The Real Estate Institute of NZ (REINZ) released its October monthly report today. Bindi Norwell, CEO of REINZ commented “The Auckland region saw the highest median price in 19 months with an increase of 0.8%, compared to the same time last year, reaching $868,000”. October 2018’s median price was $861,000. The high, whilst it is welcomed, is still down on Auckland’s October 2016 median price of $878,500.
Norwell continued, “Interestingly, with new listings down -19.8% in the region, sales were only slightly down by -0.1%, 3 less sales than the same time last year. Anecdotally, we are seeing positive activity from first home buyers, and good interest from investors. Some open homes have had 50+ groups through in their first weekend, especially with listings in the sub $1,500,000 price range. There are a good number of new developments coming to the market in the Eastern and South Auckland suburbs”.
We look forward to seeing an increase of activity over the coming months with more properties coming to the market.
This portfolio was a reflection of the variety of property type across our Eastern Beaches area, to satisfy the variety of buying criteria, for young to older alike plus investment options. Buyers , in particular, are taking advantage of quality property listings to focus on their requirements for the new … Read more
The beginning of a new month with sale results that will give both sellers and buyers added confidence as we move through the remaining weeks of this year. Buyers , in particular, are taking advantage of quality property listings to focus on their requirements for the new year, be that … Read more