Sales volumes have returned to normal in June, they were the highest for the month of June in four years - indicating that the impact of lockdown is truly behind the country and people are making positive decisions about their futures.
Predictions that house prices would fall dramatically post COVID are not demonstrated in the market and certainly not in our area.
There are lots on New Zealanders either returning home or looking at New Zealand as a safe place to live and bring up their families and demand for good property is continuing to exceed supply so we are unsure if there will be an easing in prices in the coming months. With interest rates at all-time low now is a great time for kiwis and their love affair with property to be buying.
The median house prices continue to surpass post COVID predictions with the Auckland region up 9.2% year on year and sales volume up a similar level to 9.4%.
Auckland City was the stand out performer with the median price up 17.1% year on year and volumes up 17.5% with a lot of activities in the $2m+ Bracket.
Sales volume in franklin rose 18.5% and the median house price 7% year on year. With the median price at $745,000 in comparison to $696,000 a year ago. The median number of days to sell has risen to 45 days and in the current market this may even extend as banks are taking more and more time to process loan applications. So, the message here is to get it pre approved and act quickly or you will be disappointed.
Thinking of selling? Now more than ever strategy is the KEY. So give Victoria a call.