Residential highlights - June 2010
Residential house prices firmed last month, according to the Real Estate Institute (REINZ). Find out what is happening in the main residential areas throughout the country.
Wednesday, July 14th 2010, 10:48AM
by The Landlord
To view the regions quickly, use the links below:
Northland
Auckland
Waikato/Bay of Plenty/Gisborne
Hawke's Bay
Manawatu/Wanganui
Taranaki
Wellington
Nelson/Marlborough
Canterbury/Westland
Central Otago Lakes
Otago
Southland
Northland
The total number of Northland houses sold fell further from 143 in May to just 99 last month (June 2009: 167). At $280,000 the median price is a significant decrease on $325,000 in May and nearly a 10% drop on the $310,000 median in June last year.
In the Whangarei County the median price fell to $358,500 from $390,000 in May, and is dramatically down on the June 2009 figure of $420,000. Only 16 residential properties sold, a decrease on the 41 sales in May and the 27 in June 2009.
Sales in Whangarei City fell to 50 from the 61 sold in May, and the 80 sales in June 2009. But the median price remained steady at $280,000 which is still down on the June 2009 median of $293,500.
Auckland
After falling in April to $470,000 and $455,000 in May the Auckland district median house price has eased further in June to $445,000 which is just 2.3% up on the median price of $435,000 a year ago. At 1,645, total sales were down on the 1,887 sales in May and fewer than the 2,032 sold in June 2009.
The median sale price for a North Shore City home decreased from $550,000 in May to $539,000 in June, but while it is up on the median of $523,250 in June 2009 it is the same as the median price in June three years ago. Sales totalled 315, a decrease on the 353 houses sold in May and down on the 396 sold in June 2009.
Sales volume was down in Waitakere City at 204 sold in June compared with 238 in May and is also a decrease on the sales of 279 in June 2009. The median price reduced to $379,500 from $400,500 in May (June 2009: $355,000).
After rising to $550,000 in March the median price for an Auckland City house has fallen back to $495,000 in June from $520,000 in May (June 2009: $477,500). And 559 houses were sold in June, a decrease on the 675 sales in May and down on the 655 in June 2009.
In Manukau City the median price eased back to $419,000 from $438,000 in May and $432,000 in April, and is still significantly down on the $441,000 median a year ago. The number of sales decreased from 363 in May to 346 last month (June 2009: 415).
The 56 sales in Papakura in June were two up on the number sold in May (June 2009: 61). After rising to $337,500 in April the median price is back up to $321,250 from $306,500 in May. But is still down on the June 2009 median of $329,000.
The median price for a Metropolitan Auckland house has continued to fall from $475,000 in April to $465,000 in May to $448,000 in June. Though this is an increase on the median price of $440,750 in the same month a year ago it is less than the June 2007 median of $450,000. Sales of 1,480 were a decrease on the 1,683 houses sold in May and 1,806 in June 2009.
Sales in the Rodney District fell to 81 from 99 in May (June 2009: 116). At $500,000 the median price is an increase on $440,000 in May and the June 2009 median of $423,000.
The median price for a Franklin District home eased up slightly to $364,000 from $362,000 in May which is also an increase on the median of $357,500 in June last year. With 38 houses sold, sales are down on the 56 sold in May (June 2009: 68).
In Thames/Coromandel 46 homes sold in June, down on the 49 sales in May (June 2009: 42). The median price increased to $390,000 in June from $385,000 in May (June 2009: $342,500).
The median price for an Outer Auckland home recovered to $424,000 after declining to $411,250 in May from $430,000 in April (June 2009: $378,750). Sales volume decreased to 165 from 204 houses sold in May (June 2009: 226).
Waikato/Bay of Plenty/Gisborne
At $322,000 the median price for a house in the Waikato/Bay of Plenty/Gisborne district has recovered from $307,000 in May, but is just 1% up on the June 2009 median of $318,750. Altogether 579 houses were sold in the district, a decrease on the 681 sold in May and also down on the 892 sold in June 2009.
In Waikato Country 87 houses were sold, down on the 124 in May and the 132 sales in June last year. At $260,000, the June median price is up on $230,000 in May, but still less than the $267,750 median in the same month last year.
The median price for a Hamilton City house rose again to $350,000 last month from $328,000 in March, $334,000 in April and $337,500 in May (June 2009: $330,000). But sales volume was down at 153 compared with the 164 sold in May and the 241 sold in June 2009.
In Western Bay of Plenty Country the median price fell further to $375,000 last month from $387,000 in May and $392,500 in April, but is still up on the $365,000 median in June last year. Sales volumes also declined to 43, compared with 47 sold in May and 65 in June 2009.
The median price for a house in Mt Maunganui/Papamoa further decreased from $412,500 in April and $390,000 in May to $375,150 in June which is also below the median of $390,000 in the same month last year. Sales also fell to 54 compared with 57 houses sold in May, and 71 in June 2009.
In Tauranga the median price of $330,000 was down $10,000 on the May median of $340,000, and also well below the June 2009 median of $367,000. Only 81 residential properties sold last month, down on the 97 in May, and the 153 in June 2009.
Rotorua's median price rose to $272,250 after falling to $230,000 in April and $246,500 in May, and it is also up on the June 2009 median value of $245,000. Sales of 58 properties were down on the 70 houses sold in May, and also a decrease on the 77 sales in June 2009.
In Taupo the median price recovered to $348,000 in May but fell back to $336,250 in June but is still up on the June 2009 median of $330,000. There were 28 sales in May, down on the 41 houses sold in May and the 45 sold in the same month a year ago.
The median price for King Country residential properties fell back to $122,000 in June from $125,000 in May and is still substantially less than the June 2009 median of $156,500. Sales at 9 were the same as in May, and down on the 12 sold in June 2009.
The median price for a Gisborne City home rose to $270,000 from $256,500 in May and $215,500 in April, and is also up on the June 2009 median of $212,500. And sales were also up at 35 compared with 32 in May (June 2009: 50).
From a dramatic drop to $228,500 in May, the median price in Eastern Bay of Plenty Country recovered to $260,750 last month but is still down on the June 2009 median of $267,500. Houses sold totalled 30, down on the 38 sold in May (June 2009: 46).
Hawke's Bay
In the Hawke's Bay district the median price of $285,000 is 1.8% up on last year's June median of $280,000 and also up on the May median of $276,000. Residential property transactions in June fell to 163, from181 in the previous month, and are well down on the 223 sales in June 2009.
After falling from $330,000 in February to $283,750 in May, the Napier City median price rallied to $315,000, an increase on $312,000 in the same month last year. Sales last month totalled 73 houses, down on the 94 houses sold in May (June 2009: 119).
In Hastings City the median price also recovered to $285,000 after falling to $260,500 in May (June 2009: $245,000). Hastings residential property sales totalled 67, an increase on the May figure of 54 but down on the 75 sold in June 2009.
There was a decrease in the Hawke's Bay Country median price to $307,000 from $332,500 in May (June 2009: $231,500), but there were only three sales compared with 14 in May (June 2009: 12).
Manawatu/Wanganui
Across the Manawatu/Wanganui district the median price has fallen even further to $219,000 from $233,000 in February, $231,500 in March, $230,000 in April and $225,000 in May. It is also 1.2% down on the $221,750 median in the same month last year. Sales at 221 were down on the 233 houses sold in May, and fewer than the 300 in June 2009.
At $278,000 the median sale price for a house in Palmerston North City is an increase on $250,000 in May and also up on the June 2009 median of $270,000. Sales of 93 are a decrease on the 115 houses sold in May (June 2009: 126).
Sales volume remained steady at 22 in Manawatu Country compared with 23 in May and the 20 houses sold in June 2009. The median price fell again to $165,000 from $221,000 in April and $195,000 in May, and is down on the June 2009 median of $209,000.
In the Manawatu the median price rallied from $230,000 in May to $242,500 last month, slightly up on the June 2009 median of $240,000. At 156, the number of sales is down on the 183 sold in May and on the 220 sold in June last year.
The median price in Wanganui City fell from $200,000 in May to $185,000 last month, but is still higher than the June 2009 median of $172,500. There were 49 houses sold in June, up on the 31 sold in May but fewer than the 58 in June 2009.
The median sale price in the Wanganui region remained steady at $185,000 last month, which is up on the June 2009 median of $172,500. At 65, sales were up on the 50 houses sold in May (June 2009: 80).
Taranaki
After falling to $275,000 in May the Taranaki district median house price rose to $285,000 in June nearly 5.2% up on the $271,000 median in the same month a year ago. Across the district 137 houses sold, a decrease on the 167 sales in May (June 2009: 184).
In the Taranaki Country area the median price recovered from $232,000 in May to $240,000 last month (June 2009: $222,500). June sales totalled 21, down on the 23 sold in May and 7 fewer than the 28 sold in June 2009.
The median sale price for a New Plymouth City house eased back again from $310,000 in May to $295,000 in June, a decrease on the median of $312,750 a year ago. At 65 the number of sales was down on the 85 sold in May (June 2009: 84) .
Wellington
The Wellington district median residential property price rose to $405,000 last month from $385,000 in May, and is 8% up on the June 2009 median of $375,000. The number of sales is 485 compared with 548 in May and 674 in June 2009.
In the Wairarapa sales dropped to just 31, well down on the 55 residential properties sold in May and the 73 in June 2009. From $227,000 a year ago the median price has fallen to $215,000 which is also down on the May median of $240,000.
The median price for an Upper Hutt house increased from $296,500 in May to $317,500 in June 2009 which is also up on the June 2009 median of $265,000. Only 40 residential properties were sold in June, down on the 44 sold in May and the 41 in the same month last year.
The Hutt Valley median fell back to $352,000 in June after recovering to $383,500 in May (June 2009: $318,500). In June sales totalled 99, down on the 106 sold in May (June 2009: 126).
For a house in Otaki/Paekakariki the median price decreased further to $320,000 from $355,000 in April and $345,000 in May, and is lower than the June 2009 median of $345,000. The number sold decreased to 62 from 82 in May (June 2009: 83).
The median price in Pukerua Bay/Tawa rallied from $375,000 in May to $413,500 last month, well up on the June 2009 median of $370,350. Sales were down to 49 compared with 60 in May and 78 in June 2009.
The number of sales in Central Wellington was up one on the 42 in May but well down on the 75 residential properties sold in June 2009. The median price rose from $429,000 in May to $435,500 last month, but is substantially less than the June 2009 median of $586,500.
Nelson/Marlborough
The median price for homes in the Nelson/Marlborough district increased to $347,250 from $330,000 in May and is also nearly 4% up on the June 2009 median of $334,000. But at 150, residential sales are down on the 230 in May and the 197 in June last year.
Sales in Nelson City fell to 50 from the 88 houses sold in May (June 2009: 77). But the median price increased from $323,500 in May to $325,250 last month (June 2009: $352,000).
The median price of a Nelson Council Zone house firmed to $352,500 from $350,500 in May but is still down on the June 2009 median $357,500. The number of sales fell from 158 in May to 98 last month (June 2009:130).
In Marlborough the median price increased to $312,000 last month from $306,000 in May (June 2009: $270,000). At 52, sales were down on the 72 in May and fewer than the 67 in the same month last year.
Canterbury/Westland
At $325,000, the median price in the Canterbury/Westland district is an increase on the May median of $303,750, and 10% up on the same month last year (June 2009: $295,000). From 726 in May sales declined further to 710 last month (June 2009: 889).
The median price for a house in Christchurch City rose to $340,000 from $323,750 in May (June 2009: $312,500). Sales fell further to 473 from 492 in May (June 2009: 601).
The May median price for a home in Rangiora recovered from $277,500 in May to $330,000 last month, well above the median of $272,500 in June last year. But sales numbers remained steady at 29 compared with 30 in May and 32 in June 2009.
The median residential property price in North Canterbury rose from $240,000 in May to $283,500 last month (June 2009: $300,000). From 17 houses sold in May, sales stayed steady at 16 last month (June 2009: 24).
The median price for a Canterbury Country home continues to decline to $365,000 last month from $387,500 in April and $371,250 in May (June 2009: $373,000). Sales at 40 were down on the 42 properties sold in May (June 2009: 47).
The median price of houses sold in Mid-Canterbury increased from $260,000 in May to $279,000 last month, and is also up on the median of $246,000 in the same month last year. And the number of houses sold rose from 31 in May to 32 last month (June 2009: 42)
After dropping back to $210,000 in May the median price in Timaru has recovered to $218,000 but this is below the median of $237,500 a year ago. With 40 properties sold the sales volume in Timaru is just up on the 39 sold in May but fewer than the 59 sold in June last year.
The median price for a house on the West Coast increased last month to $187,500 from $170,000 in May (June 2009: $205,000). Sales increased to 36 from the 29 residential properties sold in May (June 2009: 30).
In Outer Canterbury 237 houses sold last month, slightly up on the 234 sales in May (June 2009: 288). At $285,000 the June median price is an increase on the May figure of $255,000 and the median of $255,250 in the same month last year.
Central Otago Lakes
Across the Central Otago Lakes district the median price eased back to $415,000 from $432,000 in May and is 5.4% down on the median of $438,750 a year ago. Central Otago Lakes house sales increased to 85 last month from 67 in May which is also up on the 80 sold in the same month last year.
The median price for a house in Central Otago decreased from $355,000 in May to $349,500 last month (June 2009: $400,000). Sales of 42 properties, are down on the 44 sold in May but up on the 39 in June 2009.
From $570,000 in May the Queenstown median price retreated to $500,000 last month but is still up on the June median last year of $460,000. However sales were up at 43 properties sold compared with 23 in May and 41 in the same month last year.
Otago
In the Otago district the median price slipped back again to $227,500 from $230,000 in May and $235,500 in April but is still a 3.8% increase on the June 2009 median of $219,150. Across the region 182 houses sold in June, down on the 207 sales in May (June 2009: 232).
In North Otago the median sale price fell to $190,000 from $222,000 in May and is also down on the median of $200,000 a year ago. At 29, sales were up on the 25 in May and but down on the 35 in June last year
The median price in Dunedin City eased up from $241,250 in May to $243,000 last month, also an increase on the June 2009 median of $225,000. Sales were down again at 139 compared with 154 houses sold in May (June 2009: 171).
The number of sales in South Otago more than halved from 23 in May to just 10 in June, but the median price increased from $142,500 in May to $173,500 last month (June 2009: $160,000; 19 sales).
Southland
In Southland the median price has dropped more than 11% over the past year from $193,500 in June 2009 to $172,000 last month, and is also down on the May median of $197,000. Sales volumes decreased to 119 in June from 136 houses sold in May (June 2009: 170).
In Invercargill the median price last month of $188,500 is down on the May median of $210,000 and also the $190,000 median in June 2009. At 79, sales are down on the 97 sold in May (June 2009: 123).
The median price for a house in Gore eased up to $153,750 from $140,000 in May which was also the median in June a year ago, and 22 houses were sold during the month, down 1 on the number sold in May but more than the 17 sold in June 2009.
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