Friday , December 4 2020

Auckland Housing Price Growth: How did your suburb go?

Takapuna has the fastest growing average house prices in Auckland, according to latest data from the New Zealand Real Estate Institute (REINZ).

For the six months ended March 2019, 67 houses were sold in Takapuna at an average price of 1.3 million dollars, which is 30% more than in the same period last year, when 83 houses were sold at an average price of 1 million USD.

Raising house prices in Takapuna increases the trend on the north coast, and there are large drops for traditionally popular suburbs such as Parnell (down 20.8%) and Kohimarama (21%).

Read more: The Auckland suburbs, where houses are sold over the CV

"Takapuna often ranks high in popularity, but given that cooling house prices are recorded on the North Coast of Auckland, the latest figures may be a surprise for some," says REINZ CEO Bindi Norwell.

Average house prices in Onehunga are the second fastest growing with an average home price of $ 925,000 for 127 homes sold. This is 19.4% more than the same period last year ($ 775,000).

Morningside ranks third with an average house price increase of 18.9%, with prices rising from $ 841,300 to just over $ 1 million.

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Glen Innes was one of the surprising suburbs in the fastest growing list with an average increase of 12.9%, jumping from 890,000 to 1,005 million dollars.

"As far as Glenn Innes is concerned, Tamaki's recovery program has probably played a role in substantial price growth as the community continues to see a number of new houses and the promise of a more attractive and sustainable place for existing and new residents of the area said Norvel.

The biggest decline was in Mount Albert, with average house prices falling by 31.2% to less than $ 1 million. During the six months ending in March 2019, 112 houses were sold to Albert at an average price of $ 805,250, while 107 houses were sold at an average of $ 1.17 million at the same time last year.

The average house prices in Royal Oak also fell below the $ 1 million dollar from $ 1.16 million to $ 865,000, down 25.4 percent. Owen Vaughn Editor says: "REINZ data and surveys published earlier this month show that some suburban Auckland are more vulnerable than others – with OneRoof data showing the average home sales price in Mission Bay, Kingsland, Wynawai and Hillsborough under their CVs.

"Much of Auckland remains stable, although houses sell at or above CVs in the 12 months to March." While we can expect to see more of these monthly fluctuations in prices, the Auckland real estate market will remain unchanged for the next 12 to 24 months. "

On the North Coast of Auckland, average house prices in Long Bay fell 24.8 percent from $ 1.58 million to $ 1.18 million, while in Albany they fell 20.5 percent from $ 837,000 to $ 665 $ 500.

Popular central locations such as Parnell (-20.8%), Mount Eden (-20.1%), Herne Bay (-17.2%) and Freemans Bay (-17%) have experienced a significant decline.

"Seeing some of the central suburbs down the list does not necessarily have to be a surprise." The suburbs like Eden, Westmin and Herne Bay slowly lower prices for a while, "Norvelt said.

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