Anna Gibson of the NZ Herald reported that the pandemic has had little effect on the housing market. Nationally the average house price has risen by a further 9.2 per cent from last June’s, from $585,000 to $639,000 last May.
“Earlier this year, there were a number of predictions that house prices would fall post-covid,” said institute chief executive Bindi Norwell.
“However, we are yet to see any evidence of that happening with every region in the country seeing an uplift from the same time last year, and 10 out of 16 regions seeing an uplift from May.”
Norwell went on to say that prices in the Auckland region have continued to increase compared to this time last year. Not impressed yet? Then you might be surprised to know that Auckland city was the only area with double-digit increases, seeing a 17.1% rise. And it is not just the prices that are going up. The number of properties sold in June nationally rose 7.1% annually. This meant that this June represented a four-year peak for house sales compared to previous sales in the same month.
In Auckland, the number of properties sold in June increased by 9.4% year-on-year from 1878 to 2054. (IS IT 2054?)
”The figures suggest that Kiwis decided that regardless of what was going on outside of New Zealand, they were going to buy and sell.” said Nowell.
That was some eye-opening news and if you would like to join the other active post-COVID homes buyers in New Zealand then contact us today.
We would love to help you get on the property ladder!