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REINZ residential highlights - August 2008

The Real Estate Institute of New Zealand's August statistics are out now. Find out what's happening in your area.

Wednesday, September 10th 2008, 4:26PM

by The Landlord

To view your region quickly, use the links below:

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, 119 houses sold in Northland in August, the same as in July (August 2007: 176). The median price eased to $285,000 from $315,000 in July (August 2007: $317,500).

Twelve houses sold in the Whangarei County area in August, two less than the 14 sold in July (August 2007: 19). The median price eased to $327,500 from $454,000 in July (August 2007: $510,000).

There 68 houses sold in Whangarei City in August (July 2008: 61; August 2007: 83). The median price dipped to $285,000 in August, from $304,000 in July (August 2007: $327,000).

Auckland
The median house price in Auckland rose to $423,500 in August, from $421,000 in July (August 2007: $450,000). In total, 1,350 houses sold, down on the 1,411 sold in July (August 2007: 2,176).

The median sales price for a North Shore City home increased to $508,000 in August, from $483,500 in July (August 2007: $550,000). 235 houses sold, up on the 230 sold in July (August 2007: 367).

Sales volume rose in Waitakere City in August with 202 houses sold (July 2008: 188; August 2007: 270). The median price rose to $374,000 from $355,000 in July (August 2007: $370,000).

The median price for an Auckland City house reached $467,500 in August (July 2008: $443,000; August 2007: $474,000). 445 houses sold in August, down on the 532 sold in July (August 2007: 748).

In August, 272 houses sold in Manukau City (July 2008: 276; August 2007: 479). The median price fell to $399,500 from $426,250 in July (August 2007: $419,000).

Sales eased in Papakura with 35 houses sold (July 2008: 38; August 2007: 57). The median price rose however, from $302,500 in July to $355,000 in August (August 2007: $365,000).

The median price for a Metropolitan Auckland house improved to reach $430,000 in August (July 2008: $425,000; August 2007: $450,000). 1,189 houses sold (July 2008: 1,264; August 2007: 1,921).

Seventy houses sold in Rodney District, up on the 68 sold in July (August 2007: 128). The median price dipped to $428,500 from $455,000 in July (August 2007: $501,500).

The median price for a Franklin District home rose to $385,000 in August, from $379,000 in July (August 2007: $355,000). 46 houses sold, four less than the 50 sold in July (August 2007: 91).

There were 45 houses sold in the Thames/Coromandel region in August, up on the 29 sold in July and the 36 sold in August 2007. The median price eased to $345,000 from $352,500 in July (August 2007: $375,000).

The median price for an Outer Auckland home dipped to $394,000 in August, from $410,000 in July (August 2007: $430,000). 161 houses sold (July 2008: 147; August 2007: 255).

Waikato/Bay of Plenty/Gisborne

The median price for a house in the Waikato/Bay of Plenty/Gisborne region eased to $316,000 from $325,000 in July (August 2008: $325,000). 577 houses sold (July 2008: 637; August 2007: 911).

Sales fell in Waikato Country in August with 101 houses sold (July 2008: 115; August 2007: 188). The median price eased to $235,000 in August from $275,000 in July (August 2007: $250,000).

The median price for a Hamilton City house dipped slightly to $334,000 from $335,000 in July (August 2007: $355,500). 146 houses again sold; the same as in July (August 2007: 208).

Sales volume eased in Western Bay of Plenty Country in August with 23 houses sold (July 2008: 47; August 2007: 55). The median price eased to $385,000 (July 2008: $400,000; August 2007: $410,000).

The median price for a house in Mt Maunganui/Papamoa dipped to $408,000 in August, from $412,500 in July and $440,000 in August 2007. 47 houses sold (July 2008: 51; August 2007: 61).

In Tauranga, 93 houses sold in August, down on the 97 sold in July (August 2007: 100). The median price eased to $336,915 in August, from $350,000 in July (August 2007: $371,500).

Rotorua’s median price rose to $277,000 in August, from $271,250 in July (August 2007: $245,000). 65 houses sold in August, six less than the 71 sold in July (August 2007: 100).

Thirty houses sold in Taupo in August, six more than the 24 sold in July (August 2007: 49). The median price eased significantly from $361,250 in July to $317,500 in August (August 2007: $335,000).

The median price for a King Country home rose substantially in August to $184,250 (July 2008: $162,500; August 2007: $145,000). 14 houses sold (July 2008: 14; August 2007: 25).  

The median price for a Gisborne City home improved to reach $290,000 in August, up from $212,000 in July and $285,000 in August 2007. 29 houses sold, down on the 31 sold in July (August 2007: 45).

Just one house sold in Gisborne Country in August, the same as in July (August 2007: two). The median price rose to $230,000 in August, from just $67,000 in July (August 2007: $275,000).

Sales eased in Eastern Bay of Plenty Country with 28 houses sold in August (July 2008: 40; August 2007: 78). The median price rose to $280,000 in August, from $257,500 in July (August 2007: $316,500).

Hawke's Bay
Sales volume increased in the Hawke's Bay in August with 177 houses sold (July 2008: 167; August 2007: 258). The median price eased however, from $282,000 in July to $265,000 in August (July 2008: $275,000).

The median price for a house in Napier City eased to $283,000 in August, from $312,000 in July and $290,000 in August 2007. 77 houses sold, six less than the 83 sold in July (August 2007: 117).

There were 74 houses sold in Hastings City in August, up on the 56 sold in July (August 2007: 89). The median price eased to $249,000 from $270,000 in July (August 2007: $275,589).

Hawke's Bay Country’s median price eased to $320,000 in August, from $430,000 in July (August 2007: $340,000). Nine houses sold during the month, one less than the ten sold in July (August 2007: 18).

Manawatu/Wanganui
The median price for a house in the Manawatu/Wanganui region eased to $231,000 in August, from $233,750 in July (August 2007: $215,000). 208 houses sold, down from 230 in July (August 2007: 289).

The median sales price for a house in Palmerston North City fell by $10,000 to $262,500 in August (July 2008: $272,500; August 2007: $270,000). 94 houses sold (July 2008: 112; August 2007: 115).

Sales eased substantially in Manawatu Country with just nine houses sold (July 2008 & August 2007: 25). The median price also eased to $196,000 from $235,000 in July (August 2007: $200,000).

The median price in the Manawatu Region dipped to $245,000 in August, from $260,000 in July (August 2007: $245,000). 164 houses sold (July 2008: 165; August 2007: 205).

There were 25 houses sold in Wanganui City in August, down on the 44 sold in July and the 64 sold in August 2007. The median price fell by $10,000 to $177,500 (July 2008: $187,500; August 2007: $171,250).

The median price in the Wanganui Region eased to $182,500 in August from $185,000 in July (August 2007: $167,500). 44 houses sold in August, down from 65 in July (August 2007: 84).

Taranaki
The median price for a house in Taranaki eased to $250,000 in August, from $265,000 in July. 147 houses sold (July 2008: 155). In August 2007, 134 houses sold with a median sales price of $257,500.

There were 16 houses sold in the Taranaki Country region in August (July 2008: 28; August 2007: 14). The median price eased slightly from $190,000 in July to $189,500 in August (August 2007: $199,250).

The median sales price for a New Plymouth City house improved to reach $300,000 in August, up from $285,000 in July (August 2007: $320,000). 70 houses sold, down on the 76 sold in July and up on the 63 sold in August 2007.

Wellington
Wellington’s median price increased to $375,000 in August, from $371,000 in July. 458 houses sold (July 2008: 503). In August 2007, 764 houses sold with a median sales price of $381,050.

There were 28 houses sold in the Wairarapa in August (July 2008: 39; August 2007: 67). The median price rose to $278,750 from $252,500 in July and $253,000 in August 2007.

The median price for an Upper Hutt house eased slightly to $286,000 in August, from $315,000 in July (August 2007: $345,000). In total, 44 houses sold, 13 less than the 57 sold in July (August 2007: 79).

For the month of August, 92 houses sold in the Hutt Valley, six less than the 98 sold in July (August 2007: 140). The median sales price eased to $330,000 during the month (July 2008: $337,250; August 2007: $317,250).

The median price for a house in Otaki/Paekakariki eased to $287,000 in August from $303,000 in July (August 2007: $357,000). 37 houses sold, down on the 65 sold in July and the 94 sold in August 2007.

Sales rose on a monthly comparison in Pukerua Bay/Tawa in August with 71 houses sold, compared to 46 in July (August 2007: 77). The median price also rose to $380,000 from $337,800 in July (August 2007: $381,000).

There were 36 houses sold in Central Wellington in August, down on the 47 sold in July. The median price eased to $351,000 in August (July 2008: $420,000). In August 2007, 117 houses sold with a median price of $374,000.

Nelson/Marlborough

The median price for a Nelson/Marlborough house eased to $328,000 in August, from $330,000 in July (August 2007: $334,000). 184 houses sold, up on the 177 sold in July (August 2007: 199).

In August 59 houses sold in Nelson City, two less than the 61 sold in July (August 2007: 71). The median sales price rose to $329,000 from $310,000 in July (August 2007: $365,000).

The median price for a Nelson Council zone house increased to $336,000 in August, from $330,000 in July (August 2007: $355,000). 109 houses sold during the month (July 2008: 107; August 2007: 123).

There were 75 houses sold in Marlborough in August, five more than the 70 sold in July (August 2007: 76). The median price eased slightly from $324,000 in July to $318,000 in August (August 2007: $315,000).

Canterbury/Westland
In total, 618 houses sold in Canterbury/Westland in August, down on the 675 sold in July (August 2007: 906). The median price eased a further $10,000 to $290,000 (July 2008: $300,000; August 2007: $310,000).

The median price for a house in Christchurch City dipped to $310,000 in August, from $316,500 in July and $324,000 in August 2007. In total, 418 houses sold (July 2008: 481; August 2007: 622).

The median price for a home in Rangiora increased to $328,000 in August, up from $290,000 in July. 23 houses sold, up on the 20 sold in July. In August 2007, 45 houses sold with a median price of $289,000.

Nine houses sold in North Canterbury in August (July 2008: 14; August 2007: 31). The median price achieved eased also to $232,500 from $247,500 in July (August 2007: $312,500).

The median price for a Canterbury Country home rose to $344,500 in August, from $335,000 in July (August 2007: $374,500). 22 houses sold, down on the 47 and 26 sold in July 2008 and August 2007.

Thirty five houses sold in Mid Canterbury in August, six more than the 29 sold in July (August 2007: 41). The median price also rose to $265,000 in August, from $257,000 in July and $250,000 in August.

Sales also improved in Timaru in August, with 35 houses sold (July 2008: 29; August 2007: 52). The median price improved to $243,570 in August, up from $230,000 in July (August 2007: $195,280).

The median price for a house on the West Coast rose to $220,000 in August (July 2008: $191,500; August 2007: $186,000). 23 houses sold, seven less than the 30 sold in July (August 2007: 29).

In August 200 houses sold in Outer Canterbury, six more than the 194 sold in July (August 2007: 284). The median price eased slightly from $263,000 in July to $259,500 in August (August 2007: $268,000).

Central Otago Lakes
In total, 60 houses sold in the Central Otago Lakes region in August, down on the 69 sold in July (August 2007: 96). The median price eased to $465,000 (July 2008: $565,000; August 2007: $474,500).

The median price for a house in Central Otago fell to $418,000 in August, from $497,500 in July. In total, 29 houses sold, up on the 26 sold in July. In August 2007, 41 houses sold with a median price of $395,000.

Sales volume dipped in Queenstown with 31 houses sold in August (July 2008: 43; August 2007: 55). The median price also eased, to $490,000 in August from $586,667 in July and $597,000 in August 2007.

Otago
Overall, 188 houses sold in Otago in August, down on the 217 sold in July (August 2007: 245). The median price eased to $230,000 from $240,000 in July and $238,000 in August 2007.

Sales volume improved slightly in North Otago with 24 houses sold (July 2008: 23; August 2007: 29). The median price eased to $189,000 in August, from $205,000 in July (August 2007: $210,000).

The median price for a house in Dunedin City remained steady at $249,500 in August, the same as in July (August 2007: $244,250). In total 152 houses sold, down on the 180 sold in July (August 207: 201).

Sales volume dipped in South Otago in August with ten houses sold, down on the 11 sold in both July 2008 and August 2007. The median price rose by $18,000 to reach $148,000 (July 2008: $130,000; August 2007: $178,000).

Two houses sold in East Otago in August, down on the three sold in July 2008 and the four sold in August 2007. The median price rose substantially however to reach $270,000 (July 2008: $135,000; August 2007: $230,000).

Southland
Sales volume rose in Southland in August with 134 houses sold (July 2008: 129; August 2007: 240). The median price increased to $190,000 in August, up on July’s median price of $172,000 and August 2007’s median price of $176,000.

Sales volume increased in Invercargill in August with 96 houses sold (July 2008: 87; August 2007: 160). The median price also rose, reaching $190,000 in August (July 2008: $183,000; August 2007: $186,000).

The median price for a house in Gore increased to $182,500 in August (July 2008: $147,500). 15 houses sold, five less than the 20 sold in July. In August 2007, 38 houses sold with a median price of $155,000.

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ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
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BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
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Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
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 3.35 3.35 3.35
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 5.80 4.30 4.20 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.45 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 - - - -
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 - ▼3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
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 - 3.55 3.45 3.99
Median 5.35 4.04 4.02 4.39

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