Election affecting sales activity: Harcourts
New auctions and written sales were down significantly in August compared to the year before in Harcourts’ Northern region.
Thursday, September 11th 2014, 12:00AM
by The Landlord
The agency has released statistics which show the number of total listings was down 2.7%, while new auctions dropped 21.2%.
The region covers Auckland and Northland.
Property on hand increased by 26.5% in August compared to the year before as written sales dropped 18.1%.
The average sales prices increased 9% to $657,859 from $604,952 in August 2013.
Harcourts said the election was taking a toll on listings and sales. “This is a pattern that regularly occurs in election year, with people holding back from making decisions around buying and selling until after the government for the next three years is determined. We will expect recovery post September 20, which will also be aided by the warmer spring weather.”
Chief executive Hayden Duncan said the cause of the housing shortage had not been addressed. He said timely and large-scale construction of new homes was needed to cope with Auckland’s rapidly increasing population.
“Housing developers will remain reluctant until fees and building costs are reduced and the Government expedites the consents process.”
| « QV: Price rise slowdown continues | Turnover down again in REINZ stats » |
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