Regional Insights report: Auckland market cools most

During the March quarter average house prices outside of Auckland increased at an annualised pace of 37%. In the June quarter they have risen at a pace of 15%.

But in Auckland the rate of gain has slowed from 35% to just 2%.

Just before the lockdown, independent economist Tony Alexander with First Mortgage Trust pulled together a Regional Property Insights report looking at housing market indicators from the range of surveys. It shows the Auckland market has cooled the most after the Government’s March tax changes were announced.

Alexander says the Auckland turnaround could be because the stock of listings is better in Auckland than elsewhere.