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REINZ Residential Highlights - April 2008

Among the 12 residential real estate districts seven saw their medians increase and five experienced further falls.

Monday, May 12th 2008, 4:16PM

by The Landlord

Northland

In total, 101 houses sold in Northland in April (March 2008: 153; April 2007: 241). The median price increased to $359,000 from $325,000 in March (April 2007: $320,000).

15 houses sold in the Whangarei County area (March 2008: 22; April 2007: 27). The median price rose significantly to $518,000 from $421,250 in March (April 2007: $387,000).

49 houses sold in Whangarei City in April, down on the 66 sold in March (April 2007: 115). The median price rose to $334,000 (March 2008: $310,500; April 2007: $315,000).

Auckland

The median house price in Auckland rose to $450,000 in April, from $437,500 in March (April 2007: $452,000). 1,350 houses sold in April, down on the 1,621 sold in March (April 2007: 2,843).

The median sales price for a North Shore City home remained steady at $510,000 in both April and March 2008 (April 2007: $540,000). 249 houses sold during the month, 20 less than the 269 sold in March (April 2007: 535).

Sales volume fell in Waitakere City in April with 170 houses sold (March 2008: 210; April 2007: 390). The median price dipped to $370,000 (March 2008: $373,634; April 2007: $380,000).

The median price for an Auckland City house fell to $463,000 in April (March 2008 and April 2007: $510,000). 491 houses sold in April, down from 551 in March (April 2007: 909).

264 houses sold in Manukau City in April (March 2008: 352; April 2007: 595). The median price also increased to $426,500 from $390,000 in March (April 2007: $425,000).

Sales eased in Papakura with 26 houses sold (March 2008: 46; April 2007: 130).The median price also eased to $295,000 (March 2008: $329,500; April 2007: $335,000).

The median price for a Metropolitan Auckland house rose to $445,000 in April, up from $440,400 in March (April 2007: $459,000). 1,200 houses sold (March 2008: 1,428; April 2007: 2,559).

73 houses sold in Rodney District, down on the 102 sold in March (April 2007: 134). The median price reached $500,000, up from $482,500 in March (April 2007: $459,250).

The median price for a Franklin District home rose to $410,000 in April, from $365,000 in March (April 2007: $358,000). 43 houses sold in both April and March 2008 (April 2007: 89).
34 houses sold in Thames/Coromandel in April, down on the 48 sold in March (April 2007: 61). The median price rose to $450,000 from $365,000 in March (April 2007: $380,000).

The median price for an Outer Auckland home increased to $457,500 in April, from $420,000 in March (April 207: $412,250).150 houses sold, down on the 193 sold in March (April 2007: 284).

Waikato/Bay of Plenty/Gisborne

The median price for a house in the Waikato/Bay of Plenty/Gisborne region eased to $315,000 in April (March 2008: $320,000; April 2007: $312,500). 630 houses sold, down on the 677 and 1,194 sold in March 2008 and April 2007 respectively.

Sales fell in Waikato Country in April with 127 houses sold (March 2008: 150; April 2007: 237). The median price increased to $258,000 (March 2008: $253,750; April 2007: $245,000).

The median price for a Hamilton City house rose to $340,000 in April, from $332,000 in March (April 2007: $337,750). Sales volume was steady, with 149 houses sold in both April and March 2008 (April 2007: 256).

Sales volume improved in Western Bay of Plenty Country with 42 houses sold, up on the 38 sold in March. The median price eased to $405,000 from $440,000 in March. In April 2007, 83 houses sold with a median sales price of $340,000).

The median price for a house in Mt Maunganui/Papamoa increased to $468,000 in April, from $450,000 in March (April 2008: $431,250). 51 houses sold, down on the 57 and 84 sold in March 2008 and April 2007 respectively.

74 houses sold in Tauranga in April, down on the 79 sold in March (April 2007: 165). The median price reached $352,500, up from $350,000 in March (April 2007: $370,000).

Rotorua's median price eased to $237,500 in April, down from $254,000 in March (April 2007: $240,000). 68 houses sold, down on the 78 sold in March (April 2007: 141).

15 houses sold in Taupo in April, down on the 39 sold in March (April 2007: 63). The median price fell from $335,000 in March to $317,500 in April (April 2007: $380,000).

The median price for a King Country home increased to $160,000 in April (March 2008: $152,000; April 2007: $165,000). 17 houses sold (March 2008: 15; April 2007: 24).

The median price for a Gisborne City home dropped to $222,000 from $237,500 in March (April 2007: $275,000). 39 houses sold, five more than the 34 sold in March (April 2007: 67).

Just one house sold in Gisborne Country in April (March 2008: 0; April 2007: five). The price of the sole sale was $110,000 compared to $279,000 in April 2007.

The median price for a house in Eastern Bay of Plenty Country increased to $320,000 in April, up from $271,250 in March (April 2007: $260,000). 47 houses sold, up on the 38 sold in March and down on the 69 sold in April last year.

Hawke's Bay

Sales volume eased in the Hawkes Bay in April with 161 houses sold (March 2008: 180; April 2007: 295). The median price rose to $275,000 (March 2008: $267,000; April 2007: $280,000).

The median price for a house in Napier City reached $290,500 in April (March 2008: $279,000; April 2007: $303,500). 73 houses sold in April (March 2008: 78; April 2007: 138).

63 houses sold in Hastings City in both April and March 2008, down from 98 in April 2007. The median price eased to $270,000 from $284,000 in March (April 2007: $280,000).

Hawkes Bay Country's median price improved to reach $468,000 in April, from $298,000 in March (April 2007: $466,750), but on the back of lower sales, with just seven homes sold in April (March 2008: 13; April 2007: 14).

Manawatu/Wanganui

The median price for a house in the Manawatu/Wanganui region rose to $239,000 in April (March 2008: $225,000; April 2007: $230,000). 228 houses sold in April, up on the 224 sold in March (April 2007: 458).

The median sales price for a house in Palmerston North City dipped to $275,500 in April (March 2008: $294,500; April 2007: $283,000). 94 houses sold (March 2008: 82; April 2007: 165).

Sales improved in Manawatu Country with 21 houses sold (March 2008: 16; April 2007: 42). The median price fell to $198,000 from $211,000 in March (April 2007: $213,750).

The median price in the Manawatu Region eased to $245,000 in April, from $255,000 in March (April 2007: $250,000). 169 houses sold (March 2008: 160; April 2007: 316).

42 houses sold in Wanganui City in April, one more than the 41 sold in March (April 2007: 99). The median price rose to $217,000 from $180,000 in March and $162,500 in April 2007.

The median sales price in Wanganui Region improved to reach $200,000 in April, up from $174,500 in March (April 2007: $165,000). 59 houses sold (March 2008: 64; April 2007: 142).

Taranaki

The median price for a house in Taranaki rose to $269,000 in April (March 2008: $253,500; April 2007: $275,000). 163 houses sold, up on the 156 sold in March (April 2007: 196).

23 houses sold in the Taranaki Country region in April (March 2008: 28; April 2007: 33). The median price rose to $235,000 from $212,500 in March (April 2007: $216,000).

The median sales price for a New Plymouth City house declined to $307,500 (March 2008: $340,000; April 2007: $305,000). 80 houses sold in April (March 2008: 62; April 2007: 96).

Wellington

Wellington's median price fell to $375,000 in April, from $410,000 in March (April 2007: $377,900). 560 houses sold, down on the 603 sold in March (April 2007: 842).

41 houses sold in the Wairarapa in April (March 2008: 51; April 2007: 93). The median price eased to $230 from $243,000 in March and $237,000 in April 2007.

The median price for an Upper Hutt house eased to $340,000 from $350,000 in March (April 2007: $325,250). 85 houses sold, up on the 61 sold in March (April 2007: 84).

99 houses sold in the Hutt Valley, down on the 111 sold in March (April 2007: 173). The median price remained steady at $315,000 in both April and March 2008 (April 2007: $333,000).

The median price for a house in Otaki/Paekakariki dipped to $334,750 in April (March 2008: $358,000; April 2007: $335,000). 66 houses sold (March 2008: 65; April 2007: 99).

Sales eased in Pukerua Bay/Tawa in April, with 52 houses sold (March 2008: 71; April 2007: 89). The median price fell to $381,850, from $385,000 in March (April 2007: $365,000).

44 houses sold in Central Wellington in April (March 2008: 45; April 2007: 81). The median price eased to $392,500, down from $540,000 in March and $430,000 in April 2007.

Nelson/Marlborough

The median price for a Nelson/Marlborough house reached $336,500 in April, from $315,000 in March (April 2007: $330,300). 194 houses sold (March 2008: 203; April 2007: 257).

60 houses sold in Nelson City in April (March 2008: 70; April 2007: 88). The median price rose to $325,000 from $307,500 in March (April 2008: $312,000)).

The median price for a Nelson Council zone house eased to $333,000 in April (March 2008: $338,000; April 2007: $335,000). 109 houses sold (March 2008: 119; April 2007: 152).

85 houses sold in Marlborough in April (March 2008: 84; April 2007: 105). The median price increased to $342,000 from $311,250 in March and $320,000 in April 2007.

Canterbury/Westland

Sales volume eased in Canterbury/Westland with 643 houses sold in April (March 2008: 821; April 2007: 1,174). The median price eased to $300,000 from $311,000 in March (April 2007: $310,000).

The median price for a house in Christchurch City eased to $320,000 in April, from $335,000 in March (April 2007: $335,000). 419 houses sold (March 2008: 540; April 2007: 773).

The median price for a home in Rangiora increased to $359,000 in April (March 2008: $300,000; April 2007: $340,000). 24 houses sold (March 2008: 29; April 2007: 40).

The median price for a North Canterbury house eased to $305,000 in April, from $347,000 in March (April 2007: $296,500). 12 houses sold, down on the 27 sold in March (April 2007: 36).

The median price for a Canterbury Country home eased to $355,000 in April, from $385,000 in March (April 2007: $372,250). 28 houses sold (March 2008: 30; April 2007: 46).

36 houses sold in Mid Canterbury in April (March 2008: 50; April 2007: 66). The median price dipped to $263,500 from $267,500 in March and $265,000 in April 2007.

Sales eased in Timaru in April, with 36 houses sold (March 2008: 53; April 2007: 70). The median price rose to $241,250 in April, from $230,000 in March (April 2007: $209,000).

The median price for a house on the West Coast remained steady at $180,000 in both April and March 2008 (April 2007: $176,000). 37 houses sold, up on the 35 sold in March (April 2007: 44).

224 houses sold in Outer Canterbury in April (March 2008: 281; April 2007: 401). The median price increased to $268,500 in April from $268,000 in March (April 2007: $260,000).

Central Otago Lakes

72 houses sold in April, down on the 85 sold in March (April 2007: 159). The median price eased to $454,000 in April, from $480,000 in March (April 2007: $430,000).

The median price for a house in Central Otago decreased to $385,000 in April (March 2008: $450,000; April 2007: $384,500). 31 houses sold (March 2008: 53; April 2007: 73).

Sales volume increased in Queenstown with 41 houses sold in April, up on the 32 sold in March (April 2007: 86). The median price rose to $530,000 (March 2008: $502,500; April 2007: $529,500).

Otago

211 houses sold in Otago in April, down from 242 in March (April 2007: 311). The median price eased slightly to $235,000 from $241,000 in March (April 2007: $227,000).

Sales volume eased in North Otago with 30 houses sold (March 2008: 50; April 2007: 67). The median price eased to $192,500 from $227,000 in March (April 2007: $185,000).

The median price in Dunedin City eased to $245,000 in April from $265,500 in March (April 2007: $260,000). 156 houses sold (March 2008: 162; April 2007: 201).

Sales volume also fell in South Otago with 17 houses sold (March 2008: 26; April 2007: 36). The median price rose slightly to $140,000, from $139,500 in March (April 2007: $185,000).

Eight houses sold in East Otago in April, double the four sold in March (April 2007: seven). The median price also improved, reaching $190,500 in April (March 2008: $161,250; April 2007: $230,000).

Southland

Sales volume eased in Southland with 151 houses sold (March 2008: 165; April 2007: 224). The median price rose however, reaching $215,000 (March 2008: $190,500; April 2007: $164,500).

Sales volume eased slightly in Invercargill in April with 97 houses sold (March 2008: 101; April 2007: 146). The median price rose to $215,000 (March 2008 $213,000; April 2007: $175,550).

The median price for a house in Gore remained steady at $145,000 in both April and March 2008 (April 2007: $111,500). 21 houses sold during the month, down on the 37 and 38 sold in March 2008 and April 2007 respectively.

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Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
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Resimac 4.50 4.86 3.89 3.94
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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 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
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Median 5.34 3.99 4.07 4.39

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