“In the same month last year, there was confidence and urgency in the market, and we were relatively untouched by what has happened in 2022.” Harcourts Cooper & Co general manager Rob Carter says. “This year has seen rising interest rates, the soaring cost of living, property regulation, adverse global events, tightened lending criteria, macro-economic impacts and tax legislation, to name just a few.”
“However, the REINZ has indicated that increasing enquiries and a notable increase in the numbers of particularly first home buyers is being reported in the market, and we believe this augers very well for a more buoyant 2023.”
On the North Shore, the $1.199 million median price last month was down 18.2% on October last year. The 247 sales for the month equated to a 41.3% reduction, and it took 43 days to sell a property – down 10 days.
In Rodney, the $1.23 million median price was down 6.5%, and 147 sales resulted in a 30.3% reduction. It took 52 days to sell, up three days on October last year.
The Northwest saw a median price of $1 million, equating to a 10.9% decrease on October last year. The 260 sales were down 45.5%, but it took 45 days to sell – up nine days on 2021.
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