Median house prices in Auckland have increased by 2.9% to $885,000 – up from $860,000 at the same time last year – the highest price in 32 months, according to the latest data from the Real Estate Institute of New Zealand (REINZ). “These results are in line with the REINZ House Price Index (HPI) which saw property values in Auckland increase 2.7% annually to a new record high of 2,923,” said REINZ.
Read MoreChristmas has come early for those actively involved in the Auckland Market as data from the Real Estate Institute of New Zealand shows that both house prices and sales volumes were significantly on the rise in November.
Read MoreIt seems Christmas has come early for those looking to buy and sell as buyer confidence has returned to the market at a record high, just as Barfoot and Thomson report higher sales figures for the month of November.
Here’s what you need to know:
Read MoreAccording to the latest data released by CoreLogic QV, the average residential property values in Auckland have risen by 1.3% over the three months to November 2019. But taken annually, this change comes out to be 1.2%, with the average value being $1,038,477.
Read MoreFollowing suit from their Official Cash Rate (OCR) announcement, the Reserve Bank (RBNZ) has announced that the current Loan-to-value (LVR) restrictions will also stay at their current levels. New data from the RBNZ reveals that both First Home Buyers (FHB) and Investors have both increased their overall mortgage lending.
Read MoreMortgage rate may have possibly reached their lowest point in this cycle, fresh off the announcement from the Reserve Bank to keep the OCR on hold at 1%. The Reserve bank has backed up what the big banks have been predicting, with a recent survey reporting increased signs of rising house price expectations.
Read MoreThe Auckland property market continues to heat up with increased buyer interest recorded in the last month, as prices remain steady. The Reserve bank surprised economists last week, announcing it will leave the Official Cash Rate (OCR) at its current level of 1%.
Read MoreNew data from Core Logic reveal that Auckland residential listings have remained varied across the year, with clear impacts on values, but summer volumes are beginning to tighten things up as auction numbers remain steady – and possibly increasing toward summer.
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