KEY POINTS:
Auckland suburban house values are still in a strong phase, with prices in many areas rising.
Winter was this week blamed for the country's national median sale price dropping from $347,500 to $345,000, well off the year's record of $350,000.
But Auckland was seen as somewhat of a
saviour and the Real Estate Institute picked it out for special praise.
"Auckland prevented a potentially greater fall in the national median price," the institute said on Thursday of its July sales data.
So the Weekend Herald has presented a detailed comparison of Auckland suburban prices from June and July this year, and July last year to show how your area is performing.
Smile if you live in the blue-ribbon eastern suburbs. They showed some of the biggest gains with prices up by almost $80,000 in the 12 months from July last year to last month, from $711,500 to $790,000.
Prices in the City/Pt Chevalier area are often forced down by a high number of cheaper apartment sales but this area still did well lately, rising $12,000 in the year from $348,500 to $360,000.
Mt Albert has come off its high of $543,000 in June this year, dropping by $73,000 to $470,000 last month. This was one of the largest drops, a trend often ascribed to lower volumes of sales.
Prices were down in areas such as Papatoetoe, but only by $13,000 from June to July.
Prices are up in many areas, including Albany, Glenfield, Henderson, Titirangi, Onehunga/Penrose, on islands such as Waiheke and Rakino, the eastern beaches and Hibiscus Coast.
The Waitakeres saw the biggest price shift, from $775,000 last July to $948,510 in June. But last month's sales were back to a more realistic $667,500.
The 20,000 agents who work in the sector are finding the market harder than it was. Places take longer to sell and the amount of business has fallen.
Instead of monthly tallies of about 10,000 property sales, agents made 6660 sales last month, the institute reported.
Of the 12 districts throughout New Zealand, prices dropped in six, five had rises and one was unchanged.
A new study has found home ownership within the Pacific community has been steadily declining since 1991, with only a third of that community in New Zealand owning their own home.
The Pacific population was, on average, younger, poorer and growing faster than others.
In presenting the study, Ana Koloto said there were strong aspirations towards home ownership in the Pacific community.
But the need for larger homes to accommodate big families, and meet cultural expectations around hospitality and family meetings, was confounded by low household income levels and difficulties Pacific Islanders often faced in accessing housing information.
Cultural factors provide opportunity and constraint, Dr Koloto said.
"The strong expectation that Pacific people will contribute financially to family, church and community can be offset by opportunities to call on family for financial support."
Research participants found it hard to access information, and many were unaware of support that was available through government agencies.
Stronger links needed to be formed with Pacific groups to improve access to information, services and finances. Initiatives to allow Pacific people to benefit from Pacific cultural practices, including income sharing among extended families, should be developed.
The research was carried out by Koloto & Associates with the New Zealand Institute of Economic Research, and Gray Matter Research.
