Dear Resident,
The number of sales of dwellings including apartments in Waitakere City for May was 454. There were 7 sections sold. The median selling price in May was $769,000 up again from last month. The average days to sell was 29.
|
Sale Prices |
|||
| Suburb |
Median selling price May 2016 |
No sold | Days to sell |
| Titirangi |
$847,500 |
22 |
41 |
| West Harbour |
$990,000 |
21 |
27 |
| Glendene |
$745,000 |
9 |
25 |
| Henderson |
$775,000 |
77 |
29 |
| Hobsonville |
$910,000 |
12 |
72 |
| Massey |
$678,000 |
51 |
28 |
| Ranui |
$720,500 |
30 |
32 |
| Sunnyvale |
$682,500 |
12 |
27 |
| Te Atatu Peninsula |
$930,000 |
29 |
28 |
| Te Atatu South |
$765,000 |
43 |
35 |
| Glen Eden |
$726,500 |
44 |
19 |
| New Lynn |
$745,000 |
33 |
30 |
| Swanson |
$740,000 |
12 |
25 |
| Kelston |
$789,000 |
11 |
22 |
| Green Bay |
$870,000 |
12 |
38 |
| Oratia |
$1,388,750 |
4 |
31 |
| Royal Heights |
$758,000 |
6 |
10 |
| Parau |
$582,500 |
4 |
13 |
Capital Gains May 2011 – 2016 Median Prices
Henderson 130.0%
West Harbour 149.1%
Green Bay 112.7%
The reserve bank left the OCR (official cash rate) at 2.25% in May. It is still worried about the rise in house prices not just in Auckland now but across the country.
Following the OCR announcement the New Zealand dollar rapidly increased against all major currencies and so made it more difficult for N.Z exporters which account for about 30% of our G.D.P.
Expect a cut in the OCR next time on the 11th of August or at the latest September. The NZ economy is going very well with 2.25—3.0% growth expected this year.
Unemployment is low and so is inflation at around 0.4%.
World events will no doubt muddy the economic waters this year. The US presidential elections and very soon the UK decision of staying or leaving the European Union will have an impact on the world and therefore the NZ economy.
Expect the Reserve Bank to move to increase the LVR for borrowers (especially for rental / developer purchasers) before the end of the year.
Meanwhile rejoice you home owners your mortgage rate is very low and your property values continue to rise.
Do you want to know the value of your property? Its probably worth more than you think. Contact me for a free no obligation value update.
Best wishes,
John Goodrum
Licensee Agent REAA 2008
021945140