Auckland market turning for investors

Compared to this time last year, there are fewer investors in the market due to interest rates, higher prices at auctions, uncertainty about further legislation and far tighter lending rules.

REINZ’s House Price Index shows Auckland had the weakest performance of all regions over the past month resulting in a middle of the road performance compared to all regions over the past 12 months.

Data shows although Auckland’s house prices rose 21.3% annually, the region had the biggest drop at 2.3% in December from its record peak of a 3.1% increase in November. 

Average prices fell for all of Auckland’s urban districts between November and December apart from Franklin.