Northern News : January 9th 2013
12 NORTHERN NEWS, JANUARY 9, 2013 Take the stress out of the silly season! Call the property management team at Harcourts Kerikeri today to discuss the management of your fully-furnished holiday home or batch providing: International exposure Smooth transitions between tenants Maximising return on your investment property Professional management So you can relax this summer! 09 407 6125 0 AUCTION Auction Friday 11 January 2013 - 1pm. Harcourts, 99 Broadway, Kaikohe (Unless sold prior) View www.harcourts.co.nz/KK5625 Elaine Goodson P094052046 M0275599509 E firstname.lastname@example.org Bay of Islands Realty Licensed Agent REAA 2008 Living At "Windsor" - Hidden away in a quiet back section Kaikohe 13 Windsor Road www.harcourts.co.nz Northland Lifestyle&Property Real Estate Guide to Northland Advertising feature House sales increase nationwide SUMMARY Sales up almost 25% year on year Strongest monthly sales volume in 5 years National median house price at new record median of $383,250, up 4.3% on November 2011 New record median house prices for Auckland and Otago regions; Canterbury/Westland again at a record high More than 20% of all sales for the month of October were auction sales; more than 38% of all sales in Auckland were by auction. It was a robust Novem- ber real estate market leading into Christmas according to the Real Estate Institute of New Zealand. Ongoing strong demand drove sales vol- ume growth in the resi- dential property market with the number of sales up 24.1 per cent on November 2011. REINZ chief executive Helen O Sullivan says that despite a surge in new listings during spring, demand con- tinues to outstrip supply in key markets such as Auckland. The activity in the Auckland market is now starting to see some spill over into other parts of the country with increased buyer activity, she says. The lift in national sales volume to a five- year high is indicative of the real estate market gaining in confidence. Volumes remain well below previous highs set in 2003 -- 2006, indicat- ing that tight supply remains the key factor behind increasing prices. Sales volumes REINZ data shows there were 7454 uncon- ditional residential sales in November, an increase of 24.1 per cent compared with the same time last year and an increase of 12.3 per cent compared to October. On a seasonally adju- sted basis November s sales were 1.2 per cent lower than October and 19.3 per cent higher than November 2011. All regions recorded increases in sales volume compared to November last year. Prices The national median house price increased by $3250 from October to $383,250 in November and is up 4.3 per cent compared to November last year. Auckland s median house price moved up 1.9 per cent compared to October to a new record median price of $540,000. For the month of November, Northland recorded the highest lift in prices for the month with an increase of 10.8 per cent. The REINZ Stratified House Price Index, which adjusts for varia- tions that can impact on the median price, is 7.3 per cent higher than November 2011 and is at another record high. Days to sell The national median days to sell eased by one day in November to 32 compared to October and also improved by two days compared to November 2011. Northland recorded the longest number of days to sell at 58. Over the past 10 years the median days to sell for the month of Novem- ber has averaged 33 across New Zealand. Auctions Nationally there were 1539 dwellings sold by auction in November representing 20.7 per cent of all sales, up from 909 sales in November 2011. Further Data Across New Zealand the total value of resi- dential sales, including sections was $3.62 billion in November, compared to $3.15b in October and $2.67b in November 2011. For the 12 months ended November this year the total value of residential sales was $33.54b. Property prices up again The increase in nationwide property values continues to be driven primarily by Auckland and Canterbury where demand outstrips supply, Quotable Value spokesman Jonno Ingerson says. ''Across the rest of the country values have been steady or increas- ing very slightly over the past six months, however in the last month or two many of these areas have begun to falter,'' he says. ''Outside Auckland and Canterbury the property buyers are generally cautious and there are few quality properties on the market for them to choose from. ''As has been the case for several years now, well presented properties in sought- after areas will tend to sell quickly for good prices.'' The latest monthly property value index shows values continued to climb in November, continuing the gradual increases that began in April 2011. Values are up 1.9 per cent over the past three months, 5.7 per cent up over the past year and 1.5 per cent above the previous market peak in 2007. ''This is traditionally a quiet time of the year for house buying,'' Mr Ingerson says. ''Since the 2008 market downturn this has tended to be a time of the year when people take stock and recon- sider their options. ''Given that we have seen signs of a slight slowdown in values over the past month or two in many areas, even in parts of Auckland, it will be interesting to see what early 2013 brings.''
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