House prices remain strong as sales volume eases
House prices remain strong in Auckland as 2022 gets underway. Median sale price data for NZ’s most populous region shows an increase of 20.6% year-on-year to $1,200,000 – up from $995,000.
January often sees sales activity slow, Auckland saw the number of properties sold decrease 32.2% annually — from 1,951 in January 2021 to 1,323 in January 2022.
A closer look at the North Shore and North West echos the above. The lack of available stock contributing to strong house price growth and competition in our auction rooms – resulting in a 70% clearance rate for January.
Across our Cooper & Co offices, listing boards show strong activity with many new properties launching – or having already launched in February. The increased availability should see more choice for buyers, perhaps increasing sales volume but having the opposite affect on price growth as we settle into a steadier market.
Market update for North Shore & North West market based on REINZ market statistics for January 2021, released 15th February 2022.