REINZ recently released its Monthly Property Report and HPI Monthly Data which provides a market leading level of detail and understanding of housing activity in New Zealand. The Monthly Property Report has shown the number of residential properties sold in February across New Zealand increased by 14.6% when compared to the same time last year (from 6,951 to 7,964) – the highest for the month of February in 14 years.
Bindi Norwell, Chief Executive at REINZ says, “It’s highly likely that some of this uplift can be attributed to both investors and owner-occupiers looking to purchase ahead of the LVR restrictions coming back into effect in March and the slight uplift in listings we’ve seen over the last couple of months.”
Ilse agrees. Her experience over the February period was high numbers through her properties and strong bidding at auctions, and in almost every auction she and Harcourts Cooper and Co conducts, the sale price was well above the reserve. The question will be, will this change with the new LVR’s. We will watch this space for data at the end of March.
Searching in the North Shore City district recently, Ilse has come up with some statistics, and shares her insights from this district for February 2021. The Average asking price for a property is up 5.4% at $1, 247,844, and new listings are up 4.2% to 645.
Ilse also shares REINZ’s insights from this district for February 2021, taking a look at the property market for the Auckland region. They saw the average asking price hit $1,036,963, an increase of 8% when compared to February 2020. The total stock in the region went down by -9% year-on-year, giving buyers 7,196 homes to choose from. Ilse says the market is moving quickly, so if you are buying make sure you do your research and be prepared to make a smart but swift decision.
So, for good old fashioned, honest advice, and for more information on property valuations Hauraki, real estate agents Belmont and selling my house Hauraki please go to http://www.ilseevans.co.nz .
