House Prices

Harcourts reports market urgency

A sense of urgency has taken hold in the New Zealand property market, real estate agency Harcourts says.

Tuesday, December 16th 2014

It has released its statistics for December, showing an increase in turnover in all regions except Christchurch.

Average house prices in Auckland and Northland were up 8% to $709,823.

Wellington prices increased 5% on average, to $377,566. Christchurch's inched up 2% year-on-year to an average $488,250.

The northern region experienced a 5.4% year-on-year drop in new listings and a 24.7% increase in written sales.

The central region reported a 22.3% increase in written sales, Wellington a 16.9% increase and the provincial South Island region a 6% increase.

Wellington had more than 8% less property on hand last month than in November 2013.

Harcourts chief executive Hayden Duncan said the Christchurch market had eased a little and there was more choice available to buyers as new construction created more properties for sale.

Total new listings in Christchurch were up 11% from the same time a year ago. Written sales were down 5% and property on hand increased 28.2%.

Duncan said: “Listings throughout the country have been strong throughout spring but we do expect to see the traditional decline in volume as the holiday period approaches.”

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