Find out the average house price by suburb in Auckland’s property market in 2022. Finer Homes is proud to offer specialist home staging services in South Auckland. Home staging can make all the difference in selling your Auckland home in a competitive market.
Tony Chaudhary’s team provides efficient services to a growing client base, both national and international. They are valued for their hard work, smart marketing strategies, and proven negotiation skills that Tony has consolidated. Tony and the team invest significant time and energy to ensure that every avenue is pursued to find the right buyer for each property he is entrusted to market. It stated that there had been three consecutive months with price declines and that it now expects house prices to fall 10% by 2022. There was also an increase in median days to sell – up by 11 days to 42. The fastest-growing house in Papakura-Franklin’s suburbs over the past 22 years (Jan 2000 to Dec 2021) was Wesley, which averaged 8.57% per annum.
- The suburb that grew the slowest over that period was Hobsonville, which grew at a rate of 6.79% per year.
- This is testament to the investment made by real estate firms in technology and new ways of working in the aftermath of the 2020 outbreak.
- Here at Finer Homes, we’re proud to provide specialist home staging services to South Auckland.
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Ranui is the most affordable suburb with a median home price of $989,000. The suburb that grew the slowest over that period was Goodwood Heights, which grew at a rate of 6.70% per year. Shamrock Park is the most expensive suburb with a median home price of $2262,700. While the most affordable suburb is Manukau, which has a median house price of $614,350. The suburb that grew the slowest over that period was Albany, which grew at a rate of 6.68% per year.
The best expensive suburb is Stanley Point, which has a median house price of $2,626,800. Birkdale is the most affordable suburb with a median home price of $1,081,300. The suburb that grew the slowest over that period was Auckland Central, which grew at a rate of 4.73% per year. Herne Bay is the most expensive suburb with a median home price of $3,542,550. The most affordable suburb is Auckland Central, which has a median house price of $614,700.
New Zealand, except Auckland, saw 16.7% of properties being sold by auction. This is an increase of 8.2% in August 2013. It is the highest August month record since records began. Auckland’s house price values increased 27.9% year-on-year to 3,985 a new record high. Southland, Otago, and Taranaki were the only regions that did not achieve a new high in the REINZ House Prices Index in August. The HPI for New Zealand excluding Auckland showed house price values increased 33.8% from August 2020 to 4,033 in August 2021, a new high on the index and the highest percentage increase since records began. “The ability and confidence of people to buy and sell property within the alert level restrictions appears to differ across the country, which is reflected in the number of properties sold in each of the regions,” says Baird. Median prices for residential property across New Zealand increased by 25.5% from $677,400 in August 2020 to a record $850,000 in August 2021.
The Garden City’s property market has shown resilience in recent months. Only four of the 85 suburbs saw their median values fall by more than one percent. Westpac stated that REINZ’s February report showed that the housing market continued to soften. According to the bank, a drop in house prices will not be a sudden plunge but a gradual decline. Jen Baird, chief executive of REINZ, said although house prices continue to increase – albeit at a more moderate pace – sales activity is down and there are more properties on the market. Assuming the long term fundamentals of either property market have not changed, Auckland’s median house price should track back to this long term average.
The median Auckland house price for the past 12 months was 140.03% higher than New Zealand’s. That is 0.23% below its long term ratio, which suggests that Auckland’s house prices are roughly where they should be over the long term compared to other regions. Although auction rooms may have been quieter after Alert Level 4 was implemented, the latest data shows that this was a shift to digital space. In August 2021, 26.0% of all properties were sold by auction.
Auckland had the highest percentage of auctions across the country with 39.5% of properties selling under the hammer up from 30.3% at the same time last year. “We would expect the median days to sell a property will increase in the coming month as we see the roll-on effect of lockdown and delayed sales,” states Baird. This is testament to the investment made by real estate firms in technology Tom Mc Cartney and new ways of working in the aftermath of the 2020 outbreak. Despite Auckland’s strong performance, the median house price for New Zealand excluding Auckland still hit a new record of $700,000, up by 22.8% from $570,000 in August last year. You are a valued client and deserve transparency.