It's a Sellers Market says realestate.co.nz
Realestate.Co.Nz, Barfoot & Thompson, Shore Real Estate Sales Consultant,
North Shore, Auckland residential market stats to end of May 2016
QV-Corelogic data shows the Auckland housing market continued to move up in May 2016, driven once again by investors.
Barfoot & Thompson
North Shore City sales prices increased 3.2% over the past three months and 14.1% year on year.
QV-Corelogic highlights a record high of purchases by investors:
“This re-acceleration of Auckland coincides with investors jumping back into the market in a big way. Investor activity eased a little in late 2015 in response to the regulatory changes from 42% of sales in mid-2015 to 40% by year end. But it didn’t take them long to see that little had changed and investor activity has now surged back to a new record high of 46% of all Auckland sales.”
Broken down by North Shore regions, Coastal values rose strongest in May (1.2%) followed by North Harbour (0.6%).
According to Barfoot & Thompson managing director Peter Thompson:
Barfoot newly listed 1905 homes for sale in May, up 27.3% compared to the 1496 new listings in April and 1740 In May last year.
It was the highest number of new listings for Barfoot in the month of May for more than a decade.
However, demand remains strong and the company's inventory (the total number of homes it has available for sale) improved only slightly, rising from 2846 in April to 3013 in May.
"Listings remain at historically low levels and there has never been a better time to sell," said Peter Thompson.
“It’s a classic supply and demand situation and right now it’s definitely a sellers’ market,” says Realestate.co.nz spokesperson Vanessa Taylor.
, Shore Real Estate Sales Consultant
, Vanessa Taylor