased however from $249,000 in February to $225,000 in March (March 2005: $220,000). It took 30 median days for a house to sell in March, down on the 37 days it took in February.

Wellington
Wellington’s median sales price improved to reach $323,000 in March, up on both the $305,000 and $289,000 median sales prices achieved in February 2006 and March 2005 respectively. Sales volume was on the rise also, with 1,145 houses changing hands in March, up from 992 in February and 1,002 in March 2005.

Both median price and sales volume declined in the Hutt Valley in March. In total, 191 houses sold during the month, 14 less than the 205 sold in February (March 2005:166). The median sales price dipped from $289,000 in February to $262,500 in March (March 2005: $247,500).

Sales volume continued to rise in Northern Wellington, with 155 houses sold during the month, up on the 108 sales achieved in February. The median sales price also gained ground reaching $370,250 in March, well up on February’s median price of $346,500. In March 2005, 121 houses sold with a median sales price of $361,000.

The median price for a house in Western Wellington increased from $457,500 in February to $461,500 in March (March 2005: $375,000). Sales turnover also increased with 68 houses sold during the month, 17 more than the 51 sold in February and 29 more than the 39 sold in March 2005.

Sales volume increased in Southern Wellington with 65 properties sold during the month, up on the 51 sold in February and the 47 sold in March 2005. The median sales price achieved on the 65 sales eased on a monthly basis from $425,000 in February to $410,000 in March (March 2005: $386,000).

The median price for a house in Eastern Wellington rose to reach $450,000 in March, a steady improvement on February’s median price of $430,000 and March 2005’s median price of $398,250. Sales volume also gained ground with 83 residential properties changing hands in March, up on both the 61 and 50 houses sold in February 2006 and March 2005 respectively.

Sales volume improved in Wellington Central in February, with 89 houses changing hands (February 2006: 77; March 2005: 84). The median price attained increased by $24,000 to reach $425,000 in March (February 2005: $401,000; March 2005: $410,000).

Nelson/Marlborough
The median price for a house in the Nelson/Marlborough region eased to $280,000 in March from $290,000 in February and $287,000 in March 2005. Despite the easing in price, sales volume improved with 358 houses sold during the month, up on both the 253 and 339 houses sold in February 2006 and March 2005 respectively.

The median price for a house in Marlborough/Kaikoura eased to $255,000 in March (February 2006; $267,000; March 2005; $240,000). Sales turnover increased however, with 143 houses changing hands during the month, up on both the 87 and 110 sales achieved in February 2006 and March 2005 respectively.

Sales volume increased in Nelson during the month, with 213 houses sold, up on the 160 sold in February. The median sales price dipped to $302,000 from $305,000 in February. In March 2005, 223 houses sold with a median sales price of $311,400.

Canterbury/Westland
Sales volume soared in the Canterbury/Westland region in March, with 1,477 houses sold, up on both the 1,164 and 1,465 sold in February 2006 and March 2005 respectively. The median sales price achieved on the 1,477 sales eased slightly to $266,050 from $267,125 in February (March 2005: $250,000).

The median price for a house in the City Central rose to $310,000 in March, up on both February’s median of $266,000 and March 2005’s median of $300,000. In total, 33 houses were sold during the month, three more than the 30 sold in February (March 2005: 41).

80 houses were sold in the North Eastern areas of Christchurch in March, 28 more than the 58 sold in February (March 2005: 89). The median sales price achieved improved slightly to reach $289,750 in March (February 2006: $287,500; March 2005: $280,000).

West Inner Christchurch’s median price rose by $33,000 to reach $299,000 in March (February 2006: $266,000). In total, 40 houses sold during the month, one more than the 39 sold the month prior. In March 2005, 30 houses sold with a median sales price of $235,000.

Sales volume improved slightly in West Outer areas with 61 houses sold in March, 19 more than the 42 sold in February (March 2005: 46). The median sales price attained decreased to $259,000 from $260,000 in February (March 2005: $210,000).

The median price achieved in North West Inner Christchurch improved significantly to reach $421,000 in March (February 2006: $383,500; March 2005: $435,000). Sales turnover followed this trend and increased with 73 houses changing hands, up on the 54 sold in February, and down on the 89 sold in March 2005.

Christchurch City’s median price remained steady at $285,000 in March, the same as it was in February (March 2005: $270,000). In total 1,015 houses sold during the month, an improvement on both the 789 and 991 sales recorded in February 2006 and March 2005 respectively.

Central Otago Lakes
In total, 108 houses sold in this region in March 2006, four less than the 112 sold in February (March 2005: 152). The median price attained on these sales also eased to $395,000 from $445,000 in February (March 2005: $397,500).

The median price for a house in Central Otago decreased to $312,500 in March, down on February’s median price of $349,000 but up on March 2005’s median price of $308,750. In total, 54 houses sold during the month, two more than the 52 sold in February and 24 less than the 78 sold in March 2005.

The median price for a house in Queenstown eased on a monthly basis to $503,500 in March from $575,000 in February. Sales volume eased slightly with 54 homes sold, down on the 60 sold in February. In March 2005, 74 houses sold with a median sales price of $482,500.

Otago
373 houses sold in Otago in March, ten more than the 363 sold in February and thirty more than the 343 sold in March 2005. The median sales price also increased to reach $219,000 in March, up on both the $210,000 and $198,000 median sales prices achieved in February 2006 and March 2005 respectively.

The median price for a house in Dunedin metro increased slightly to $238,000 in March from $228,000 in February (March 2005: $215,000). Sales also improved with 275 houses sold during the month, down on the 284 sold in February 2006, but up on the 239 sold in March last year.

Sales volume was on the rise in North Otago, where 58 houses sold in March, 21 more than the 37 sold in February (March 2005: 61). The median sales price achieved on the 58 sales increased by $1,000 to reach $146,000 (February 2006: $145,000; March 2005: $155,000).

The median price for a house in South Otago decreased to $130,250 in March from $152,000 and $141,000 in February 2006 and March 2005 respectively. Sales volume also eased with 28 houses sold in March, down on the 34 sold in February (March 2005: 28).

Sales volume increased on a monthly basis in East Otago in March, with 12 houses sold, four more than the eight sold in February and three less than the 15 sold in March 2005. The median sales price achieved fell to $177,500 in March from $183,000 in February (March 2005: $180,000).

Southland
The median price for a house in the Southland region improved slightly to reach $129,000 in March, up from $125,000 in February and $127,000 in March 2005. Sales turnover increased also with 268 houses sold, 40 more than the 228 sold in February and nine more than the 259 sold in March 2005.

« Property investors refocus on cash flow564 sections sold in one day »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 3.95 4.15 4.49
ANZ Special - 3.45 3.65 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
Lender Flt 1yr 2yr 3yr
China Construction Bank Special - 3.19 3.19 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.65 4.80 -
HSBC Premier 5.24 3.54 3.20 3.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Lender Flt 1yr 2yr 3yr
Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
Lender Flt 1yr 2yr 3yr
TSB Bank 6.09 4.19 4.35 4.69
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.50 3.95 4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.96 4.09 4.39

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