Hawke's Bay Property Investors' Association

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11-02-2011

What's happening with house prices in your region

Landlords.co.nz

Landlords.co.nz looks at the residential house price highlights for January 2011.

Residential Highlights - January 2011

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

Northland

Contrary to the national trend the Northland median price strengthened from $296,000 in December to $315,000 last month, almost 2.3 per cent up on the January 2010 median of $308,000. But the number of residential property sales fell from 95 in December to 65 last month, which is also fewer than the 83 sold in January 2010.

In Whangarei County, the median price increased from $281,000 in December to $440,000 last month, significantly up on the January 2010 median of $410,000. Sales eased up from 13 in December to 14 last month, but are down on the 17 in January 2010.

Sales in Whangarei City dropped from 51 in December and November 2010 to 24 last month  and are also down on the 38 in January 2010. The median price fell from $277,500 in December to $252,500 last month, and is down on the January 2010 median of $292,500.

Auckland

From $477,000 in November 2010, the Auckland district median price declined to $455,000 in December and $450,000 in January, but is only $500 below the median price of $450,500 in the same month last year. January's sales of 1,115 are down on 1,428 in December and 1,240 in January 2010.

For a North Shore City home the median sale price decreased from $550,000 in November and December to $490,000 last month, and is down on the median of $535,527 in January 2010. The number of sales fell from 297 in December 2010 and 249 in January 2010 to 242 last month.

Sales in Waitakere City eased from 182 in December to 171 last month, slightly less than the 177 properties sold in January 2010. But the median price rose to $369,400 last month from $365,000 in December, though it is still below the January 2010 median of $383,000.

The median price for an Auckland City dwelling decreased to $492,500 in January from $500,000 in December but is up on the January 2010 median of $480,000. At 340, sales are down on the 456 in December and the 368 in January 2010.

In Manukau City the median residential property price eased from $455,000 in December to $454,000 last month, which is also a decrease on the median of $468,000 in January 2010. The number of sales fell from 295 in November and December to 211 in January, 40 below the January 2010 median of 251.

The Papakura District median price increased to $332,500 in January from $300,000 in December but is still down on the January 2010 median of $337,500. The 32 sales in Papakura in January is down on the 37 sold in December but up on the 30 in January 2010.

From $490,000 in November and $465,000 in December the median price for Metropolitan Auckland homes declined again last month to $451,500, also a reduction on the median price of $460,000 in January 2010. Sales of 996 are down on the 1,267 in December and the 1,075 in January 2010.

Sales in the Rodney District fell to 65 last month from 89 in December, and are also down on the 79 sold in January 2010. However the median price increased to $470,000 in January from $432,000 in December but is still below the January 2010 median of $490,000.

The median price for a Franklin District home eased further from $393,000 in December to $370,000 in January but is up on the median of $349,000 in January 2010. At 24, sales are down on the 40 houses sold in December, and the 43 in January 2010.

In Thames/Coromandel monthly dwelling sales eased further to 30 in January from 32 in December, and are also below the 43 sold in January 2010. The median price strengthened again from $340,000 in December to $385,500 last month and is up on the January 2010 median of $358,000.

The median price for an Outer Auckland home increased from $410,000 in December to $435,000 last month and is up on the median of $415,000 in January 2010. But sales volume decreased from 161 in December to 119 last month (January 2010: 165).

Waikato/Bay of Plenty/Gisborne

At $315,000 the Waikato/Bay of Plenty/Gisborne district median price was the same as December but is 1.6 per cent down on the January 2010 median of $320,000. Altogether 427 houses were sold in the district, down on the 620 in December and also fewer than the 499 sold in January 2010.

In Waikato Country the number of houses sold is down to 74 from 83 in December and 81 in January 2010. From $275,000 in December the median price slid further to $245,000 last month, also a decrease on the January 2010 median of $280,000.

The median price for a Hamilton City house rose from $326,750 in December to $329,000 last month and is up on the January 2010 median of $319,538. Sales volume decreased from 177 in December to 88 residential properties last month, also down on the 112 sold in January 2010.

In Western Bay of Plenty Country the median price rose from $367,500 in December to $392,500 in January and is up on the median of $361,000 for January 2010. From 46 in December, sales volumes eased back to 44 last month the same as in January 2010.

The median price for a house in Mt Maunganui/Papamoa eased from $410,000 in December to $406,250 last month but is up on the January 2010 median of $395,500. At 44, sales were down on the 49 in December but up on the 40 in January 2010.

In Tauranga the median price decreased to $320,000 last month from $379,500 in December and is also down on the January 2010 median price of $349,000. Sales of residential properties decreased from 84 in December to 66 last month, also down on the January 2010 figure of 79.

From $220,000 in December Rotorua's median price strengthened to $264,250 in January, and is up on the $230,000 median in January 2010. At 34, dwelling sales are down on the 55 sold in December, and the 39 in January 2010.

In Taupo the median price recovered from $315,000 in December to $343,750 last month and is also up on the January 2010 median of $330,000. There were 20 sales in January down on the 38 in December and the 40 in January 2010.

At $116,250 the median price for King Country residential properties in January is a further decrease on $131,000 in November and $130,000 in December, and well down on the January 2010 median of $163,000. But sales increased to 14 residential properties from 9 in December and 12 in January 2010.

The median price for a Gisborne City home fell from $223,000 in December to $205,000 last month, also a decrease on the January 2010 median of $225,000. At 18, the number of sales is down on the 33 in December and the 21 in January 2010.

From $275,000 in December the Eastern Bay of Plenty Country median price eased back to $274,000 last month and is down on the January 2010 median of $288,500. There were 24 houses sold compared to 43 in December and 30 in January 2010.

Hawkes Bay

In the Hawke's Bay district the median price decreased from $285,000 in December to $270,500 last month, and is 2.7 per cent down on the January 2010 median of $278,000. The number of dwellings sold decreased from 169 in December to 123 last month, which is also below the 144 in January 2010.

From $315,088 in December, the Napier City median price dropped to $270,000 last month and is down on the January 2010 median of $302,750. Sales totalled 49 houses, down on the 78 sold in December, and the 66 sold in January 2010.

In Hastings City the median price remained the same as December at $290,000, but is down on the January 2010 median of $302,500. Sales declined from 55 in December to 49 in January, also a decrease on the January 2010 sales of 52.

From $243,750 in December the Hawkes Bay Country median price jumped to $364,000 last month, and is also up on the January 2010 median of $230,000. There were just 6 sales, half the 12 in December 2010 and less than the 10 in January 2010.

Manawatu/Wanganui

Across the Manawatu/Wanganui district the median price recovered to $227,500 in January from $220,000 in December, but is nearly 1.1 per cent down on the median of $230,000 in January 2010. Sales at 151 are down on the 177 sold in December and the 194 in January 2010.

From $258,500 in December the median sale price for residential properties in Palmerston North City increased to $267,500 in January and is up on the $264,000 recorded in January 2010. Sales of 62 are down on the 72 recorded in December and the 69 houses sold in January 2010.

In the Manawatu region the median price recovered from $221,250 in December to $243,000 last month, but is still slightly down on the January 2010 median of $244,000. At 109, the number of sales is down on the 134 sold in December and on the 143 sold in January 2010.

From $175,000 in December the median price in Wanganui City fell further to $165,000 last month, and is also down on the January 2010 median of $208,000. There were 29  residential properties sold in January the same as December, but down on the 39 sales in January 2010.

The median sale price in the Wanganui region fell from $197,000 in December to $167,500 last month, and is also down on the January 2010 median of $189,000. At 42, sales were down on the 43 houses sold in December and the 51 in January 2010.

Taranaki

The Taranaki district median residential property price increased from $268,000 in December to $273,000 last month, but is 9 per cent down on the January 2010 median of $300,000. Across the district 118 houses were sold, up on the 104 in December but less than the 123 in January 2010.

In the Taranaki Country area the median price weakened to $228,750 in January from $232,500 the previous month, but is still up in the January 2010 median of $205,000. Sales totalled 28 last month, more than the 16 in either December or January 2010.

From $325,000 in December the median sale price for a New Plymouth City residential property fell to $307,000 last month, and is down on the median of $350,000 in January 2010. At 51 the number of sales is slightly down on the 52 in December and 69 in January 2010.

Wellington

After staying steady at $400,000 in November and December, the Wellington district median residential property price slipped back to $370,000 last month, 1.3 per cent below the January 2010 median of $375,000. Sales for December decreased to 377 in January from 586 in December and 420 in January 2010.

In the Wairarapa, the median price fell further from $222,500 in December to $212,000 last month, and is also well down on the $277,500 median in January 2010. At 39 the number of houses sold is down on the 46 in December and the 50 in January 2010.

The median price for Upper Hutt residential properties rose from $310,000 in December to $345,000 last month and is also up on the median of $303,250 for January 2010. Sales of 34 residential properties last month are less than half the 75 sold in December, and down on the 42 sold in January 2010.

The Hutt Valley median dropped last month to $302,500 from $372,000 in December, and is $55,000 down on the January 2010 median of $357,500. January sales of 71 are down on the 111 sold in December but more than the 58 sales in January 2010.

For a house in Otaki/Paekakariki the median price rose from $350,000 for the previous two months to $370,000 last month, an increase on the median of $345,000 in January 2010. The number of sales eased from 66 in December to 60 last month, 10 below the total dwelling sales in January 2010.

From $410,000 in December, the median price in Pukerua Bay/Tawa fell to $360,000 last month, and is also down on the January 2010 median of $383,750. At 47 last month, sales were down on the 63 in December and the 52 in January 2010.

The Central Wellington median price decreased from $522,500 in November and $459,500 in December to $373,000 last month, and is also down on the January 2010 median of $400,000. The number of sales at 22 in January is half the 44 in December and also down on the 37 sold in January 2010. 

Nelson/Marlborough

Across the Nelson/Marlborough district the median price decreased from $327,000 in December to $318,500 in January, and is 6.7 percent down on the January 2010 median of $341,250. Residential property sales decreased last month from 159 in December to 136 last month, also down on the 148 sales in January 2010.

In Nelson City the median price eased up from $329,500 in December to $330,000 last month, an increase on the January 2010 median of $315,000. Sales volume decreased from 64 in December and 61 in January 2010 to 49 last month.

In Marlborough the median price fell further from $300,000 in November and $288,000 in December to $273,000 last month and is also down on the January 2010 median of $340,500. At 43, sales were down on the 59 in December but up on the 37 in January 2010.

Canterbury/Westland

From $305,000 in December the Canterbury/Westland district median price eased again to $300,000 last month and is nearly 6.1 per cent below the January 2010 median of $319,500. At 458, sales are down on the 637 in December and the 512 in January 2010.

At $330,000 last month the median price in Christchurch City is slightly down on $330,500 in December but up on the January 2010 median of $328,200. The number of sales decreased from 426 in December to 271 last month and is also down on the January 2010 median of 339.

The median price for a home in Rangiora rose from $327,500 in December to $345,000 last month and is also an increase on the January 2010 median of $315,000. Sales volumes increased from 24 properties in December to 25 last month (January 2010: 23).

From $357,500 in December, the Canterbury Country home median price increased to $373,750 last month, which is also up on the January 2010 median of $368,000. Sales at 27 were down on the 30 properties sold in December and the 33 in January 2010.

The median price of dwellings sold in Mid-Canterbury rose from $213,500 in December to $257,500 last month, but is down on the median of $317,000 in January 2010. The number of residential property transactions increased from 18 in December and 20 in January 2010 to 35 last month.

The median price in Timaru eased up from $207,500 in November and $215,000 in December to $238,100 last month, and is above the median of $220,000 in January 2010. At 38, sales are down on the 47 properties sold in December 2010 but up on the 28 in January 2010.

The median price for a house on the West Coast eased up last month to $200,000 from $196,000 in December, but is still down on the January 2010 median of $206,000. Sales were down from 37 in December to 22 last month but higher than the 12 in January 2010. 

Central Otago Lakes

Across the Central Otago Lakes district the median price strengthened from $400,000 in December to $402,500 last month, but is 1.8 per cent down on the median of $410,000 in January 2010. Sales at 54 are down on the 67 in December and 58 in January 2010.

From $429,000 in December the Queenstown median price rose to $485,000 last month, but is still below the January 2010 median of $531,250. Sales volumes fell from 40 in December to 30 last month (January 2010:26). 

Otago

From a rise to $235,000 in December the Otago district median price fell back to $205,500 last month and is nearly 16.7 per cent down on the January 2010 median of $247,500. Across the region 138 dwellings sold last month, down on the 231 sales in December and the 151 in January 2010.

The median price in Dunedin City decreased from $249,500 in December to $221,800 last month, also a decline on the January 2010 median of $257,500. At 106, sales were down on the December total of 179 and 122 in January 2010.

Southland

In Southland the median price fell further from $189,000 in November and $184,000 in December to $180,750 last month, and is 1 per cent below the January 2010 median of $182,500. Sales volumes also decreased from 124 in December to 90 last month, 4 down on the 94 properties sold in January 2010.

In Invercargill the median price rose from $180,000 in December to $197,500 last month, an increase on the January 2010 median of $185,000. At 57, sales are down on the 81 sold in December 2010 and 71 in January 2010.

The median price for a house in Gore decreased from $183,000 in December to $161,000 last month, but is up on the median of $132,000 in January 2010. Total sales eased from 19 in December to 14 last month (January 2010: 8).

Source: Landlords.co.nz

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