Auckland’s housing market soars to life
Auckland’s property market ended 2019 on a high, new data from the Real Estate Institute shows.
The number of residential properties sold nationwide in December was up 12.3 per cent from the same time last year, at 6285.
Real Estate Institute chief executive Bindi Norwell said that was equal to an additional 22 houses a day. But in Auckland, the number sold was up almost 32 per cent, at 1860.
That is the highest number of houses sold in Auckland in any December since 2015.
Bay of Plenty’s turnover also lifted 21.5 per cent and Southland’s 18.3 per cent. Northland was up 17.3 per cent.
The country’s median price also lifted 12.3 per cent year-onyear in December, to $629,000.
Auckland’s median was up 3.5 per cent to $890,000.
‘‘December saw 15 out of 16 regions with annual increases in the median house price and five regions with record median prices, reflecting the continued uplift in residential property prices that we have seen for a number of months now,’’ Norwell said.
‘‘Southland, Manawatu¯ / Whanganui and Gisborne again saw really strong uplifts in price, with demand for properties in these regions outstripping supply and adding to the premium people are prepared to pay.
‘‘There is also likely to be an element of increasing vendor expectations adding to the price increases as month after month sellers in the region are reading stories of higher property prices.
‘‘Wellington was also a standout region in December, with four areas seeing new record median prices – Ka¯piti Coast District ($675,000), Masterton District ($477,000), Porirua City ($775,800) and South Wairarapa District ($625,000) showing the continued strength of the capital city’s property market,’’ Norwell said.
‘‘Looking at the Auckland region, Manukau City hit a new record median high of $900,000 in December, with Rodney district not far behind with a median of $890,000.
‘‘North Shore City also saw a
7.1 per cent annual uplift in median price, reaching $1,050,000 – the first time the median has been over the million-dollar mark in four months.’’
The national days-to-sell measure dropped by four days to 31. Northland had the country’s highest number of days to sell, at
45.
National inventory – the properties available for sale on the market – decreased in every region.
Taranaki’s inventory dropped
47.3 per cent from December 2018 to December 2019, to the lowest level since records began.