Harcourts Market Watch to 13th February 2019 contains some interesting insights into the New Zealand market.
The New Zealand average national house price in January 2019 increased by 2.59% from $554,016 in January 2018 to now sit at $568,391.
But the average has fallen since a November peak of $638,992, a fall of 12%! In addition written sales decreased from a high of 2,168 in March 2018, and is lower this January than last.
In Auckland, the average house price in January was back 10.15%
on the same recorded period for 2018 with the average for the month
sitting at $840,825.
Total listings, new auctions and written sales remained down on the
previous year in the country’s biggest city. The market is changing,
and this has been well reported across all media outlets.
In Wellington which includes the Taranaki and Hawke’s Bay regions,
the average sale price is up 11.64% on the same period in 2018 from
$468,546 to now sit at $523,099. Total new listings were
only slightly back on January 2018 with 303 versus 300 listings, a small
change of 0.99%.
In Christchurch, the average house price has increased from $520,458
in January 2018 to $564,876 in January 2019 which is an uplift of 8.53%;
starting 2019 the right way.
Written sales are back 3.5% from 314 to 303 alongside property
currently listed with Harcourts back 7.38% from 1518 to 1406 when
we measure January 2019 against January 2018.
For the Central Region, taking in Bay of Plenty and Waikato,
the average sale price has risen by 13.99% to now sit at $547,742
for January 2019. New auctions, written sales and total listings have
all increased over the same recorded period signalling prosperity in
this region.
In the provincial South Island, the average sale price has seen a 2.59%
increase on January 2018 rising from $410,911 to now sit at $421,563
in January 2019. All other measures were back on the same recorded
period; however, this region still remains one of the most affordable
to buy in throughout New Zealand.
