The REINZ published their August 2019 report, which says the number of residential properties sold across New Zealand in August decreased by -6.1% from the same time last year to 5,959 (down from 6,346), the lowest level of sales for 7 months.
For New Zealand excluding Auckland, the number of properties sold decreased by -6.9% when compared to the same time last year (to 4,198 down from 4,509).
In Auckland, the number of properties sold in August decreased by -4.1% year-on-year (to 1,761 down from 1,837) the lowest in 4 months.
Breaking this down showed volumes actually only fell in Auckland City (-14.0%), North Shore City (-13.0%) and Manukau City (-5.4%). Whereas they increased by 43.0% in Papakura District, 16.2% in Franklin District, 13.8% in Rodney District and 0.4% in Waitakere City showing how mixed the Auckland region is.
Median house prices across New Zealand increased by 5.5% in August to $580,000, up from $550,000 in August 2018. These results are in line with the REINZ House Price Index (HPI) which saw property values increase 2.9% annually.
Median price increases for New Zealand excluding Auckland were even stronger, increasing by 9.5% to new record high of $498,000, up from $455,000 in August last year.
Median house prices in Auckland fell by -3.5% to $820,000 – down from $850,000 at the same time last year.
Here are the un-adjusted movements over the past month, sorted by price changes.
And here are the same compared with 12 months ago.
In August the median number of days to sell a property nationally increased by 2 days from 37 to 39 when compared to August last year. However, this was down 1 day on last month’s figure of 40 days.
For New Zealand excluding Auckland, the median days to sell increased by 2 days from 35 to 37.
Auckland also saw the median number of days to sell a property increase by 2 days from 42 to 44 when compared to the same time last year.
