The Auckland Residential Property Value has seen an increase of 8% since February 2021 to February 2022, though this is the lowest percentage increase seen since June 2020. While sales activity is down

Multiple pressures contribute to this increase, including the opening of the border to the greater challenges of the emergence of Omicron in our communities. As Jen Baird, Chief Executive at Reinz stated: “while prices remain strong – the number of sales continue to trend downward- the number of sales continue to trend downwards and an influx of stock across New Zealand is easing demand side pressure, which may in turn further ease price growth in the coming months”

The Median House price in Auckland is $885,000 with an -o.4% decrease on the price index in January 2022. The turning point of New Zealand housing market sees higher mortgage rates and reduced credit availability.

(Information and data gathered from REINZ)