20 December 2024
Every December I am surprised how soon the year has passed by, and this year is no exception. It has been a very eventful year, with the elections and the cost-of-living crisis being the more significant events that we have all been affected by. With Christmas just a week away, I would like to thank all our readers for their interest in our newsletter and I wish you all a Happy Holiday Season. I look forward to catching up with you and sharing the news and my views about the property market in the new year.
The photo below was taken by me on my recent trip to Cambodia. It shows the famous Angkor Wat, a famous Hindu-Buddhist temple complex that was built in the 12th Century. Amazing!
More activity but low prices
As per the latest REINZ 2024 property report, the data shows a 1.2% decrease in the Auckland median sale price, and a 6.3% increase in the sales count compared to the same period last year. Compared to the previous month, the Median Price is up 3.8%. REINZ reports that while there is more activity in the property market, it expects a static market during the holiday period.
To view the full REINZ report, click here.
Auckland median sale price movement over last 5 years
Graph is based on statistical data published by REINZ.
The graph shows that while prices are considerably down from the peak in December 2021, they have been trending upwards over the last six months. I would also like to highlight the fact that the median price is up 20% compared to November 2019. So anyone who bought their property prior to November 2019 can expect a capital gain of at least 20% if they sold now.
Property Investor Insights September 2024
Economist Tony Alexander shares his insights in his latest Property Investor report, which compiles the response he has received from 330 property investors. The results show the following:
1. Investors have very little interest in purchasing a newly built dwelling.
2. Banks are seen as more willing to advance funds than before.
3. Finding a good tenant remains difficult.
You can read the full report here.
For Rent
237 Sturges Road, Henderson, Waitakere City, Auckland 0612
$650 Per Week
3 Beds, 2 Bath
