Strong December for Harcourts
Harcourts has backed up reports of a bumper end to 2014 in the New Zealand housing market.
Monday, January 19th 2015, 12:00AM
by The Landlord
The country’s largest real estate group reported written sales up in most parts of the year compared to December 2013.
The central North Island region reported the biggest lift, with sales up 25.5%, followed by Auckland and Northland, up 16.6%.
New listings and property on hand were down in both regions compared to the same time a year earlier.
Chief executive Hayden Duncan said he expected to see tightening supply drive prices up this year.
The upswing reported in the Wellington real estate market last month continued into
December with average house prices breaking the $400,000 mark for the first time.
Wellington had an almost 20% increase year-on-year in sales and 28.9% more listings.
Christchurch had a 2.7% drop in sales and a 4% lift in listings. The rest of the South Island was strong with 23% more listings than in 2013 and 7.4% more sales.
Dunan said Harcourts had experienced busy December month across the country with buyers eager to settle purchases quickly.
“Buyers know that the strong New Zealand economy, rising net migration and steady interest rates make investment in property a sound decision. We don’t expect any cooling in the market, particularly in Auckland, where the supply shortage is most prominent. Buyers understand that today’s prices are the best they’re likely to see,” he said.
| « No sign of December slowdown: REINZ | Rents not keeping pace » |
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