Record price for Auckland lifestyle blocks
Auckland lifestyle block prices reached a new record high in the three months to June 2014, according to the latest Real Estate Institute statistics.
Monday, July 21st 2014, 12:00AM
by The Landlord
The median price for the region reached $912,500, up 15% from the $793,750 recorded in the three months to June 2013.
The lifestyle block market nationwide experienced a 10.8% fall in sales volume on the year before, with 1572 sales over the three-month period.
Three regions reported more sales than 2013 and 11 recorded fewer.
Otago had the largest year-on-year increase in number of sales, with 15 more. Gisborne had eight more and Bay of Plenty three.
The national median price rose by $10,000 when compared to the three months to June 2013, to $515,000.
Waikato reported a drop in price of 2.9%, to $482,500, Canterbury recorded a drop of 5.1% to $512,500.
The number of days to sell for lifestyle properties eased by four days, from 71 days for the three months to the end of May to 74 days for the three months to the end of June.
Compared to the three months ended June 2013 the number of days to sell eased by four, from 69 days to 74 days.
REINZ rural spokesman Brian Peacocke said: “Hawkes Bay and Nelson/Marlborough are the two regions that have experienced an increase over the most recent three-month period in a market that has seen a significant drop in sales volumes. From a national perspective prices have eased over the three month period ending June 2014, but as has been the case for some time, Auckland continues to benefit from an increase in sales prices for
the period.”
| « Good time to buy in Christchurch: Harcourts | Stats indicate sagging market: Economist » |
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