Monthly Market Update – May 2018

By Robert Carter

“How’s the market?” … “Energised, Normalised and Sustainable!”.  Reviewing May Auckland sales volumes for the past 12 years, 2018 ranked 5^th highest, arguably putting the current market on the ‘energised side of normal’.

Auckland May sales volumes increased 5.4% compared to 2017.  Auckland’s median price of $852,000 remains relatively stable – up 0.2% compared to April 2018, yet down 1.3% when compared to May 2017.

Nationally, a record median price of $562,000 was achieved in May!  The new national record and increased sales volumes further indicating energy returning to the property market.

Focusing on the North Shore Market; there were 397 sales in May at a median price of $987,500 (up 3.0% from $958,800 in April, yet down 3.2% from to $1,020,000 in May 2017).

2017 saw only year-on-year decreases for national sales volumes, so it is encouraging to see the number of properties sold has increased year-on-year for 4 out of the 5 months of 2018.

The Auckland market continued to perform on a steady and stable basis through the Autumn trading months.  As we enter the winter market listing volumes have declined slightly with buyer demand remaining relatively strong.  The combination of these factors presenting good opportunities for those looking to sell during winter.