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AUGUST UPDATE. Auckland Property Market Looking For More Listings to Revive Momentum

The Auckland housing market has emerged from the three months of winter in a stable position but it is one which needs more listings to revive lost momentum according to Peter Thompson, Managing Director of Barfoot & Thompson.“Trading in the three months of winter and in August followed the same steady pattern of last year,” said Mr Thompson.“A pattern of modest sales numbers, prices at near record levels and new vendors hesitant to enter the market.   

 

JULY UPDATE…2019   Winter Auckland Property update.

The Auckland residential property market underwent a modest but definite shift in July with property sales prices falling and sales numbers rising.

 

 

ANZ PROPERTY UPDATE – NZ WIDE

This month we take a closer look at housing market performance across different regions in New Zealand. Weakness in the Auckland and Canterbury markets have weighed on the nationwide picture, with these regions comprising 42% of house sales combined. But a number of other regions have experienced strong price gains recently. Based on a number of metrics, we identify Gisborne, Manawatu-Whanganui, Tasman-Nelson-Marlborough and Otago as hotspots, while exceptional heat is being seen in Southland and Hawke’s Bay. In addition, Bay of Plenty, Waikato and Wellington markets are also running hot, just not as hot as they have been. Conditions can change quickly and the outlook is uncertain, but all else equal, strong demand in these markets appears conducive to further regional price increases. This delayed cycle relative to Auckland is not unusual for the New Zealand housing market. On the whole, we expect that the nationwide market will remain contained. But regional divergence is expected, with hotspots expected to continue to outperform while headwinds blow strongest in Auckland and Canterbury.

(Source and Copyright- ANZ)