Higher-priced number of house sales accelerates
The sales distribution in Auckland for dwellings (excluding apartments) was relatively stable, with a steady increase in higher-value properties as market values rose.
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The number of higher-priced residential sales in Auckland continues to accelerate.
Crockers market researcher Kim Sinclair says that, until 2011, the sales distribution in Auckland for dwellings (excluding apartments) was relatively stable, with a steady increase in higher-value properties as market values rose.
From 2012 the proportion of Auckland properties sold for more than $700,000 grew quickly – 27% in January 2013, 35% in January 2014 and 44% in January 2015.
The proportion of properties valued between $500,000 and $700,000 has grown slowly over this period, while those valued under $500,000 declined from 45% in January 2013 to 27% in August 2015.
The average number of dwellings sold in Auckland grew strongly in the year to January 2013 and 2014 but it has slowed in the year to January 2015. “Growth to January 2013 was seen across most price brackets, and in the year to January 2014 we see a market shift with property values increasing significantly. “This resulted in much fewer properties falling in the lower-price brackets and more properties sitting in the higher price brackets. This trend has continued into the year ended January 2015.”
Chris Hutching
Wed, 04 Mar 2015
Wed, 04 Mar 2015
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Higher-priced number of house sales accelerates
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