Today is Friday, 21 January 2022

Our Take on the Market

September 2021 data recently released by the Real Estate Institute of NZ show that Auckland activity is currently curtailed by the level 3 lockdown restrictions however the median house price in Auckland increased 20.4% to $1,150,000 from $955,000 in September 2020. This figure was down 4.2% from its record $1,200,000 in August 2021. All Auckland districts have shown year-on-year median price growth.
The median house price for New Zealand excluding Auckland increased by 23.1% from $585,000 in September 2020 to a new record of $720,000. This figure marks an increase of 2.9% from August 2021 ($700,000) showing activity and property demand remains in the market after the easing of COVID-19 Alert Level restrictions outside of Auckland.
Lockdown has had an impact on sales across New Zealand, with a decrease of 37.9% compared to September last year, and a decrease of 9.7% on the prior month. Also effected is the days to sell with the median number of days to sell a property increasing by 5 days across New Zealand, from 32 days in September 2020, to 37 in September 2021.
For New Zealand excluding Auckland, the median number of days to sell increased by 8 days from 29 to 37 days in September 2021 – Auckland saw a decrease of 1 day in the median number of days to sell a property – from 36 in September 2020 to 35 in September 2021 — the lowest September median days to sell since 2007
Listings remain tight with the total number of properties available for sale in New Zealand decreasing year-on-year by 23.7% in September 2021 to 13,407, down from 17,576 in September 2020 – 4,169 fewer properties compared to 12 months ago. However, this is an increase of 9.5% from August 2021.
As restrictions are looking to ease leading up to Christmas and given the usual spring activity there is an expectation that more properties will come to the market in the lead up to Christmas.

Please feel free to contact me anytime on 0274966966 to discuss your property needs.
Greg Roy AREINZ, Principal/Owner