Article supplied by REINZ: The Real Estate Institute of New Zealand released its monthly report earlier this morning with pleasing results. The number of properties sold in January across New Zealand was up 3.2% on the same time last year (from 4459 to 4603) making it the busiest January in 4 years according to the latest data.
Whilst the overall number of sales in January decreased by 2 in Manukau City (from 214 to 212), sales across the Auckland Region increased by 115 with the number of days to sell decreasing by a substantial 8 days.
Bindi Norwell, REINZ CEO, commented ““Prices in Auckland continue to hover in the upper $800,000’s, increasing 8.7% year-on-year to $875,000. There were more investors in the South Auckland market compared to this time last year and an increase in the number of out of town enquiries. A number of ‘Baby Boomers’ are also now looking to sell and move outside the Auckland region which should hopefully contribute to an increase in listing numbers.”