REINZ Regional Commentaries – October 2011
Auckland Region
The Auckland region recorded a slightly larger drop in sales volumes than the national figures for October compared to September. The number of sales was up by more than 1/3 compared to October last year, although October 2010 recorded the 6th lowest number of sales for any month since January 1992.
Volumes at open homes were reported as being positive during the month, suggesting that the Rugby World Cup had little impact on buyer activity. Broader concerns about European turmoil, the direction of interest rates and the economy are thought likely to have had greater influence.
The wider Auckland median eased by 2.1% from September driven by drops in Auckland and Manukau. Other areas of the region were stable, or in the case of Waitakere, showed a modest increase.
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