Auckland house prices fluctuating wildly, but spring could bring bounce back..
Auckland’s property market is shaping as a puzzle for buyers and sellers ahead of an expected pick up in spring sales.
Take West Auckland where new data showed Waimauku rose to be the city’s best-performing suburb in the past year, while just next door Kumeu was the worst-performing.
Waimauku’s median sales price jumped $160,000 or 14 per cent over the past year to $1.28 million, while Kumeu prices fell $355,00 or almost one-quarter to $1.14m
The strange results come on the back of a quiet winter – yet signs were also emerging of a brighter spring.
Anticipating Spring – REINZ
TOP 10 AUCKLAND SUBURBS
- Waimauku – Home values grew 14% from $1.12 million one year ago to $1.28m currently
- Karaka – Up 7% from $1.12m to $1.19m
- Auckland Central – Up 6% from $440,000 to $460,000
- Warkworth – Up 6% from $805,000 to $850,000
- Matakana – Up 4% from $1.16m to $1.21m
- Schnapper Rock – Up 4% from $1.36m to $1.42m
- Ōtara – Up 4% from $545,000 to $565,000
- Waterview – Up 3% from $895,000 to $925,000
- East Tamaki Heights – Up 3% from $1.23m to $1.19m
- Wellsford – Up 3% from $560,000 to $575,000
BOTTOM 10 AUCKLAND SUBURBS
- Kumeu – Home values fell 24% from $1.5m one year ago to $1.14m currently
- Bombay – Down 17% from $1.34m to $1.12m
- Westmere – Down 13% from $1.9m to $1.66m
- Albany – Down 12% from $1.16m to $1.02m
- Long Bay – Down 11% from $1.59m to $1.42m
- Farm Cove – Down 10% from $1.34m to $1.21m
- Newmarket – Down 10% from $745,000 to $670,000
- West Harbour – Down 10% from $1.05m to $940,000
- Kingsland – Down 9% from $1.3m to $1.18m
- Castor Bay – Down 8% from $1.57m to $1.44m
Lower price range areas are responding the Spring splash… especially the out of City Center fringe suburbs such as West Auckland along with Walkworth and Wellsford Northern areas, in time for the Spring also a jump within Auckland City, this does not include commercial where we are still seeing a lot of vacant buildings soon with small businesses closing down.The fact is we all feel the interest rates are dropping and a review is needed for all investment industries in commercial before they all out for sale soon.
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