The most expensive suburb is Karaka, which has a median house price of $1,561,900. While the most affordable suburb is Glenbrook, which has a median house price of $872,900. Hobsonville was the suburb that grew slowest during that time, growing at a rate that averaged 6.79% per annum. Muriwai is the most expensive suburb with a median home price of $1,442,050
How is Auckland really faring in the housing market downturn? – Stuff
How is Auckland really faring in the housing market downturn?.
Posted: Sun, 03 Jul 2022 07:00:00 GMT [source]
We haven’t won all these awards for nothing – our agents, and our offices, are consistently the best – in terms of sales volume, as well as customer service – time after time. Ray White AT Realty, with four offices, is the number one real estate company in south Auckland. We have unparalleled market expertise and area knowledge – you simply will not find better agents in this region. More than half the suburbs of Auckland have seen their median property value fall by at least 1 percent – 119 of 206.
Remuera ‘for 30% less’: Buyers heading south in Auckland’s blue chip suburb – OneRoof
Remuera ‘for 30% less’: Buyers heading south in Auckland’s blue chip suburb.
Posted: Tue, 21 Jun 2022 17:01:30 GMT [source]
He said that the housing frenzy of recent years, fuelled both by low interest rates, and a fear of missing out among buyers, has radically altered housing market with typical prices in most metro suburbs now well over $1m. The suburb that grew the slowest over that period was Manly, which grew at a rate of 7.07% per year. Long Bay is the most expensive suburb with a median home price of $1713,800. Helensville is the most affordable suburb with a median home price of $945,000. The suburb that grew the slowest over that period was Conifer Grove, which grew at a rate of 6.87% per year.
Auckland house prices increased in June, defying expectations – Newshub
Auckland house prices increased in June, defying expectations.
Posted: Mon, 04 Jul 2022 07:00:00 GMT [source]
New Zealand’s major cities now have twice the number of suburbs with average house prices above $1 million than they did before the Covid pandemic. This is being called a devastating blow to first-home buyers. Investors are finding it increasingly difficult to get consistent good yields on their rental properties as Auckland’s housing market continues to grow like a freight train. Stephen Dickens looks at south Auckland, and finds that the region is growing rapidly but still has potential for investors. By comparison, the Manurewa-Papakura local board has the most affordable house prices, with an average house price of just $1,016,000. That suggests that when Auckland’s median house price is below its long term average, there is a buying opportunity. When Auckland’s median house price is above its long term average, there are buying opportunities in other regions.
In Auckland, the number of properties sold in August decreased by 12.8% year-on-year . South Auckland, where the company began, is an affordable housing market with a solid base for business ventures and employment. With excellent infrastructure, educational facilities and accessibility, and a good return on investment properties. Nevertheless, prices have risen in recent years due to the rise of high-end real property and new development areas. In January 2020, 78% – or 44 percent – of the city’s suburbs had an average house price below $1m. In January 2020, 123 suburbs of the city – or 43% – had an average house price under $1m.
Home staging allows you to highlight the best features of your property and make it more appealing to a wider range of buyers. Studies show that staged homes spend significantly less time on the market and sell for higher prices than unstaged properties. Finer’s professional home staging services bring elegance, balance and Tom Mc Cartney flow to your property, sparking the imaginations of potential buyers. Auckland again underpinned the strength in the New Zealand median, hitting a record median house price in August of $1,200,000 – up 26.4% from $949,500 in August 2020.
Each area represents a different suburb. The area’s colour represents how quickly house values have risen over the past 20+ year. At the top end of the market, the percentage of properties sold for $1 million or more increased from 20.9% in August 2020 to 38.2% in August 2021 – the highest percentage of $1 million plus properties sold ever. Canterbury came in third with 28.0% of the auction-sold property – an increase from 13.8% in August 2013. This was the highest percentage of auction sales in an August month for the region since records began.
This was the highest August month-end sale of New Zealand homes by auction since records began. Manawatu/Wanganui had the highest annual house price growth rate with a 47.0% rise to a record index level at 5,089. Wellington came in second with a 39.0% increase, while Bay of Plenty was third with a 37.5% increase in house prices.
- While the most affordable suburb is Helensville, which has a median house price of $945,600.
- Despite Auckland’s strong performance, the median house price for New Zealand excluding Auckland still hit a new record of $700,000, up by 22.8% from $570,000 in August last year.
- Auckland had the highest number of auctions in the country, with 39.5% of properties going under the hammer, up from 30.3% last year.
- Auckland, unlike a city like Christchurch or Hamilton, can only expand in one direction.
While a city like Hamilton or Christchurch can expand in any direction , Auckland can only expand north or south. High commute times and traffic make inner-city properties more attractive, which increases demand and pushes prices up. We can manage your property or help you buy and sell it. “Auctions have been a popular method of sale for some time now, with August being no different.