The REINZ has released its house price data for July, which revealed a 0.6% increase in values over the month, with values nationally also increasing by 5.4% year-on-year:
Outside of Auckland, seasonally adjusted house prices rose by 2.2% in July, with prices up 6.5% year-on-year.
Whereas Auckland’s seasonally adjusted median house price fell by 1.2% in July and were down 3.7% year-on-year.
Sales volumes are in the gutter, with the number of residential properties sold across New Zealand down by 6.1% in August from the same time last year to 5,959 (down from 6,346). This was the lowest level of sales for 7 months, as well as the lowest level for August in five years:
The market is even quieter in Auckland, where 1,761 residential properties were sold in August, the lowest number for the month of August since 2010.
Latest posts by Leith van Onselen (see all)
- “Very strong” growth tipped for Aussie housing market - January 20, 2020
- Construction mortgages lowest since 2012 - January 20, 2020
- Australia’s richest 1% have double the wealth of bottom 50% - January 20, 2020