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(Based on data from REINZ)

Auckland housing market changing?

By Hamish Patel 04/07/2011

Is the housing market turning into more of a sellers market than buyers? In Auckland at least some of the activity in the past few months would point to a change in sentiment. Currently with the interest rates low and bank criteria opening up, younger families are finding it easier to get into their first home. And we have noticed the welcome change in our own business with number of settlements heading up.

Looking at the median price alone you could start to wonder if prices are creeping up again. The feedback we are getting from clients this year does reflect a market where houses in better areas are moving quickly.

We also note loosing of bank criteria across the low deposit space and the maturity of the Kiwi Saver home withdrawal scheme, creating more home buyers in the medium price range.

(Based on data from REINZ)

The number  of days it takes for an Agent to sell in Auckland, has remained pretty stable in the past year. But it is around a week less than what followed the Great Financial Crisis.

Overall it might be a good time to buy and possibly getting a better time to sell.