Average Days on Market
Average sale price has decreased by
Number of Sales in the last quarter
Pleasingly, the residential market in Central Auckland has rebounded from the low activity at the start of the quarter and has gained more consistency. The general sentiment across the Auckland region is that vendors are becoming more inclined to meet the market, and buyers are serious about making decisions. The average number of days to sell has increased to 56, but it is still lower than most other Auckland regions.
A recent review of the marketplace which looked at the last four years up until 2019 showed that the average number of days on the market had extended by as much as 40 percent. The average number of sales had decreased by 45 percent since 2015, while the average sales prices were only moderately impacted with a decline of 8 percent.
Looking ahead to the winter months the overall dynamics in the economy remain positive. The confirmation that there will not be a capital gains tax is positive news for investors.
Rachel Dovey - Regional General Manager - Central & Eastern Bays
SOURCE: REINZ 3 months to end of March 2019