Northland
A median price of $244,750 was recorded in Northland in June 2005. This demonstrated a slight decrease when compared to last month’s median of $251,500, while remaining above the previous year’s result of $185,000. The number of houses sold decreased to 256 for the month – down on both the previous month’s and year’s results (May 2005: 304; June 2004: 352). It took 39 days for a property to sell in Northland, as opposed to 32 in May 2005.
Auckland
June saw the median price for the Auckland region ease to $366,500 – down from the previous month’s median price of $370,000. This result remains a significant improvement on the median price recorded for June last year of $323,710. The number of dwellings sold eased to 2,796. This figure was beneath results from both the previous month and year (May 2005: 3,089; June 2004: 2,940).
North Shore's median price maintained positive growth to reach $425,000 for the month – up on both the prior month’s median of $422,500 and the median of $385,000 recorded in June 2004. Sales volume decreased on a monthly comparison to 495, but remained slightly above that recorded in the same month a year ago (May 2005: 562; June 2004: 465).
At $325,000, the median price in the Waitakere region declined against the previous month’s $327,250 median while remaining above the $275,000 median recorded in June 2004. Sales turnover continued to increase, reaching 457 for the month. In comparison, 426 sales were recorded in May 2005 and 419 in June 2004.
Auckland City residential market showed an easing in volume of sales with 840 properties changing hands (May 2005: 900; June 2004: 999). Despite a decrease in sales, the median price remained strong at $415,000 and was only slightly down on the median $420,000 achieved the prior month. A median price of $347,500 was recorded in June 2004.
The median price in Manukau demonstrated steady growth on both a monthly and yearly basis to reach $345,000 during June (May 2005: $340,000; June 2004: $295,000). However the number of sales decreased with 612 properties changing hands, as opposed to 706 and 628 in May 2005 and June 2004 respectively.
The number of sales transactions in Papakura eased during June 2005 to 92, well down on the 128 sales from the prior month. However the median price demonstrated renewed strength at $278,500, compared to a median $240,000 in May 2005. 104 properties changed hands at a median $235,000 in June 2004.
The median price decreased on a month-by-month comparison in Metropolitan Auckland from $371,750 in May 2005 to $370,000 in June 2005. However the area continued to demonstrate positive growth when compared to the $325,000 median recorded in June 2004. Sales turnover eased from the 2,722 sales recorded in May 2005 to 2,496 in June 2005. 2,615 properties changed hands a year ago.
Waikato/Bay of Plenty/Gisborne
Median prices for the Waikato/Bay of Plenty/Gisborne region continued to demonstrate growth, rising to $250,000 for the month. The median price reached $245,000 the previous month and was recorded at $196,000 the previous year. However sales volume did not reflect this trend and decreased to 1,332 (May 2005: 1,574; June 2004: 1,403).
June saw Hamilton City’s median price rise by $17,250 to reach $267,250. This result is an increase on the previous month’s and year’s results (May 2005: $250,000; June 2004: $220,000). The volume of sales remained steady on a yearly basis at 362, while decreased against the 373 sales achieved in May 2005.
Sales in the Waikato Country region eased to 292 from the 341 attained the previous month. This result was slightly above June 2004 when 291 sales were recorded. The median price in June 2005 was $166,250, as opposed to $170,000 and $128,000 in May 2005 and June 2004 respectively.
The median price continued to increase in Mt Maunganui/Papamoa – up from $388,000 in May 2005 to $400,000 in June 2005. This outcome also demonstrated strong growth on the same time last year when a median price of $343,500 was recorded. 67 sales occurred during the month. May 2005 saw 105 properties change hands while 91 sales were achieved in June 2004.
The median price in Tauranga gained ground on the previous month by increasing its median to $315,000. This figure was above both the median for May 2005 of $300,000, as well as the median for June 2004 of $277,000. The number of properties sold eased to 178 during June 2005 (May 2005: 188; June 2004: 189).
The median price in Rotorua fell from last month to settle at $180,000 (May 2005: $182,000; June 2004: $152,000). 137 properties changed hands during the month, consistent with 139 sales in June 2004, although this result remained beneath the 191 properties sold in May 2005.
This sales trend was also apparent in Taupo with the 54 sales in June 2005 remaining relatively equal to the 51 properties which changed hands the prior year. The median price declined on a yearly basis from $310,000 in June 2004 to $293,000 for the current period. 85 properties were sold at a median $270,000 in May 2005.
Gisborne City’s median price performed strongly during June 2005, increasing to $197,500 (May 2005: $185,000; June 2004: $120,000). However the volume of sales dipped on a monthly comparison to 68 – well beneath 100 sales in May 2005, while remaining fairly steady to the 62 sales which occurred in June 2004.
Hawkes Bay
Sales decreased to 278 in the Hawkes Bay – down on both the prior month’s and year’s results (May 2005: 340; June 2004: 305). The median price of $236,500 also faltered when compared to May 2004 when a median $249,500 was recorded. However this result was still above the median price of $219,000 during June 2004. It took 36 days for a house to sell in this region.
Manawatu/Wanganui
The median price for the Manawatu/Wanganui region increased on both comparative periods to reach a new high of $166,250 (May 2005: $160,000; June 2004: $125,000). 394 properties changed hands during the month, representing a decrease on the 502 and 478 sales recorded in May 2005 and June 2004 respectively. The median days to sell in Manawatu/Wanganui remained unchanged at 28 days for both May and June 2005.
Taranaki
The number of properties which changed hands in Taranaki decreased by almost 100 during the month to settle at 183 (May 2005: 282). The median price emulated this trend, easing from $213,750 in May to $210,000 in June 2005. 203 transactions occurred in June 2004 at a median $150,000. The median number of days to sell a property in Taranaki was 32 days.
Wellington
Wellington’s median price performed credibly, rising to $300,000 (May 2005: $285,000; June 2004: $262,500). It was also a good month for sales with an increase from 808 properties in June 2004 to 824 properties in the latest period. However this outcome remained beneath the 953 transactions which occurred in May 2005.
The Hutt Valley performed well during the latest month with a growth in the median price. June 2005 saw the median price rise to $276,500, up from $242,500 in May 2005 and $236,000 in June 2004. In contrast, sales volume declined from 170 sales in May 2005 and 176 transactions in June 2004 to 150 sales for the current month.
Northern Wellington also followed this trend with 87 sales in June 2005 – down on both the 102 and 96 sales recorded in May 2005 and June 2004 respectively. The median price bucked this trend to reach $355,000. This result was well above the May 2005 median of $330,250 as well as the median $320,000 in June 2004.
The median price Western Wellington gained new ground and was recorded as being $430,000 (May 2005: $398,500; June 2004: $362,500). The volume of sales decreased to 39 transactions from 48 in May 2005 and 50 in June 2005.
Southern Wellington fared better with 64 properties changing hands during the month (May 2005: 46; June 2004: 44). The median price of $369,000, while above the prior year’s median of $348,750, eased against the median $387,500 achieved in May 2005.
Eastern Wellington had a mixed month with the volume of sales increasing against last year’s, while declining against last month’s, results. 58 properties were sold in June 2005, as opposed to 68 and 42 sales in May 2005 and June 2004 respectively. The median price of $382,500 was beneath both prior periods (May 2005: $390,000; June 2004: $398,550).
Wellington Central also failed to top last month’s median price, decreasing from $372,500 to $360,000 in the month to June 2005. Five additional sales were made on the 72 properties which changed hands the prior month. 51 properties sold at a median $390,000 in June 2004.
Nelson/Marlborough
The median price in Nelson/Marlborough of $264,500 remained consistent with prior results (May 2005: $265,000; June 2004: $264,000). A total of 244 sales occurred during June 2005 which, although down on the 279 sales recorded in May 2005, remained above the 230 transactions in the same month last year.
The median price increased, while sales volume decreased, in Marlborough/Kaikoura in the month to June 2005. The market reported 108 sales at a median $232,000 in May 2005 while 91 sales at a median $245,000 were recorded in the latest month. 66 properties changed hands in June 2004 at a median price of $248,500.
Sales dropped to 152 in Nelson during June 2005, down on both the 169 and 161 sales achieved the prior month and year respectively. The median also remained beneath both comparative periods (June 2005: $271,250; May 2005: $285,000; June 2004: $275,000).
Canterbury/Westland
Canterbury/Westland reported a buoyant median price of $255,000 during June 2005 – up on both the median $247,500 in May 2005 and the median $216,000 in June 2004. However the number of transactions eased slightly to 1,095 when compared to the prior month, while demonstrating positive growth on the prior year (May 2005: 1,213; June 2004: 1,033).
A median price of $290,000 was recorded in City Central during June 2005, in contrast to the median price of $306,000 achieved in May 2005 and the median price of $227,500 in June 2004. Sales remained relatively steady at 33 properties during the month. 36 and 18 properties changed hands in the prior month and year respectively.
The median price of $300,000 in North East Christchurch surpassed previous results (May 2005: $249,000; June 2004: $241,000). Sales also gained ground with 61 properties changing hands during June 2005, above the 52 sales in the same month last year. However 63 transactions occurred during May 2005.
West Inner Christchurch’s median price gained new ground during June 2005, reaching $247,000. This was well up on the median $236,600 in May 2005, as well as the median $217,500 in June 2004. However sales turnover showed less resiliency by easing to 29 sales (May 2005: 39; June 2004: 35).
West Outer Christchurch reported a median price of $238,500 – equivalent to the prior month. The number of sales decreased during this period, falling from 44 to 36 sales. 23 properties changed hands at a median $195,000 in June 2004.
The value of residential property in North West Inner Christchurch eased during June 2005 with the median price slipping to $335,000 (May 2005: $400,000; June 2004: $445,000). Sales dipped slightly to 54, down on the 56 and 55 sales which occurred the previous month and year respectively.
Christchurch City’s median price continued to demonstrate strong growth, rising to $270,000 for the current month. This result was well above the median $261,000 in May 2005 and the median $236,000 in June 2004. The volume of sales remained equally positive when compared to the same month last year, increasing from 667 to 743 transactions, while remaining beneath the 829 properties which changed hands in May 2005.
Otago
The number of properties sold in the Otago region decreased to 312 for the month. This is an improvement on the previous year’s result, although beneath that recorded last month (May 2005: 337; June 2004: 277). The median price rose to $197,250 for the month. Median prices of $190,000 and $170,000 were recorded in May 2005 and June 2004 respectively.
The median price in Dunedin City increased to $217,500 in June 2005 (May 2005: $209,500; June 2004: $187,000). A total of 218 houses sold in this area – down from 245 sales recorded the prior month, while remaining above the 208 properties which changed hands in the same month last year.
The sales volume in North Otago eased slightly with 50 dwellings changing hands. A total of 57 transactions occurred in May 2005. The median price achieved for these sales decreased to $165,000 from $175,000 recorded last month. 42 properties sold at a median of $143,086 in June 2004.
South Otago performed strongly in June 2005, achieving an increase in both the median price and level of sales. The median price rose from $134,018 to $159,500 in the month to June 2005. This was also well above the median $107,500 recorded in June 2004. 34 properties changed hands during the month, as opposed to 28 sales in May 2005 and 19 sales in June 2004.
Sales increased marginally in East Otago with 10 houses changing hands – up from eight sales in the prior month and seven sales in the prior year. The median sales price achieved for these sales improved substantially from $188,500 in May 2005 to $250,000 in June 2005.
Southland
The median price for the Southland region rose to $128,000 – an improvement on both a month-by-month and year-by-year basis (May 2005: $126,750; June 2004: $115,000). However the number of properties eased from 272 in May 2005 to 201 for the latest month. A total of 223 properties changed hands in June 2004.
Central Otago Lakes
Central Otago Lakes performed well during June 2005, achieving a median price of $395,000. This was well above both May 2005 and June 2004 which recorded a median of $380,000. The volume of sales eased slightly to 110 – down on the 123 sales achieved the prior month and the 116 properties which changed hands the prior year. It took a median of 61 days to sell a house in this region, compared to 37 days in May 2005 and 55 days in June 2004.
The median price in Central Otago increased from $250,000 to $274,000 in the month to June 2005. The volume of sales did not prove as positive, easing from 57 to 49 sales over the same period of time. 49 properties changed hands at a median $325,000 in June 2004.
Queenstown continued to achieve ongoing growth with the median price rising to $497,000 (May 2005: $420,000; June 2004: $400,000.) 61 transactions occurred during June 2005, as opposed to 77 and 68 sales in May 2005 and June 2004 respectively.
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