The Real Estate Institute said in its monthly statistics out last week that its house price index for Auckland was up 1.8% on a year ago but down 1% in the last 3 months.
[The institute released its figures on Wednesday.]
The median price for the region was up 5% ($41,000) over the year to $865,000 and up 13% on the isthmus, 12% in Manukau, 8% in Rodney (on old council boundaries).
Sales were down 27.5% compared to a year ago, but in Papakura that was 9%, and in Franklin and on the North Shore it was 15%.
The institute said the average number of days to sell in Auckland had eased in May – it’s extended from 35 days in April and 32 days a year ago to 40 days, compared to a May 10-year average of 36 days. Inventory was up from 13 weeks to 22 weeks from a year ago.
Nationally, the median house price rose 6.7% ($34,000) from a year ago to $540,100 and the median hit record highs in 4 regions – Northland $450,000, Manawatu/Wanganui $269,000, Nelson/Marlborough $483,250 & Southland $238,000.
Sales nationally fell 18.4%.
The number of properties for sale in Auckland increased by 2814 (47%) on a year ago, but outside Auckland the number fell by 2683 (14%).