Auckland house price rise gap narrows on rest of country

Monday 21 May 2012

Auckland house price rises continued to outpace the rest of the country in the year to April, but at a slower rate than last month, according to the latest Crockers Auckland sales price table.

In the year to April the median sales price for an Auckland house rose 2% to $490,000 against a nationwide rise of 1% to $365,000.

The price gap has narrowed slightly from the March figures which revealed the Auckland median price was up 5% against a nationwide rise of 1%.

A narrowing of the gap between Auckland and the rest of the country was also apparent in the sales figures.

In March Auckland sales were up 17% against a nationwide rise of 25%, while the April figures revealed a 16% rise in Auckland sales against a 14% nationwide increase.

Figures for individual Auckland suburbs revealed a more mixed picture however, reflecting what Crockers sales manager Peter Holmes said was the city's fragmented market.

"The Auckland central market is doing really well, the leafy suburbs of Epsom, Remuera and Mt Eden are still performing extremely well, Ellerslie is performing really well, parts of the North Shore are still doing well," he said.

"But the rest of the market, suburb-to-suburb, is still patchy but resilient at the same time."

Of the 27 Auckland suburbs included in the table 17 saw prices above April 2011 levels, two were static and eight were down.

The largest price rise was recorded in Ellerslie/Panmure, up 37% from $452,000 to $620,000.

The largest price fall was seen in the Waitakeres - also March's largest faller - down 57% from $1,100,000 to $477,500.

The Waitakeres also saw the largest year-on-year rise in sales, up from one in 2011 to six in April 2012.

Only three Auckland suburbs saw fewer sales than in April 2011, Eastern Suburbs and Ellerslie/Panmure (both -6%) and Glen Eden (-9%).

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