Let’s dive into the fascinating world of house prices and explore whether we might be witnessing a flattening in the market. There’s more to the story than meets the eye, and I’m eager to share some little nuggets of truth that could change the game this time around. Buckle up as we take a deep dive into the Real Estate Institute of New Zealand (REINZ) stats and unravel the clues hidden in the month-on-month changes. Plus, I’ve got a hunch about the impact of townhouses that might surprise you!
The REINZ Stats: A Familiar Story?
We all know the housing market has been on decline year on year, but let’s not stop there. Instead, let’s focus on the month-on-month June compared to May to see if there’s more to the tale. June’s numbers show Auckland leading the pack, a bit ahead of the curve compared to the national scene. .8% + instead of the 0%, There’s a slither of optimism for sellers, but things seem relatively flat overall. The previous month tells a similar story – a touch of flatness in the air.
A Deeper Dive into Auckland:
Auckland’s a curious beast with different neighborhoods telling diverse tales. While some areas like Auckland Central, Manukau City and Papakura to be up. It’s a two-track market, and it’s got me pondering what’s really going on beneath the surface.
The Little Nugget of Truth:
Alright, here’s where it gets interesting. After two decades in the industry, I’ve never seen so many townhouses popping up like mushrooms after rain! Well, it’s got me thinking – as more affordable options hit the market, the stats might get a bit twisted. Smaller land sizes, lower average prices – they all play a role in how the market appears on paper.
The Two-Track Market Effect:
Picture this – some properties, like the ones with a bit of a lawn, might still be getting a lot of attention. But those snazzy townhouses? They might not bounce back as quickly after a downturn. It’s like watching two parallel markets with their own sets of rules.
So there you have it – the housing market’s a complex puzzle with more layers than meets the eye. Looking beyond the surface, we uncover hints of a flattening market, while Auckland’s different regions create a two-track scenario. Add townhouses into the mix, and things get even more intriguing! But hey, keep your eyes peeled, ’cause this journey’s far from over.