State of Play in the Auckland Property Market

There has been much talk in the media recently of a rise in house sales in Auckland, but what is really the state of play in the Auckland Property Market?

Buyers are going into panic mode – as houses seem to be gone before most can even view them. Many real estate agents agree that although there is definitely a rise in sales there is also a corresponding rise in new listings. So buyers need to hang in there and keep in touch with their agent.

Buyers should still do their research and take the time to view properties – making rash decisions without all the facts – is not the way to go. Pick your area, do your research and know what houses are selling for and be patient.

According to QV’s website values in the wider Auckland area have risen 3.3% over the past three months and 9.2% over the past year.

A break down by area shows, Old Auckland City continues to have the sharpest increase over the past 12 month and is up 10.7%, with North Shore and Manukau not far behind, up 8.9% and 8.1% respectively.

Values over the wider Auckland area are now 9.1% above the previous market peak back in 2007, led by old Auckland City which is 12.5% above that mark.

QV Operations Manager Kerry Stewart said

There is growing demand for more listings throughout Auckland. Good properties are still attracting numerous interested buyers, with auctions especially proving successful for many, with multiple bidders not uncommon.

Investors are also coming back into the market, most looking to on sell relatively quickly as they try to capitalise on the quick growth in the current market.

Keeping up with the market is key if you are active in the market from a property investment nz point of view. Auckland’s property market is definitely a challenging one, but the rewards are there if you are willing to do the leg work.

For further reading on Property Investment NZ, click on the articles below:

Setting Goals for Financial Independence – click here

Tips for Becoming a Property Expert – click here

Buying Rules for Property Investment – click here

5 Tips to Add Value through Renovation – click here

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