REINZ residential highlights - August 2010
Property sales have remained subdued, although house prices have been holding steady. To find out what's happening in the main regions throughout the country, use the links below.
Tuesday, September 14th 2010, 11:00AM
by The Landlord
To view the regions quickly,:
Northland
Auckland
Waikato/Bay of Plenty/Gisborne
Hawkes Bay
Manawatu/Wanganui
Taranaki
Wellington
Nelson/Marlborough
Canterbury/Westland
Central Otago Lakes
Otago
Southland
Northland
From $280,000 in June the Northland median price rose to $307,500 in July and $310,000 in August, a 5% increase on the August 2009 median of $295,000. But Northland residential property sales volume fell from 102 in July to 88 last month, also down on the 126 in August 2009.
In the Whangarei County the median price eased back up to $340,000 from $320,000 in July, but is well down on the August 2009 figure of $458,000. Sales rose to 22 residential properties from 19 in July and 14 in August 2009.
Sales in Whangarei City fell further to 34 from 43 in July, and 69 in August 2009. But the median price increased from $280,000 for the previous three months, to $302,500, more than $40,000 up on the August 2009 median of $262,000.
Auckland
After falling to $445,000 in June the Auckland median residential property price eased up to $450,000 in July but dropped back again to $445,000 in August, down 1.1% on the median price of $450,000 a year ago. At 1,487 total sales were down on the 1,505 sales in July and also less than the 2,067 sold in August 2009.
The median sale price for a North Shore City home increased to $520,000 in August from $490,000 in July, but is still down on the median of $537,500 in August 2009. Sales totalled 279, a slight increase on the 277 houses sold in July but down on the 426 sold in August 2009.
Sales declined in Waitakere City from 206 in July to 198 in August, also below the 258 properties sold in August 2009. And the median price decreased to $375,500 last month from $390,500 in July but is slightly up on the August 2009 median of $374,000.
After rising to $550,000 in March the median price for an Auckland City house declined to $492,500 in July and $485,500 last month which is also down on the August 2009 median of $500,000. At 534 sales were up on the 520 houses sold in July, but down on the 662 in August 2009.
In Manukau City the median residential property price fell back from $455,000 in July to $441,750 last month, slightly up on the median of $439,500 a year ago. The number of sales increased to 296 from 289 in July but is down on the 406 sold in August 2009.
The Papakura District median price eased back from $320,000 in July to $315,000 last month which is also down on the August 2009 median of $360,000. The 30 sales in Papakura in August are down on the 45 sold in July and the 61 in August 2009.
The slide in median prices for Metropolitan Auckland homes has continued from $455,000 in July to $450,000 last month, which is also a decrease on the median price of $460,000 in August 2009. But sales at 1,337 were the same as the number sold in July though down on the 1,813 in August 2009.
Sales in the Rodney District eased back to 92 from 98 in July and are down on the 132 sold in August 2009. From $500,000 in June and $459,500 in July, the median price fell further to $443,500 but is still above the August 2009 median of $437,500.
The median price for a Franklin District home continued to fall from $364,000 in June and $340,000 in July to $308,500 in August which is also below the median of $360,000 in August last year. With 40 houses sold in August, sales are down on the 51 sold in July (August 2009: 57).
In Thames/Coromandel sales further declined to 18 from the 19 homes sold in July, and less than half the 65 sold in August 2009. The median price fell from $390,000 in July to $326,250 last month, well below the August 2009 median of $355,000.
The median price for an Outer Auckland home eased back from $420,000 in July to $393,500 last month (August 2009: $395,000). Sales volume decreased to 150 from 168 houses sold in July (August 2009: 254).
Waikato/Bay of Plenty/Gisborne
At $323,000, the Waikato/Bay of Plenty/Gisborne district median price has recovered from $315,000 in July, and is 1.7% up on the August 2009 median of $317,500. Altogether 557 houses were sold in the district, a decrease on the 588 sold in July and the 796 sold in August 2009.
In Waikato Country 69 houses were sold, down on the 97 in July and the 133 sales in August last year. At $228,000 the August median is down on $257,000 in July, and the $260,000 median twelve months ago.
The median price for a Hamilton City house remained the same at $335,000 in both July and August which is fractionally below the August 2009 median of $336,500. Sales volume stayed steady at 151 compared with the 155 sold in July but was down on the 223 sold in August 2009.
In Western Bay of Plenty Country the median price rose to $420,500 from $347,500 in July and is up on the $345,000 median in August last year. Sales volumes eased up to 44 from 38 sold in July (August 2009: 51).
The median price for a house in Mt Maunganui/Papamoa decreased to $405,000 from $412,000 in July but is still up on the August 2009 median of $395,000. Sales stayed steady at 47 for a second month but are down on the 75 sold in August 2009.
In Tauranga the median price rose from $339,250 in July to $353,500 last month, an increase on the August 2009 median of $340,000. However sales of residential properties fell from 90 in July to 78 last month, the same as in August 2009.
Rotorua's median price rose from $262,000 in July to $285,000 in August, and is also up on the August 2009 median value of $256,000. The sale of 61 properties is down on the 63 houses sold in July, and the 76 in August 2009.
In Taupo the median price dropped to $289,000 in July from $336,250 in June but has recovered to $350,000 in August. However it is still down on the August 2009 median of $357,500. There were 32 sales in August, two down on July, and less than the 52 sold in August a year ago.
The median price for King Country residential properties fell from $140,000 in July to $125,000 in August but is still substantially above the August 2009 median of $78,000. Sales at 8 are up on the 6 sold in July but almost half the 15 sold in August 2009.
The median price for a Gisborne City home eased back further to $220,000 from $259,000 in July and $270,000 in June and is now significantly below the August 2009 median of $280,000. At 35, the number of sales is up on the 27 in July and the 32 in August 2009.
In Eastern Bay of Plenty Country the median price dropped from $310,000 in July to just $185,000 in August, also well down on the August 2009 median of $257,500. Houses sold totalled 29, up on the 27 sold in July but less than half the 60 sold in August 2009.
Hawkes Bay
In the Hawkes Bay district the median price of $272,500 is 7.7% up last year's August median of $253,000 and is also an increase on the July median of $265,000. Residential property transactions rose from 157 the previous month to 159 in August but are still well down on the 213 sales in the same month last year.
From $286,750 in July, the Napier City median price eased up to $308,000 in August, and is still up on the median of $268,000 in the same month last year. Sales totalled 69 houses, up three on the 66 sold in July, but less than the 93 in August 2009.
In Hastings City the median price declined from $285,000 in the previous two months to $269,500 in August but remains up on the median of $255,000 a year ago. From 67 in June and July, sales slipped to 66 last month, also a decrease on August 2009 sales of 79.
In Hawkes Bay Country the median price recovered to $350,000 from $189,000 in July and $193,000 in August 2009, but there were only 5 sales for a second month compared with 14 in August 2009.
Manawatu/Wanganui
Across the Manawatu/Wanganui district the median price eased from $232,000 in July to $229,500 in August but is nearly 9.3% up on the median of $210,000 a year ago. Sales at 200 are down on the 207 houses sold in July, and the 298 in August 2009.
At $256,444 the median sale price for residential properties in Palmerston North City is an increase on the July median of $255,000 and the August 2009 median of $250,200. Sales of 90 in August are a decrease on the 99 in July and the 120 houses sold in August 2009.
Sales volume in Manawatu Country eased up to 20 last month from 18 in July but is down on the 25 in August 2009. But the median price increased from $202,500 in July to $230,000 last month, which is also well up on the of August 2009 median of $162,000.
In the Manawatu region the median price continued to decline from $237,000 in July to $231,250 last month, which is still up on the August 2009 median of $225,000. At 160, the number of sales is down on the 162 sold in July and less than the 228 sold in August last year.
The median price in Wanganui City rose to $215,000 last month from $190,000 in July, and is also higher than the August 2009 median of $178,000. There were 25 houses sold in August, down on the 27 sales in July and the 46 in August 2009.
After remaining steady for three months at $185,000 the median sale price in the Wanganui region rose to $193,250, which is up on the August 2009 median of $160,250. At 40, sales were down on the 45 houses sold in August and the 70 in August 2009.
Taranaki
From $292,000 in July the Taranaki district median house price fell to $265,500 last month, 7.6% down on the $287,500 median in August last year. Across the district 134 houses sold, a decrease on the 145 sales in July and the 150 in August 2009.
In the Taranaki Country area the median price decreased from $274,000 in July to $206,250 last month which is also $10,000 below the August 2009 median. July sales totalled 24, three more than the month before and six more than in August last year.
The median sale price for a New Plymouth City residential property firmed from $324,500 in July to $325,000 last month, an increase on the median of $322,500 a year ago. At 65 the number of sales was down on the 84 sold in July and the 80 in August 2009.
Wellington
From $385,000 in July the Wellington district median residential property price returned to $397,500 last month, just half a% up on the August 2009 median of $395,500. Sales for the month slid back to 501 from 512 in July and are also down on the 622 in August 2009.
In the Wairarapa sales rose to 47 from the 41 residential properties sold in July, and is also an increase on the 40 transactions in August 2009. But from $248,000 in July, the median price fell to $227,000, though it is still up on the 2009 August median of $217,500.
The median price for an Upper Hutt house continued to increase from $322,000 in July to $324,000 last month and is up on the August 2009 median of $310,000. Sales of 49 residential properties were recorded in August, up on the 47 sold in July and the 48 in the same month last year.
The Hutt Valley median recovered last month to $342,500 from $330,000 in July and is up on the August 2009 median of $317,500. In August sales totalled 79, down on the 100 sold in July and the 126 sales in August 2009.
For a house in Otaki/Paekakariki the median price increased to $355,250 from $320,000 in June and $328,000 in July (August 2009 median $310,000). The number of sales increased to 80 from 75 last month (August 2009: 107).
From $386,500 in July, the median price in Pukerua Bay/Tawa increased to $410,000 last month, but is still well down on the August 2009 median of $450,000. At 53 sales were down on the 67 in July and the 75 in August 2009.
After rising from $435,500 in June to $524,500 in July, last month the Central Wellington median price fell back to $428,000, well down on the August 2009 median of $560,000. The number of sales at 35 is up on the 32 in July but down on the 55 residential properties sold in August 2009.
Nelson/Marlborough
Across the Nelson/Marlborough district the median price increased to $330,000 from $327,000 in July, and is up on the August 2009 median of $325,000. From 159 in July, residential property sales eased back to 145 in July, also down on the 213 in August last year.
In Nelson City the median price increased from $312,000 in July to $330,000 last month (August 2009: $305,000) and sales volume rose from 59 the previous month to 63 in August, though still less than the 73 in the same month last year.
The median price of a Nelson Council Zone house rose from $332,000 in July to $336,500 last month, but is down on the August 2009 median of $346,250. The number of sales eased to 104 from 113 in July (August 2009:142).
In Marlborough the median price decreased from $307,750 in July to $280,000 last month (August 2009: $300,000). At 41, sales were down on the 46 in July and the 71 in August last year.
Canterbury/Westland
After falling from $325,000 in June to $310,000 in July the Canterbury/Westland district median price recovered to $315,000 last month, nearly 6.8% up on last year's August median of $295,000. From 683 sales in July, turnover decreased to 623, well below the 885 in August 2009.
The median price for a house in Christchurch City increased to $335,000 from $328,250 in July, and is also up on the August 2009 median of $316,500. Sales eased from 482 in July to 416 last month (August 2009: 600).
The median price for a home in Rangiora rose from $289,000 in July to $340,000 last month (August 2009: $283,000), but sales volume eased to 17 properties from 26 in July and 37 in August last year.
From $320,000 in July the median price in North Canterbury fell to $291,250 in August and is also down on the August 2009 median of $336,000. From 19 houses sold in July, sales are down slightly at 16 last month, and on the August 2009 figure of 27.
The median price for a Canterbury Country home eased from $367,500 in July to $360,000 last month, the same as the median a year ago. Sales at 42 were up on the 34 properties sold in July and 37 in August 2009.
The median price of houses sold in Mid-Canterbury increased from $235,000 in July to $255,000 last month, and is also up on the median of $232,000 in August last year. And the number of houses sold more than halved from 29 in July to 13 last month (August 2009: 39)
After falling to $190,000 in July the median price in Timaru recovered to $200,000 in August, but is still below the median of $232,500 a year ago. With 37 properties sold, turnover in Timaru is up on the 33 sold in July but below the 58 sold in August last year.
The median price for a house on the West Coast eased last month to $180,000 from $180,750 in July but is up in the August 2009 median of $165,000. Sales increased to 39 from the 32 residential properties sold in July (August 2009: 32).
In Outer Canterbury 207 houses sold last month, up on the 201 sales in July but less than the 285 in August 2009. At $265,000 the median price last month remained the same as July, but is an increase on the August 2009 median of $260,000.
Central Otago Lakes
Across the Central Otago Lakes district the median price recovered to $450,000 from $390,800 in July, 3.4% up on the median value of $435,000 a year ago. Sales also increased to 77 from 48 in July but are down on the 87 sold in August last year.
The median price for a house in Central Otago increased to $430,000 last month from $333,500 in July, and is also up on the August 2009 median of $330,000. Sales of 47 properties are up on the 24 sold in July and the 41 in August 2009.
From $436,000 in July the Queenstown median price rose to $515,000 last month but is still only slightly up on the August 2009 median of $506,250. Sales are also up at 30 properties compared with 24 in July (August 2009: 46).
Otago
In the Otago district the median price decreased from $245,500 in July to $230,000 last month, and is 2.4% down on the August 2009 median of $236,000. Across the region 199 dwellings sold last month, up on the 196 sales in July but less than the 275 in August 2009.
In North Otago the median sale price declined from $211,000 in July to $189,000 last month but is still up on the median of $185,000 a year ago. At 32, sales were up on the 26 in July and the 29 in August last year.
The median price in Dunedin City eased back from $259,000 in July to $245,000 last month, also a decrease on the August 2009 median of $263,500. At 145 sales are down on the 151 dwellings sold in July and the 212 in August 2009.
The number of sales in South Otago increased to 17 from 15 in July (August 2009:25), but the median price fell from $227,000 in July to $148,000 last month, still up on the August 2009 median of $128,000.
Southland
In Southland the median price has decreased 2.7% over the past year from $200,000 in August 2009 to $194,500 last month, and is also down on the July median of $210,000. Sales volumes increased to 117 last month from 109 in July (August 2009: 146).
In Invercargill the median price slipped from $210,500 in July to $210,000 last month the same as the median in August 2009. At 71, sales are down on the 80 sold in July and the 98 in August 2009.
The median price for a house in Gore eased back from $183,250 in July to $171,500 last month but is up on the median of $143,000 in August a year ago. But from the 14 residential properties sold in July, sales turnover increased to 28 last month (August 2009:24).
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