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REINZ Residential commentary – January 2008

The Real Estate Institute sales figures for January are now out. To read what's happening in your region and around the country use the links in this story.

Wednesday, February 13th 2008, 1:01PM

by The Landlord

To view your region quickly:

Northland
Auckland
Waikato/Bay of Plenty/Gisborne
Hawke's Bay
Manawatu/Wanganui
Taranaki
Wellington
Nelson/Marlborough
Canterbury/Westland
Central Otago Lakes
Otago
Southland

Northland


In total, 134 houses sold in Northland in January (December 2007: 147; January 2007: 209). The median price eased to $328,000, from $335,000 in December (January 2007: $305,000).

20 houses sold in the Whangarei County area (December 2007: 16; January 2007: 30). The median price fell to $395,000 from $430,000 in December (January 2007: $372,000).

66 houses sold in Whangarei City in January (December 2007: 58; January 2007: 98). The median price rose to $313,500 (December 2007: $307,050; January 2007: $289,500).

Auckland
The median house price in Auckland eased to $432,750 in January, from $460,000 in December (January 2007: $415,000). 1,550 houses sold, down on the 1,665 sold in December (January 2007: 2,468).

The median sales price for a North Shore City home eased to $495,000 in January (December 2007: $516,000; January 2007: $497,188). 248 houses sold in January, down on the 280 sold in December (January 2007: 442).

Sales volume rose on a monthly basis in Waitakere City with 186 houses sold in January (December 2007: 174; January 2007: 396). The median price rose to $381,900 from $376,250 in December (January 2007: $355,000).

The median price for an Auckland City house eased to $433,000 (December 2007: $510,000; January 2007: $425,000). 485 houses sold (December 2007: 605; January 2007: 730).

370 houses sold in Manukau City in January, up on the 337 sold in December (January 2007: 526). The median price remained steady at $430,000 in January and December (January 2007: $403,000).

Sales fell in Papakura with 51 houses sold (December 2007: 58; January 2007: 68).The median price eased to $305,000 (December 2007: $380,000; January 2007: $320,000).

The median price for a Metropolitan Auckland house dipped to $429,750, from $460,000 in December (January 2007: $417,000). 1,340 houses sold (December 2007: 1,454; January 2007: 2,162).

105 houses sold in Rodney District, down on the 114 sold in December (January 2007: 136). The median price rose to $526,000 (December 2007: $500,000; January 2007: $462,500).

The median price for a house in the Franklin District dipped to $370,000 in January from $379,000 in December. 57 houses sold, up on the 48 sold in December. In January 2007, 105 houses sold with a median price of $360,000.

48 houses sold in Thames/Coromandel in January (December 2007: 49; January 2007: 65).The median price rose to $472,000 (December 2007: $470,000; January 2007: $381,000).

The median price for an Outer Auckland home remained steady at $460,000 in both January 2008 and December 2007 (January 2007: $415,000). 210 houses sold, one less than the 211 sold in December (January 2007: 306).

Waikato/Bay of Plenty/Gisborne
The median price for a house in the Waikato/Bay of Plenty/Gisborne region dipped to $320,000 in January (December 2007: $330,000; January 2007: $307,875). In total, 712 houses sold, down on the 852 and 1,144 sold in December 2007 and January 2007 respectively.

Sales fell in Waikato Country in January with 108 houses sold (December 2007: 154; January 2007: 204). The median price also fell from $272,600 in December to $255,000 in January (January 2007: $229,850).

The median price for a house in Hamilton City fell to $325,000 (December 2007: $337,500; January 2007: $315,000). 155 houses sold (December 2007: 231; January 2007: 279).

Sales volume increased in Western Bay of Plenty Country with 71 houses sold, up on the 57 sold in December. The median price eased to $397,000 from $400,000 in December. In January 2007, 85 houses sold with a median price of $413,500.

The median price for a house in Mt Maunganui/Papamoa eased to $410,500 in January (December 2007: $450,500; January 2007: $420,000). 60 houses sold, down on the 76 and 105 sold in December 2007 and January 2007 respectively.

96 houses sold in Tauranga in January, two more than the 94 sold in December (January 2007: 137). The median price fell to $341,500 from $362,000 in December (January 2007: $353,000).

Rotorua’s median price rose to $281,000 in January, well up on December’s median price of $255,000 (January 2007: $240,000). 81 houses sold in January, ten less than the 91 sold in December (January 2007: 142).

58 houses sold in Taupo in January, up on the 36 sold in December (January 2007: 46). The median price eased to $362,500, from $382,500 in December (January 2007: $344,750).

The median price for a King Country home fell to $146,000 in January (December 2007: $217,000; January 2007: $154,000). 18 houses sold during the month, eight more than the ten sold in December (January 2007: 22).

The median price for a Gisborne City home reached $278,000 in January, up from $257,500 in December. 27 houses sold during the month, seven less than the 34 sold in December. In January 2007, 59 houses sold with a median sales price of $243,000.

Three houses sold in Gisborne Country in January, up on the two sold in both December and January 2007. The median price eased to $150,000 (December 2007: $230,000; January 2007: $298,500).

The median price for a house in Eastern Bay of Plenty Country eased to $253,500 in January, from $298,000 in December (January 2007: $286,000). 35 houses sold during the month, down on the 67 and 63 sold in December 2007 and January 2007 respectively.

Hawke's Bay
Sales volume eased in the Hawke's Bay in January with 217 houses sold, down on the 246 sold in December and the 319 sold in January 2007. The median price rose however, from $273,267 in December to $280,000 in January (January 2007: $280,000).

The median price for a house in Napier City dipped to $292,500 from $309,000 in December. 94 houses sold, five less than the 99 sold in December. In January 2007, 138 houses sold with a median price of $306,000.

87 houses sold in Hastings City in January, six more than the 81 sold in December (January 2007: 125). The median price also rose to $285,000 (December 2007: $281,000; January 2007: $275,000).

The median sales price for a Hawkes Bay Country home reached $292,500 in January, a substantial improvement on December’s median price of $240,000 (January 2007: $310,000). 15 houses sold during the month, down on the 26 sold in December (January 2007: 15).

Manawatu/Wanganui
The median price for a house in the Manawatu/Wanganui region eased to $230,000 in January (December 2007: $244,000; January 2007: $215,000). In total, 270 houses sold (December 2007: 289; January 2007: 405).

The median sales price for a house in Palmerston North City reached $269,000 in January (December 2007: $267,500; January 2007: $249,500). 95 houses sold (December 2007: 121; January 2007: 153).

Sales volume eased slightly in Manawatu Country with 24 houses sold in January, down on the 28 sold in December (January 2007: 27). The median price also eased to $211,000 in January (December 2007: $220,000; January 2007: $180,000).

The median price in the Manawatu Region dipped to $250,000 in January, from $255,000 in December (January 2007: $234,500). 176 houses sold during the month, down on both the 211 and 264 sold in December 2007 and January 2007 respectively.

68 houses sold in Wanganui City in January, 11 more than the 57 sold in December (January 2007: 102). The median price eased however, to $179,500 (December 2007: $195,000; January 2007: $159,250).

The median sales price in Wanganui Region eased to $179,500 in January (December 2007: $194,400; January 2007: $168,500). 94 houses sold, up on the 78 sold in December (January 2007: 141).

Taranaki
The median sales price for a house in Taranaki increased to $263,000 in January (December 2007: $260,000; January 2007: $272,500). 173 houses sold in January, 23 more than the 150 sold in December (January 2007: 222).

27 houses sold in the Taranaki Country region in January (December 2007: 25; January 2007: 52). The median price rose to $285,000 (December 2007: $232,500; January 2007: $205,000).

The median sales price for a New Plymouth City house rose to $311,000 (December 2007: $293,500; January 2007: $318,500). 74 houses sold (December 2007: 70; January 2007: 94).

Wellington
Wellington’s median price eased to $366,750 in January, from $370,000 in December (January 2007: $351,868). 594 houses sold (December 2007: 598; January 2007: 769).

60 houses sold in the Wairarapa in January, up on the 52 sold in December (January 2007: 92). The median price eased to $256,500 from $266,000 in December (January 2007: $236,000).

The median price for an Upper Hutt house eased to $326,500 (December 2007: $340,500; January 2007: $325,000). 58 houses sold (December 2007: 68; January 2007: 80).

135 houses sold in the Hutt Valley in January, up on the 129 sold in December (January 2007: 186). The median price eased to $310,000 (December 2007: $314,500; January 2007: $335,000).

The median price for a house in Otaki/Paekakariki eased to $325,500 in January (December 2007: $337,000). 74 houses sold, down on the 101 sold in December. In January 2007, 125 houses sold with a median sales price of $327,500.

Sales volume rose in Pukerua Bay/Tawa in January, with 75 houses sold (December 2007: 46; January 2007: 77). The median price also gained ground reaching $368,000 (December 2007: $360,000; January 2007: $368,500).

38 houses sold in Central Wellington in January (December 2007: 49; January 2007: 51). The median price rose to $453,500 from $415,000 in December (January 2007: $400,000).

Nelson/Marlborough
The median price for a Nelson/Marlborough house rose to $340,000 in January (December 2007: $338,000; January 2007: $307,000). 212 houses sold during the month, down on the 249 and 237 sold in December 2007 and January 2007 respectively.

77 houses sold in Nelson City in January (December 2007: 97; January 2007: 82). The median price increased to $340,000 (December 2007: $320,000; January 2007: $335,000).

The median price for a house in the Nelson Council zone reached $340,000 in January, up from $330,000 in December (January 2007: $319,000). 130 houses sold, down on the 155 and 130 sold in December 2007 and January 2007 respectively.

82 houses sold in Marlborough in January (December 2007: 94; January 2007: 104). The median price eased to $343,700 from $355,000 in December (January 2007: $295,000).

Canterbury/Westland
Sales volume eased in Canterbury/Westland with 780 houses sold in January (December 2007: 825; January 2007: 1,130). The median price also eased from $315,000 in December 2007 to $310,000 in January (January 2007: $290,000).

The median price for a house in Christchurch City slipped to $325,500 in January, from $336,000 in December. Sales volume also eased with 524 houses sold, down on the 527 sold in December. In January 2007, 737 houses sold with a median price of $315,000.

The median price for a home in Rangiora increased substantially to $362,500 in January (December 2007: $284,000; January 2007: $290,000). 26 houses sold, down on the 34 sold in December 2007 (January 2007: 48).

The median price for a North Canterbury house eased to $275,500 in January (December 2007: $297,155; January 2007: $300,500). 30 houses sold, up on the 16 sold in December (January 2007: 32).

The median price for a house in Canterbury Country dipped to $388,750 in January (December 2007: $390,000; January 2007: $363,500). 34 houses sold, down on the 43 and 40 sold in December 2007 and January 2007 respectively.

28 houses sold in Mid Canterbury in January (December 2007: 36; January 2007: 51). The median price eased to $230,500 from $287,500 in December (January 2007: $255,000).

49 houses sold in Timaru in January (December 2007: 52; January 2007: 68). The median price fell slightly to $219,000 from $234,000 in December (January 2007: $209,500).

The median price for a house on the West Coast reached $210,000 in January (December 2007: $185,000; January 2007: $187,750). 38 houses sold during the month, up on the 31 sold in December (January 2007: 56).

256 houses sold in Outer Canterbury in January (December 2007: 298; January 2007: 393). The median price eased to $265,000 from $270,000 in December (January 2007: $246,000).

Central Otago Lakes
118 houses sold in January, down on the 124 sold in December and the 155 sold in January 2007. The median price rose however, to $476,500 (December 2007: $419,000; January 2007: $432,200).

The median price for a house in Central Otago increased significantly to $449,000 in January (December 2007: $363,000; January 2007: $366,250). 77 houses sold, four less than the 81 sold in December (January 2007: 88).

Sales volume eased in Queenstown in January with 41 houses sold (December 2007: 43; January 2007: 67). The median price increased to $585,000 from $550,000 in December (January 2007: $510,000).

Otago
243 houses sold in Otago, down on the 260 sold in December (January 2007: 286). The median price eased to $235,000 (December 2007: $250,050; January 2007: $221,750).

Sales volume increased in North Otago with 44 houses sold (December 2007: 34; January 2007: 54). The median price eased to $174,750 (December 2007: $202,500; January 2007: $175,500).

The median price in Dunedin City dipped to $250,000 in January from $260,000 in December (January 2007: $239,500).181 houses sold (December 2007: 208; January 2007: 198).

Sales volume improved in South Otago with 12 houses sold (December 2007: 11; January 2007: 27). The median price eased to $135,000 (December 2007: $176,000; January 2007: $130,000).

Six houses sold in East Otago in January (December and January 2007: seven). The median price eased to $181,500 (December 2007: $231,000; January 2007: $305,000).

Southland
Sales volume fell in Southland with 183 houses sold (December 2007: 192; January 2007: 222). The median price increased to $225,000 from $191,000 in December (January 2007: $156,000).

Sales volume eased in Invercargill in January with 113 houses sold, down on the 125 and 162 sold in December 2007 and January 2007 respectively. The median price rose however, from $199,000 in December to $232,000 in January (January 2007: $165,000).

The median price for a house in Gore eased in January to $155,500 (December 2007: $164,500; January 2007: $87,250). In total, 26 houses sold, two less than the 28 sold in December (January 2007: 26).


« Property investors refocus on cash flowREINZ reveals poor January performance »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.45 3.99
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
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
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 4.80 4.95 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank ▼5.20 ▲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 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.45 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
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.45 3.99
Median 5.34 3.99 4.07 4.39

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