January 2018 National Market Watch

KoreaPost 0 1,172 2018.02.14 12:45

The latest national residential property figures from Harcourts NZ show the busy finish to 2017 has continued into January.

 

Though traditionally a very quiet month in the market, the number of residential sales across the country jumped 8% last month, when compared to January 2017.

 

The average national house price in January was also up, by 6% to $554,021, when compared to the same period last year.

 

Harcourts NZ CEO Chris Kennedy says the activity in the market, among both buyers and sellers, is very encouraging as the year gets underway.

 

“I believe a busy January bodes well for the rest of the year. The average house price is still rising indicating there’s plenty of buyers out shopping already.

 

“I think that’s a sign everybody is starting the year feeling pretty confident about where things are going.”

 

Some areas, such as the Central Region covering Tauranga and Hamilton, has had a particularly busy January recording 16.7% increase in sales, compared to the same period last year. Meanwhile Christchurch recorded a 15% increase in sales compared to January 2017, with Wellington at 12%

 

Auckland is also seeing plenty of activity among both buyers and sellers with a 10% increase in listings in January year on year, and an 8.4% increase in sales.

 

The average house price in Auckland for January held steady compared to the same period last year, at $935,773.

 

“What we have at present is a great scenario to start the year – a relatively balanced market with plenty of opportunity and activity amongst both buyers and sellers,” Kennedy says.

 

The number of auctions around the country dropped by 8.3% compared to January 2017. But Kennedy believes those numbers should start to rise, as people see the results others are getting at auction, and as the market continues to show plenty of activity.

 

 

Chris Kennedy, CEO
Harcourts New Zealand

 

 

Auckland

Jan 2018

Jan 2017

Change (%)

Total listings

606

547

10.8%

New Auctions

190

227

-16.5%

Property on Hand

1757

1599

9.9%

Written Sales

285

263

8.4%

Average Sale Price

$935,773

$941,931

-0.6%

 

CENTRAL REGION

Jan 2018

Jan 2017

Change (%)

Total Listings

353

399

-11.5%

New Auctions

89

121

-26.4%

Property on Hand

1210

1169

3.5%

Written Sales

321

275

16.7%

Average Sale Price

$480,537

$447,480

7%

 

WELLINGTON REGION

Jan 2018

Jan 2017

Change (%)

Total listings

304

287

5.9%

New Auctions

65

68

-4.4%

Property on Hand

742

663

11.9%

Written Sales

213

190

12.1%

Average Sale Price

$468,545

$437,466

7%

 

Christchurch Metro

Jan 2018

Jan 2017

% change

Total listings

398

422

-5.7%

New Auctions

133

179

-25.7%

Property on Hand

1518

1547

-1.9%

Written Sales

314

273

15%

Average Sale Price

$520,609

$477,728

9%

 

South Island Provincial

Jan 2018

Jan 2017

Change (%)

Total listings

263

239

10%

Property on Hand

1091

1125

-3.0%

Written Sales

218

230

-5.2

Average Sale Price

$410,901

$373,540

10%

 

NATIONAL

Jan 2018

Jan 2017

% change

Total listings

2014

2000

0.7%

New Auctions

510

630

-19%

Property on Hand

6816

6598

 3.3%

Written Sales

1433

1327

8%

Average Sale Price

$554,021

$521,722

6%

 

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