Tuesday, 12 December 2023
KaitaiaWhangareiDargavilleAucklandThamesTaurangaHamiltonWhakataneRotoruaTokoroaTe KuitiTaumarunuiTaupoGisborneNew PlymouthNapierHastingsDannevirkeWhanganuiPalmerston NorthLevinParaparaumuMastertonWellingtonMotuekaNelsonBlenheimWestportReeftonKaikouraGreymouthHokitikaChristchurchAshburtonTimaruWanakaOamaruQueenstownDunedinGoreInvercargill
NZ HeraldThe Northern AdvocateThe Northland AgeThe AucklanderWaikato HeraldBay Of Plenty TimesRotorua Daily PostHawke's Bay TodayWhanganui ChronicleThe Stratford PressManawatu GuardianKapiti NewsHorowhenua ChronicleTe Awamutu CourierVivaEat WellOneRoofDRIVEN Car GuideThe CountryPhoto SalesiHeart RadioRestaurant Hub
Voyager 2023 media awards
Subscribe
Advertisement
Advertise with NZME.
Home / Business

Numbers of houses for sale surges, annual sales numbers also up

Anne Gibson
By
Anne Gibson
10 Jan, 2022 09:00 PM3 mins to read
Saveshare

Share this article

facebookcopy linktwitterlinkedinredditemail
New data out today on the real estate market. Photo / Andrew Warner

New data out today on the real estate market. Photo / Andrew Warner

The number of residential properties for sale nationally has surged nearly 30 per cent annually, and the number of properties sold is also up.

Vanessa Williams, realestate.co.nz spokesperson, said today the total number of homes now for sale was up 29.7 per cent since December 2020.

A Real Estate Institute spokesperson also said this morning the number of properties sold had jumped annually, from 75,665 in 2020 to 81,256 last year.

The Reinz data is for the 11 months from January to November for each year (the body is yet to release its December 2021 sales data, which is due next Tuesday).

Advertisement
Advertise with NZME.

Williams said Auckland residential property numbers for sale were up 30.7 per cent, Waikato and Bay of Plenty up 45 per cent, Hawkes Bay up 107 per cent, Wellington up 206 per cent and Manawatu/Wanganui up 133 per cent.

But listing volumes dropped in the Coromandel down 28 per cent and the Central Otago/Lakes district down 20 per cent.

The Central Otago/Lakes district has almost a $1.4 million average asking price, making it the most expensive region to buy a property in the country.

Auckland's asking price is up 18.5 per cent annually to $1,225,265 and the Coromandel is up 25.2 per cent to $1,110,512, Williams said.

Advertisement
Advertise with NZME.

The national average asking price hit a 14-year record high last month, up 23.4 per cent annually to $985,245.

Hawke's Bay asking prices rose 36.9 per cent to $865,209, Wairarapa 30.1 per cent to $827,766, Bay of Plenty 29.1 per cent to $999,978, central North Island 28.8p per cent to $825,617 and Canterbury 27 per cent to $674,222.

Yesterday, the Herald reported national house sales data out early next week would be unlikely to show major adjustment but that could change soon.

Mark Lister, head of private wealth research at Craigs Investment Partners, doesn't forecast any big jolt from Real Estate Institute sales data to be issued next Tuesday.

Related articles

Kahu

Health provider building 60 affordable rentals for Kaikohe families struggling to save for a home

10 Jan 04:00 PM
New Zealand|Politics

Editorial: Green Party discontent surfaces

10 Jan 04:00 PM
World

'Victims on every floor': 19 dead as fire rips through New York apartment block

09 Jan 08:15 PM
Business

Investment: The biggest risks of 2022

09 Jan 08:00 PM

"I expect the December figures to still look solid. I suspect we might need to wait a few months to get a clearer picture of the impact higher interest rates are having," Lister said today.

"Most economists and commentators are expecting a much slower housing market in 2022, although that doesn't necessarily mean price falls. Sharply higher mortgage rates will inevitably bite, but it's probably too early for this to show up in the data."

His comments follow last week's Barfoot & Thompson numbers which showed strong sales activity.

Peter Thompson, Barfoot & Thompson managing director, has announced that further price records were set and more than 200 properties were sold for $2 million-plus.

December's average $1,278,647 was up 7.4 per cent for the quarter and 17 per cent annually. But the $1,235,000 median was up 22.9 per cent annually, he said.

Lister and many others including the Reserve Bank say brace for a change.

Advertisement
Advertise with NZME.

"I wouldn't underestimate the impact of higher interest rates. Low interest rates have been the single biggest driver of this housing boom in my opinion, so a sharp reversal in the cost of money will definitely have an impact. The 1yr mortgage rate moving from 2.2 per cent to 3.7 per cent within six months is big," Lister said yesterday.

Saveshare

Share this article

facebookcopy linktwitterlinkedinredditemail
Advertisement
Advertise with NZME.

Latest from Business

Premium
Business

Market close: Two takeover moves and a possible sell-down make for intriguing day

11 Dec 05:17 AM
Premium
Business

Ian McCrae: How Te Whatu Ora strangled the health tech Golden Goose

11 Dec 05:00 AM
Business

Mystery player makes non-binding offer for Rakon

11 Dec 04:04 AM
Premium
Business

Watch: Why this man flew from San Fran to NZ for only 4hrs

11 Dec 03:29 AM

More houses coming

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Market close: Two takeover moves and a possible sell-down make for intriguing day

Market close: Two takeover moves and a possible sell-down make for intriguing day

11 Dec 05:17 AM

Amid the excitement, the NZ sharemarket slipped nearly half a per cent.

Premium
Ian McCrae: How Te Whatu Ora strangled the health tech Golden Goose

Ian McCrae: How Te Whatu Ora strangled the health tech Golden Goose

11 Dec 05:00 AM
Mystery player makes non-binding offer for Rakon

Mystery player makes non-binding offer for Rakon

11 Dec 04:04 AM
Premium
Watch: Why this man flew from San Fran to NZ for only 4hrs

Watch: Why this man flew from San Fran to NZ for only 4hrs

11 Dec 03:29 AM
Kiwi’s business dream a global winner
sponsored

Kiwi’s business dream a global winner

About NZMEHelp & SupportContact UsSubscribe to NZ HeraldHouse Rules
Manage Your Print SubscriptionNZ Herald E-EditionAdvertise with NZMEBook Your AdPrivacy Policy
Terms of UseCompetition Terms & ConditionsSubscriptions Terms & Conditions
© Copyright 2023 NZME Publishing Limited
TOP