New Zealand residential regional highlights

REAL Estate Institute of New Zealand's residential highlights – February 2007.

Northland

In total, 262 houses sold in Northland in February 2007, well up on the 209 sold in January and the 216 sold in February 2006. The median sales price achieved on the 262 sales also gained ground to reach $310,000, up from $305,000 in January and $275,000 in February 2006.

 

31 houses sold in the Whangarei County area in February, one more than the 30 sold in January and two more than the 29 sold in February 2006. The median sales price attained also rose to reach $420,000, well up on January’s median price of $372,000 (February 2006: $398,000).

 

Sales in Whangarei City increased with 114 houses sold during the month, up on the 98 and 99 sold in January 2007 and February 2006 respectively. The median sales price increased to $310,000 from $289,500 in January and $265,000 in February 2006.

 

Auckland

The median sales price for a house in the Auckland region increased to $430,000 from $415,000 in January and $385,000 in February 2006. In total, 3,085 houses sold during the month, well up on both the 2,468 and 2,374 houses sold in January 2007 and February 2006 respectively.

 

The median sales price for a house in North Shore City rose to $503,500 in February, from $497,188 in January and $432,000 in February 2006. Sales volume also increased with 549 houses sold in February 2007, well up on the 442 sold in January and the 415 sold in February 2006.

 

Sales volume also gained ground in Waitakere City in February, with 410 houses sold, up on the 396 and 348 sold in January 2007 and February 2006 respectively. The median sales price also followed this positive trend and rose to $380,500 from $355,000 in January and $345,000 in February 2006.

 

The median price for a house in Auckland City increased to $462,000 in February, from $425,000 in January. In total, 945 houses sold during the month, well up on the 730 sold in January. In February 2006, 716 houses sold with a median sales price of $430,000.

 

In total, 699 houses sold in Manukau City in February, a substantial improvement on the 526 and 534 sold in January 2007 and February 2006 respectively. The median sales price attained also rose to $418,000 (January 2007: $403,000; February 2006: $365,000).

 

Sales volume was on the rise in the Papakura District in February with 101 houses sold during the month, 33 more than the 68 sold in January and 30 more than the 70 sold in February 2006. The median sales price achieved eased to $301,000 in February, from $320,000 in January (February 2006: $270,000).

 

The median sales price for a house in Metropolitan Auckland improved to reach $431,500 in February, up from $417,000 in January and $385,000 in February 2006. Sales volume soared with 2,704 houses sold during the month, well up on the 2,162 sold in January, and then 2,084 sold in February 2006.

 

188 houses sold in Rodney District in February, up on the 136 sold in January (February 2006: 167). The median sales price achieved rose to $482,750 in February, up from $462,500 in January and $405,000 in February 2006.

 

The median sales price for a house in the Franklin District eased to $347,000 in February, from $360,000 in January. In total, 95 houses sold during the month, ten less than the 105 sold in January. In February 2006, 66 houses sold with a median sales price of $321,500.

 

In total, 98 houses sold in the Thames/Coromandel region in February, 33 more than the 65 sold in January and 41 more than the 57 sold in February 2006. The median sales price gained further ground to reach $396,250, up from $381,000 in January and $365,500 in February 2006.

 

The median sales price for a house in Outer Auckland improved to reach $425,000 in February, a $10,000 increase on January’s median of $415,000 (February 2006: $384,000). Sales volume increased with 381 houses sold during the month, 75 more than the 305 sold in January and 91 more than the 290 sold in February 2006.

 

Waikato/Bay of Plenty/Gisborne

The median price for a house in the Waikato/Bay of Plenty/Gisborne region increased to $310,000 in February, up from $307,875 in January and $280,000 in February 2006. In total, 1,485 houses sold during the month, well up on the 1,144 houses sold in January and the 1,237 sold in February 2006.

 

Sales volume rose significantly in the Waikato Country areas in February with 307 houses sold during the month, 103 more than the 204 sold in January and 51 more than the 256 sold in February 2006. The median sales price also improved, reaching $242,000 in February 2007, up from $229,850 in January and $215,000 in February 2006.

 

The median price for a house in Hamilton City increased to $328,000 in February 2007, up from $315,000 in January and $297,000 in February 2006. In total, 335 houses sold in the area in February, up on the 279 sold in January and the 317 sold in February 2006.

 

Sales volume increased slightly in the Western Bay of Plenty Country region in February with 125 houses sold, up on the 85 and 86 sold in January 2007 and February 2006 respectively. The median sales price achieved eased to $370,000 during the month (January 2007: $413,500; February 2006: $377,500).

 

The median price for a house in Mt Maunganui/Papamoa eased to $410,250 in February 2007 (January 2007: $420,000; February 2006: $385,000). In total, 109 houses sold during the month, four more than the 105 sold in January and nine more than the 100 sold in February 2006.

 

In total, 173 houses sold in Tauranga in February, up on the 137 sold in January 2007 and the 114 sold in February 2006 respectively. The median sales price eased slightly from $353,000 in January to $345,000 in February (February 2006: $350,000).

 

The median price for a house in Rotorua eased to $233,500 in February, down from $240,000 in January (February 2006: $206,000). In total, 155 houses sold during the month, up on both the 142 and 127 houses sold in January 2007 and February 2006 respectively.

 

Sales volume rose in Taupo in February with 89 houses sold during the month, up on the 46 and 71 sold in January 2007 and February 2006 respectively. The median sales price achieved also gained ground to reach $390,000 in February, well up on January’s $344,750 median and February 2006’s median price of $333,000.

 

The median sales price for a house in the King Country improved to reach $166,500 in February, up from $154,000 in January and $161,250 in February 2006. Sales volume increased with 40 houses changing hands during the month, up on the 22 and 34 sold in January 2007 and February 2006 respectively.

 

The median price for a house in Gisborne City rose by $12,000 to reach $255,000 in February (January 2007: $243,000; February 2006: $217,500). In total, 67 houses sold during the month, up on the 59 sold in January and the 64 sold in February 2006.

 

In total, three houses sold in the Gisborne Country area in February 2007, one more than the two sold in January (February 206: three). The median sales price achieved eased to $193,000 in February from $298,500 in January and $240,000 in February 2006.

 

The median sales price for a house in the Eastern Bay of Plenty Country region rose to $304,000 in February, up from $286,000 in January 2007 and $210,000 in February 2006. In total, 82 houses sold in February, up on the 63 sold in January 2007 (February 2006: 65).

 

Hawkes Bay

Sales turnover increased substantially in the Hawkes Bay in February with 334 houses sold, up on the 319 sold in January 2007 (February 2006: 292). The median sales price eased to $272,000 from $280,000 in January (February 2006: $255,000). 

 

The median price for a house in Napier City eased to $300,000 in February from $306,000 in January. In total, 151 houses sold during the month, up on the 138 sold in January. In February 2006, 122 houses sold with a median sales price of $282,000.

 

Sales volume dipped in Hastings City in February, with 109 houses changing hands during the month (January 2007: 125; February 2006: 114). The median sales price remained steady at $275,000, the same as it Was in January (February 2006: $254,000).

 

Sales volume rose in Hawkes Bay Country areas in February, with 35 houses sold during the month, up on the 15 and 14 sold in January 2007 and February 2006 respectively. The median sales price improved also, reaching $315,000 (January 2007: $310,000; February 2006: $175,000).

 

Manawatu/Wanganui

The median price for a house in the Manawatu/Wanganui region increased to $221,500 in February 2007, up from $215,000 in January. In total, 462 houses sold during the month, well up on the 405 houses sold in January. In February 2006, 486 houses sold with a median sales price of $190,000.

 

The median sales price for a house in Palmerston North City increased to $278,300 in February from $249,500 in January and $230,000 in February 2006. In total, 164 houses sold in February, 11 more than the 153 sold in January (February 2006: 189).

 

Sales volume improved in the Manawatu Country area in February with 56 houses sold during the month, well up on the 27 sold in January (February 2006: 56). The median sales price rose to reach $215,000, up on January’s median price of $180,000 and February 2006’s median price of $171,000.

 

The median sales price for a house in the Manawatu Region rose to $240,000 in February, up on January’s median price of $234,500 (February 2006: $205,000). In total, 323 houses sold, up on the 264 sold in January, and down on the 342 houses sold in February 2006.

 

In total, 99 houses sold in Wanganui City in February, three less than the 102 sold in January and two less than the 101 sold in February 2006. The median sales price achieved increased during the month to $190,000 in February, well up on January’s median price of $159,250 and February’s median price of $160,500.

 

The median sales price for a house in the Wanganui Region rose to $185,000 in February, up on January’s $168,500 median and February 2006’s median of $152,000. Sales volume eased with 139 houses sold during the month, down on the 141 and 144 houses sold in January 2007 and February 2006 respectively.

 

Taranaki

The median sales price for a house in Taranaki eased to $265,000 in February, down on January’s median price of $272,500. In total, 213 houses sold, down on the 222 sold in January. In February 2006, 213 houses sold with a median sales price of $249,000.

 

In total, 42 houses sold in Taranaki Country in February 2007, down on the 52 sold in January and up on the 38 sold in February 2006. The median price increased from $205,000 in January to $250,000 in February (February 2006: $231,250).

 

The median sales price for a dwelling in New Plymouth City increased slightly to $323,375 in February from $318,500 in January. In total, 94 houses changed hands during the month (January 2007: 94). In February 2006, 105 houses sold with a median sales price of $273,000.

 

Wellington

Wellington’s median sales price rose from $351,868 in January to $370,500 in February (February 2006: $305,000). Sales turnover also increased with 972 houses sold during the month, up on the 769 houses sold in January (February 2006: 992).

 

In total, 86 houses sold in the Wairarapa in February, six less than the 92 sold in January and ten less than the 96 sold in February 2006. The median sales price also eased slightly from $236,000 in January to $232,000 in February (February 2006: $194,000).

 

The median sales price for a house in Upper Hutt eased to $321,100 in February, from $325,000 in January. Sales volume improved however, with 114 houses sold during the month, up on the 80 sold in January. In February 2006, 92 houses sold with a median sales price of $275,000.

 

In total, 179 houses sold in the Hutt Valley in February, slightly down on the 186 sold in January and the 205 sold in February 2006. The median sales price attained also dipped to $320,000 from $335,000 in January (February 2006: $289,000).

 

The median price for a house in the Otaki/Paekakariki area eased to $320,000 in February 2007, from $327,500 in January 2007. Sales volume increased with 137 houses changing hands during the month, up on the 125 houses that sold in January. In February 2006, 141 houses sold with a median sales price of $265,000.

 

Sales volume increased on a monthly basis in the Pukerua Bay/Tawa area in February, with 90 houses changing hands, up on the 77 sold in January 2007, but down on the 110 sold in February 2006. The median sales price eased from $368,500 in January to $347,500 in February (February 2006: $306,500).

 

The median sales price for a home in Central Wellington rose substantially to $486,250 in February, well up on January’s median price of $400,000 (February 2006: $401,000). In total, 88 houses sold during the month, up on the 51 sold in January (February 206: 77).

 

Nelson/Marlborough

The median price for a house in the Nelson/Marlborough region increased to $310,000 in February from $307,000 in January (February 2006: $290,000). Sales improved also, with 357 houses changing hands in February, up on the 237 and 253 sold in January 2007 and February 2006 respectively.

 

In total 118 houses sold in Nelson in February, 36 more than the 82 sold in January and 25 more than the 93 sold in February last year. The median sales price achieved eased to $300,000 in February, from $335,000 in January 2007 and $290,000 in February 2006.

 

The median sales price for a house in the Nelson region improved to reach $320,250 in February, slightly up on January’s median price of $319,000 and February 2006’s median price of $305,000. Sales volume increased also with 214 houses sold during the month (January 2007: 133; February 2006: 160).

 

Sales volume improved in the Marlborough region in February with 143 houses sold during the month, up on the 104 and 93 sold in January 2007 and February 2006 respectively. The median sales price attained also gained ground to reach $300,000 (January 2007: $295,000; February 2006: $270,000).

 

Canterbury/Westland

Sales volume increased in the Canterbury/Westland regions in February with 1,352 houses sold during the month (January 2007: 1,130). The median sales price improved slightly to $297,000 in February, up from $290,000 in January. In February 2006, 1,164 houses sold with a median sales price of $267,125.

 

The median price for a house in Christchurch City remained steady at $315,000 in February (January 2007: $ 315,000; February 2006: $285,000). In total, 916 houses sold during the month, up on the 737 and 789 sold in January 2007 and February 2006 respectively.

 

The median price for a home in Rangiora rose to $293,000 in February, up on January’s median price of $290,000 (February 2006: $293,000). In total, 41 houses sold during the month, down on the 48 sold in January, but up on the 30 sold in February 2006.

 

The median price for a house in North Canterbury eased to $284,500 in February, from $300,500 in January and $290,000 in February 2006. Sales volume increased with 46 houses sold (January 2007: 32; February 2006: 47).

 

In total, 68 houses sold in Canterbury Country in February (January 2007: 40; February 2006: 29). The median sales price dipped to $342,500 from $363,500 in January (February 2006: $299,000).

 

The median sales price for a house in Mid Canterbury eased to $246,000 in February, down from $255,000 in January. In total, 49 houses sold during the month, down on the 51 sold in January. In February 2006, 58 houses sold with a median sales price of $205,500.

 

In total, 61 houses sold in Timaru in February, seven less than the 68 sold in January (February 2006: 74). The median sales price achieved on the 61 sales eased to $205,000 from $209,500 in January (February 2006: $178,500).

 

The median price for a house on the West Coast rose to $190,100 in February, up from $187,750 in January and $133,000 in February 2006. Sales volume also improved with 67 houses sold (January 207: 56; February 2006: 59).

 

In Outer Canterbury areas, 436 houses sold in February, up on the 393 sold in January. The median sales price achieved continued to climb, reaching $250,000 from $246,000 in January. In February 2006, 375 houses sold with a median sales price of $222,500.

 

Central Otago Lakes

In total, 168 houses sold in this region in February (January 2007: 155; February 2006: 112). The median sales price attained on the 168 sales increased to $440,750 during the month, up on January’s median price of $432,200 (February 2006: $445,000).

 

The median price for a house in Central Otago eased to $332,000 in February, from $366,250 in January (February 2006: $349,000). Sales volume improved slightly with 89 houses sold, one more than the 88 sold in January and 37 more than the 52 sold in February 2006.

 

Sales volume improved in February in Queenstown, with 79 houses sold, up on the 67 and 60 sold in January 2007 and February 2006 respectively. The median sales price attained rose to $570,000 from $510,000 in January (February 2006: $575,000).

 

Otago

In total, 400 houses sold in Otago in February, well up on the 286 and 363 sold in January 2007 and February 2006 respectively. The median sales price also rose to $230,000 during the month (January 2007: $221,750; February 2006: $210,000).

 

Sales volume improved in North Otago in February, with 56 houses sold, two more than the 54 sold in January. The median sales price eased from $175,500 in January to $172,500 in February. In February 2006, 37 houses sold with a median sales price of $145,000.

 

The median price for a house in Dunedin City rose to $250,000 in February (January 2007: $239,500; February 2006: $228,000). Sales volume also improved, with 285 houses sold (January 2007: 198; February 2006: 284).

 

The median price for a house in South Otago improved to reach $162,500 in February, up from $130,000 in January (February 2006: $152,000). In total, 48 houses sold during the month (January 2007: 27; February 2006: 34).

 

Sales volume increased in East Otago in February, with 11 houses sold during the month, up on the seven sold in January and the eight sold in February last year. The median sales price achieved fell to $215,000 from $305,000 in January (February 2006: $183,000).

 

Southland

Sales volume increased in Southland in February, with 267 houses sold during the month, up on the 222 houses sold in January and the 228 sold in February 2006. The median sales price also rose to $165,000 in February (January 2007: $156,000; February 2006: $125,000).

 

Sales volume improved in Invercargill in February with 190 houses sold, up on the 162 sold in January, and the 147 sold in February 2006. The median price attained on the 190 sales also increased to $177,000, from $165,000 in January and $128,000 in February 2006.

 

The median price for a house in Gore improved to reach $130,000 in February, well up on January’s median price of $87,250 and February 2006’s median price of $104,000. In total, 40 houses sold during the month, up on the 26 sold in January (February 2006: 50).

 

Australian Property Journal