Auckland suburbs buck nationwide static price trend

Thursday 22 March 2012

Nationwide property sales rose 37% and Auckland sales 30% on the year earlier last month, but price growth remained static.

By The Landlord

The latest Crockers Auckland sales price table revealed that despite the large year-on-year increase in both nationwide and Auckland sales, prices are up just 1%.

From February 2011 to February 2012 the nationwide median average price rose from $350,000 to $355,000 and the Auckland average increased from $465,000 to $468,000.

However, greater fluctuations are revealed in both sales numbers and average prices within the Auckland region.

The largest rise in sales volumes and price was recorded in Manurewa, where sales jumped 135% from 37 to 87 and the average price climbed 34% from $254,000 to $340,000.

Only two Auckland suburbs recorded a year-on-year fall in sales during February, Birkenhead and Devonport, down 11% and 32% respectively.

The majority of suburbs recorded double-digit rises, with large increases in sales seen in Mt Albert (up 88%), Franklin (84%) and the Gulf Islands (71%).

As expected, price rises far outstrip the national average across the majority of Auckland suburbs, though five locations did record falls; Henderson (down 6%), Upper Harbour (5%) and Devonport, Hibiscus Coast and Rodney North (2%).

Manurewa recorded the strongest year-on-year average price growth but double-digit rises were also recorded in Eastern Suburbs (22%), Thames/Coromandel, Ellerslie/Panmure (19%) and Mt Roskill/Onehunga/Penrose (18%).

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