The country's largest real estate agency recorded a mixed bag of results in August, with significant regional variations.
The number of sales made and the number of new listings recorded in Auckland were up in August compared to July, but remained well below the levels of August last year.
The average Auckland and Northland price fell $7,377, or 1.1%, to $657,859 in August versus July, but was still $52,907, or 9%, up on the August average last year. Harcourts doesn't supply median prices. In terms of sales volumes, Harcourts recorded 471 sales in Auckland and Northland during August, up 68 from July, but down 104, or 18%, from August 2013.
Harcourts' new listings for Auckland and Northland in August were up 72 from July at 651, but down 18, or 3%, from August 2013.
In Wellington the average price was up compared to July and 12% ahead of the average price in August last year, but the number of sales and new listings were both down by more than 17% compared to a year earlier.
In Christchurch the average price, number of sales and number new listings all slipped in August compared to July. but the average price was 14% up on August last year.
Harcourts chief executive Hayden Duncan said housing shortages were continuing to drive the markets in Auckland and Christchurch.
"Election year policies have not addressed the fundamental issue facing Auckland and Christchurch, which is the need to remove bureaucratic barriers that make developers shy away from widespread construction - high fees and building costs and a drawn out consents process," he said.
"The provinces remain hard hit by LVR restrictions and Harcourts hopes the Reserve Bank will look to remove these by the end of the year."
Harcourts Sales in August 2014 (see below):
| August 2014 | July 2014 | August 2013 | |
|---|---|---|---|
| Auckland and Northland: | |||
| Number of sales | 471 | 403 | 575 |
| Average price $ | 657,859 | 665,236 | 604,952 |
| Number of new listings | 651 | 579 | 669 |
| Central North Island: | |||
| Number of sales | 324 | 299 | 328 |
| Average price $ | 327,904 | 325,560 | 321,955 |
| Number of new listings | 423 | 352 | 373 |
| Wellington Region: | |||
| Number of sales | 233 | 280 | 282 |
| Average price $ | 387,718 | 362,171 | 346,576 |
| Number of new listings | 336 | 316 | 409 |
| Christchurch: | |||
| Number of sales | 330 | 411 | 427 |
| Average price $ | 488,734 | 491,688 | 428,005 |
| Number of new listings | 434 | 465 | 585 |
| Rest of South Island: | |||
| Number of sales | 168 | 205 | 254 |
| Average price $ | 298,746 | 322,724 | 312,190 |
| Number of new listings | 231 | 252 | 309 |
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