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14-10-2010

REINZ residential highlights - September 2010

Landlords.co.nz

House sales in Canterbury/Westland were dramatically affected by the September earthquake. Find out how other regions fared in September as well.

To view the regions quickly, click on the links below:

Northland
From $280,000 in June the Northland median price rose to $307,500 in July and $310,000 in August, but fell slightly to $300,000 in September 2010 but was still 5% up on the September 2009 median of $285,000. Northland residential property sales volume fell from 88 in August to 81 last month, which is also well down on the 139 sold in September 2009.

In Whangarei County, the median price eased slightly to $333,000 after climbing to $340,000 in August, but was still down on the September 2009 figure of $380,000. Sales dropped significantly to 8 residential properties, down from 22 in August and 19 in July.

Sales in Whangarei City recovered slightly to 39 after dropping to 34 in August from 43 in July. However, they were still well down on the 61 properties sold in September 2009. The median price also fell from $302,500 to $281,050, but is still more than $11,000 up on the September 2009 median of $270,000.

Auckland
After climbing back to $450,000 in July, the median price dropped to $445,000 in August but bounced back to $450,000 again in September, which is $5,000 up on the median price of a year ago. September's total of 1690 sales was up on the 1487 recorded in August but down on the 1505 recorded in July. It was also well down on the 2355 sales recorded in September 2009.

The median sale price for a North Shore City home increased to $530,000 in September from $520,000 in August and $490,000 in July, but is still down on the median of $555,000 in September 2009. Total sales were 304, up from 279 in August and 277 in July but down on the 407 sold in September 2009.

Sales remained steady in Waitakere City at 198 sold but still down on the 330 properties sold in September 2009. The median price increased slightly last month to $380,000 from $375,500 in August but is still well up on the September 2009 median of $362,500.

The median price for an Auckland City house rose to $525,000 in September, an increase over $485,500 last month and $492,500 in July and also up on the September 2009 median of $516,500. At 602, sales were up on 534 in August and 520 in July, but down on the 813 in September 2009.

In Manukau City the median residential property price continued to fall to $420,000 after falling to $441,750 in August from from $455,000 in July. It is also down on the median of $450,500 a year ago. The number of sales increased to 362 from 296 in August and 289 in July but is down on the 483 sold in September 2009.

The Papakura District median price increased to $350,000 from $315,000 in August and $320,000 in July and was also up on the September 2009 median of $321,000. The 55 sales in Papakura in September was well up on the 30 sold in August and 45 sold in July.

The median price for Metropolitan Auckland homes recovered slightly in September to $455,000, after dropping to $450,000 in August. It is still down on the same month last year when the median price was $462,500. Sales of 1521 were well up on the 1337 recorded in August but down on the 2115 in September 2009.

Sales in the Rodney District remained relatively steady at 90 compared to 92 in August and 98 in July but were down on the 118 sold in September 2009. After falling to $443,500 from $450,000 in June and $459,500 in July, the median price recovered slightly to $447,500, which was slightly down on the September 2009 median of $450,000.

The median price for a Franklin District home climbed to $363,500 from $308,500 in August and 340,000 in July but was still down on the $375,500 median in September 2009. With 44 houses sold in September, sales were up on August's total of 40 but down on the 51 sold in July (September 2009: 66).

In Thames/Coromandel sales jumped to 35 from 18 in August and 19 in July. However, it's still less than the 56 sold in September 2009. The median price continued to fall from $326,250 last month and $390,000 in July to $315,000 in September, and still well below the September 2009 median of $355,000.

The median price for an Outer Auckland home climbed back to $400,000 after easing slightly in August to $393,500 (August 2009: $405,250). Sales volume increased to 169 from 150 in August and 168 houses sold in July (September 2009: 240).

Waikato/Bay of Plenty/Gisborne
At $314,324, the Waikato/Bay of Plenty/Gisborne district median price fell from $323,000 in August but was almost the same as September 2009 ($315,000). Altogether 570 houses were sold in the district, up from 557 in August, but down on the 898 sold in September 2009.

In Waikato Country 79 houses were sold compared to 69 in August, 97 in July and the 178 sales in September last year. At $275,000 the median price is well up on the August figure of $228,000 and the September 2009 median of $250,000.

The median price for a Hamilton City house was $344,500, which was up on the $335,000 recorded in both July and also up on the September 2009 figure of $319,000. Sales volume stayed steady at 150, compared to 151 in August and 153 sold in July but down on the 247 sold in September 2009.

In Western Bay of Plenty Country the median price fell to $359,000 from $420,500 in August and is down on the $385,000 median in September last year. Sales volumes eased up to 55 from 44 in August (September 2009: 53).

The median price for a house in Mt Maunganui/Papamoa continued to fall to $377,000, down from $405,000 in August and $412,000 in July, but slightly up on the September 2009 median of $378,000.  Sales were 54 compared to 47 in August but are down on the 81 sold in September 2009.

In Tauranga the median price fell to $328,000 from $353,500 in August and is down on the September 2009 median value of $354,000. Sales of residential properties remained steady at 77 last month compared to 78 in August, but were still well down on the September 2009 figure of 130.

Rotorua's median price continued to fall - down to $231,500 from $285,000 in August. The sale of 66 properties is slightly up on the 61 sold in August, but down on the 77 sold in September 2009. 

In Taupo the median price dropped to $298,000 in September from $350,000 in August. It was also down on the September 2009 median of $315,000. There were 27 sales in September compared to 32 sales in August and 45 sales in September a year ago.

The median price for King Country residential properties continued to fall from $140,000 in July and $125,000 in August to $92,500 in September. It is substantially down on the September 2009 median of $210,000. Sales remained steady at 9 compared to 8 in August but down on the 13 sold in September 2009.

The median price for a Gisborne City home eased back further to $210,000 from $220,000 in August and from $259,000 in July and is now significantly below the September 2009 median of $257,500. At 26, the number of sales is down from the 35 recorded in August and 42 in September 2009.

In Eastern Bay of Plenty Country, the median price recovered to $246,000 after dropping to $185,000 in August from $310,000 in July. It was still down on the September 2009 median of $277,650. There were 26 houses sold compared to 29 in August and 27 in July but less than the 31 sold in September 2009.

Hawke's Bay
In the Hawke's Bay district the median price fell to $265,000 from $272,500 in August and was the same as the September 2009 median. Total number of houses sold remained steady at 159 for September, which was down from 235 a year ago.

From $308,000 in August, the Napier City median price eased to $298,750 in September, and is up on the median of $280,500 in the same month last year. Sales totalled 76 houses, up seven on the 69 sold in August, but less than the 110 sold in September 2009.

In Hastings City the median price was $262,000, down slightly on the $269,500 recorded in August and $268,000 from a year ago. Sales continued to slip from 67 in July and 66 in August to 63 in September, also a decrease on September 2009 sales of 86. 

In Hawke's Bay Country the median price fell from $350,000 in August to $240,000 in September, also down from $260,000 in September 2009. There were six sales, compared to five in August and 13 in September 2009.

Manawatu/Wanganui
Across the Manawatu/Wanganui district the median price continued to ease to $216,500, down from $229,500 in August and $232,000 in July, also down slightly on $225,250 in September 2009. Sales at 222 were up on the 200 sold in August but down on the 286 sold in September 2009.

At $260,000, the median sale price for residential properties in Palmerston North City was up on August's $256,444 but down on the $290,000 recorded in September 2009. Sales of 87 were down on the 90 recorded in August and 110 houses sold in September 2009.

The median price in Wanganui City fell to $180,000 last month from $215,000 in August, and is also down slightly on the September 2009 median of $190,000. There were 45 houses sold in September, well up on the 25 recorded in August but down on the 57 sales in September 2009.

Taranaki
The Taranaki district median house price rose slightly to $269,500 from $265,500 in August but still down on the $283,000 median in September last year. Across the district 132 houses were sold, roughly the same as August's figure of 134 but down on the 183 sales in September 2009.

The median sale price for a New Plymouth City residential property fell to $300,000 from $325,000 in August, also down on the median of $322,000 a year ago.  At 62 the number of sales was on a par with the 65 sold in August but down on the 87 sold in September 2009.

Wellington
The Wellington district median residential property price remained steady at $398,500 last month, compared to $397,500 in August, and well up on September 2009's median of $378,168. Sales for the month slid back to 492 from 501 in August and 512 in July and are also well down on the 701 sold in September 2009.

In the Wairarapa, the median price rose to $270,000 from $227,000 in August and $248,000 in July and also well up on the $232,500 median in September 2009. The number of houses sold remained steady with 47 sales in both August and September but was still down on the 62 sold in September 2009.

The median price for an Upper Hutt house continued its upswing reaching $361,000 for September, up from $324,000 in August and $322,000 in July. It was also up on the September 2009 median of $336,000. Sales of 44 residential properties were recorded in September, down on the 49 sold in August and the 80 in the same month last year.

The Central Wellington median price bounced back to $495,000 after dropping to $428,000 in August, well up on the September 2009 median of $461,000. The number of sales at 35 was the same as August but down on the 43 residential properties sold in September 2009.

Nelson/Marlborough
Across the Nelson/Marlborough district the median price remained at $330,000, the same as the previous month and up from $327,000 in July, but down slightly on the September 2009 median of $337,125.  Residential property sales jumped up to 172 last month from 145 in August, but were still down on the 224 sales in September last year.

In Nelson City the median price increased slightly to $331,000 from $330,000 in August (September 2009: $345,000) and sales volume rose from 63 the previous month to 71 in September, though still less than the 83 in the same month last year.

In Marlborough the median price increased to $312,500 from $280,000 last month (September 2009: $319,000). At 48, sales were up slightly on the 41 in August but down on the 76 in September last year.

Canterbury/Westland
The Canterbury/Westland district median price fell to $297,500 from $315,000 in August, also down on last year's September median of $311,500. At 396, sales were significantly down from 623 in August, and well below the 921 in September 2009.

The median price for a house in Christchurch City increased slightly to $338,000 from $335,000 in August, and is also up on the September 2009 median of $331,000. Sales dropped from 416 in August to 237 last month (September 2009: 618).

The median price in Timaru remained steady at $200,000 last month, but is still below the median of $218,500 a year ago. At 35, sales were on a par with the 37 properties sold in August but down on the 56 sold in September last year.

Central Otago Lakes
Across the Central Otago Lakes district the median price rose to $465,000 from $450,000 in August, well up on the median value of $405,000 a year ago. Sales remained steady at 77 but are down on the 103 sold in September last year.

The Queenstown median price fell from $515,000 in August to $482,500 last month but is still up on the September 2009 median of $462,000. Sales were also up at 46 properties compared with 30 in August (September 2009: 50).

Otago
In the Otago district the median price remained steady at $230,000 last month, and is down slightly on the September 2009 median of $237,000. Across the region 191 dwellings sold last month, down on the 199 sales in August and 275 in September 2009. 

The median price in Dunedin City eased back slightly to $242,000 from $245,000 in August, which is also a decrease on the September 2009 median of $270,000. At 147 sales were on a par with the previous month's 145 but down on the September 2009 of 215.

Southland
In Southland the median price continued to slide and was $185,000 last month compared to $194,500 in August and $210,000 in July. It was also down on the September 2009 median of $189,500. Sales volumes increased to 141 last month from 117 in August (September 2009: 144).

In Invercargill the median price slipped from $210,500 in July and $210,000 in August to $189,000 last month, which was down on the September 2009 median of $195,000. At 106, sales were up on the 71 sold in August and on a par with September 2009 (105).

The median price for a house in Gore also continued to slide - down from $183,250 in July and $171,500 in August to $120,000 last month. It is also down on the median of $159,000 in September a year ago. Total sales were also down from 28 in August to 15 last month. (September 2009: 17).

Source: Landlords.co.nz

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