January 2018 National Market Watch

Press Release – Harcourts

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

Content Sourced from scoop.co.nz
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