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By Jeremy O’Hanlon
Auckland is lagging behind the rest of the country in terms of the percentage of houses that changed hands over the past year, says Jeremy O’Hanlon, of Homes.co.nz.
Sales volumes slowed substantially across New Zealand in the last quarter, in the build-up to the October election. This was expected – we saw the same pattern over the last election period, as homeowners and investors waited to see if there would be significant changes to housing policy.
If the last election cycle is anything to go by, as we move into the new year, I expect these volumes will pick up again.
Turnover figures are an indication of the level of market activity in each area. Areas such as Hamilton (5.7 per cent) and Tauranga (6 per cent) have maintained higher-than-average turnover. However, Auckland has maintained its position with the lowest turnover of the main centres, at just 3.8 per cent.
The highs and lows of turnover percentages aren’t massively different, but they offer a subtle insight into how active each market is.
For more details about transactions, and to see for free the prices that homes have sold for nationwide, go to Homes.co.nz. In most areas, sales are updated weekly.