Auckland market on the move
Terrace housing, new Viaduct Basin developments and the America's Cup are all helping to boost the country's largest real estate region.
Monday, August 23rd 1999, 12:00AM
by Paul McBeth
Terrace housing, new developments in the Viaduct Basin and positive spin-offs from the America's Cup are all helping to boost the country's biggest real estate region, Auckland.The Real Estate Institute's latest residential property figures, for July, give a breakdown for different areas within Auckland (see Auckland: median prices). While median prices are down on June, they're still higher than last year in every area except Papakura while the number of houses sold is also on the rise.
The whole Auckland region makes up a big chunk of the New Zealand market, with total sales of 2,203 last month contributing nearly a third of the country's total. Median prices for the region are still way higher than anywhere else at $232,000 in July - number two is Wellington at $178,500, while Southland still trails the pack at $83,000.
Good Returns spoke to some Auckland agents for Bayleys Real Estate to find out what's happening locally. Their comments included:
Auckland: median prices (residential dwellings)
A year ago (July 1998) |
Previous month (June 1999) |
Last month (July 1999) |
|
North Shore | $241,500 | $255,000 | $245,000 |
Waitakere | $199,000 | $199,500 | $203,000 |
Auckland City | $265,000 | $276,750 | $270,000 |
Manukau | $215,000 | $246,500 | $220,000 |
Papakura | $197,500 | $201,000 | $173,250 |
Metro Auckland | $230,000 | $245,000 | $235,000 |
Source: REINZ
Auckland: number of sales (residential dwellings)
A year ago (July 1998) |
Previous month (June 1999) |
Last month (July 1999) |
|
North Shore | 334 | 392 | 441 |
Waitakere | 267 | 279 | 297 |
Auckland City | 571 | 726 | 672 |
Manukau | 365 | 426 | 462 |
Papakura | 52 | 81 | 84 |
Metro Auckland | 1,589 | 1,904 | 1,956 |
Source: REINZ