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Auckland sales up 30% in June

With written sales 30% higher than June last year, Auckland is leading the real estate market recovery, according to Harcourts.

Tuesday, July 12th 2011, 12:00AM

by The Landlord

Harcourt's Hayden Duncan

However, the company said the signs of a recovering market have been tempered somewhat by a potential housing shortage.

Harcourts chief executive Hayden Duncan said that while June figures had revealed increased activity in the lower end of the market, "the national average volume of new properties entering the market is down 13%."

He said the elimination of more than 5,100 Christchurch homes had reduced the already scarce pool of choice for buyers.

"Given this, the time to sell really is now and buyers should act before a decrease in affordability arrives."

For June Harcourts reported a 30% rise in sales in the Northern region, including Auckland, while the average price fell 2.1% from $490,964 in June 2010 to $480,609.

The capital saw one of the smallest decreases in its average sales price (down 2.1% from $343,874 to $336,788) compared to other regions, and a slight increase in sales, up 2.5%.

Central North Island saw a 6.2% rise in written sales and the average price fall 6.2% from $356,141 to $334,073, though the 30% fall in new listings prompted Harcourts to advise those thinking of selling to act now, "as this scarcity of homes is showing an upward pressure on prices."

Christchurch figures have been impacted by zoning and further damage, with new listings down 26.7%, sales down 21.8% and the average price slipping 10.7% from $423,520 to $378,224.

Relocating Cantabrians have helped push written sales up 13.7% in the rest of the South Island, though the average price was down 6.4% from $327,266 to $306,450.

 

« Auckland leads nationwide property values higherAuckland great place to be a landlord: Skipper »

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Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 ▼3.09 3.25 3.39
ANZ Special - ▼2.49 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.95 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 3.05 2.99 2.99
SBS Bank Special - 2.55 2.49 2.49
The Co-operative Bank - First Home Special - - - -
The Co-operative Bank - Owner Occ 4.40 ▼2.49 2.69 2.79
The Co-operative Bank - Standard 4.40 ▼2.99 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.49 2.69 2.79
Median 4.55 2.94 2.99 2.80

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