Tag Archives | Migration

Net migrant inflow tops 71,900 for year

New Zealand’s net migrant inflow jumped again in March to a new record of 71,932 over 12 months.

That’s 6.4% (4300) ahead of the net inflow in the previous 12 months.

The net inflow in March has exceeded 4000 for the last 3 years, and this time round the number jumped by 600 – 14% – to 4878.

The number of migrants coming into Auckland jumped by 13% in March, from 4194 a year ago to 5267, and by 10% for the year, from 52,443 to 57,710.

The net inflow to Auckland is up 14.5% over 12 months, from 31,230 to 35,772.

That means 49.73% of the whole net inflow over the last year has made Auckland the destination.

Statistics NZ said migrant arrivals in the last 12 months, 129,518, were a record, while departures were up by 1100 over the previous year to 57,586 after 4 years of declines.

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Even in January, immigration leaps

The net migrant inflow leapt over the 71,000 mark for the January year. Long-term arrivals jumped by 1000 from last January to this one while exits rose by 300 for a net gain of 700 to 8446.

For the year, arrivals have risen by 5300 and exits have fallen by just 67.

The net amounts to a rise in immigration for the January year of just under 5400, to 71,305.

Arrivals from Australia were up by 29 and departures to Australia by 20, raising the inflow margin by 9 to 1264 for the year. 2 years ago it was a net outflow of 2888 and, in the previous 2 years, 17,064 & 37,936.

There is still a net outflow of NZ citizens, though not by much. For 6 of the 7 years to January 2013, NZ citizen exits for that month were in the range of 6-7000 and 2-3000 came home. The result over those 7 Januaries was an average outflow of 3800. Net exits for the month went under 1800 in January 2014, under 900 a year later, then to 474 and now to 385.

The annual net outflow has now fallen below the level for one month 3 years ago – 1729 versus 1781.

The latest annual NZ citizen outflow is 2500 below the level of the previous year and a quarter of the net outflow 2 years ago. Before that, the net outflow was measured in 5 digits – 19,687 in the January 2014 year, almost double that in each of the previous 2 years (37,922 & 37,602).

Of the 14,457 arrivals in January, 4400 said their destination was Auckland 1259 didn’t say where they were going.

Of the 128,290 arrivals in the January year, 56,231 (43.8%) said their destination was Auckland, up from 51,831 (42.2%) in the previous 12 months. The net annual inflow to Auckland rose by 3400 to 34,660 (30,369), or 48.6% of the net inflow, up from 48.05% in the 12 months to December.

The January figures set a number of records – the net inflow for the 12 months to December, 70,588, was the previous high. Migrant arrivals, at 128,290, were a record. The previous record, also set in December, was 127,305.

The net inflow from China took to place for the year again, passing India. For the 12 months to January, the net flow from China was 10,197 (9124 the previous year) and from India, 8560 (12,991 after student visa questions), followed by the UK 5981 (3680) & the Philippines 4580 (5127).

Statistics NZ said the 3,537,561 overseas visitors for the 12 months was a record, up 11.5% on the previous year, and the 2,635,331 NZ residents heading overseas was a record, up 8.9% on the previous year.

165,673 NZ citizens took off on overseas trips in January, up from 145,708 a year earlier, and 288,306 came back that month (262,570).

Attribution: Statistics NZ tables & release.

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Leading banker takes Australian politicians to task on governance, finance, infrastructure, urban prospects

Australian politicians’ ears must have been burning when bank chief Ken Henry addressed the country’s Committee for Economic Development in Canberra on Thursday, because he wasted no words in portraying the destruction – instead of construction – of a sound future they continued to guarantee.

The Unconventional economist on MacroBusiness, Leith van Onselen, wrote: “Dr Henry pulled no punches in admonishing the Government’s negligence in managing Australia’s mass immigration programme.”

Mr van Onselen also raised questions arising from Australian Productivity Commission reports, including An ageing Australia: Preparing for the future.

But migration & age were just 2 of the questions raised by Dr Henry, who chairs the National Australia Bank. He talked about the notion that endless growth was a practical proposition for Sydney & Melbourne, how every proposal for major infrastructure was drowned in political wrangling and – in the sector he knows best – how every tax reform proposal of the last decade had failed.

Below are some excerpts from his speech:

Business at odds with community

“According to our research, Australian businesses see our strong rate of population growth as a positive. …. In the broader community, there is considerably less support for a larger population. People are concerned about the impact of a growing population on traffic congestion, urban amenity, environmental sustainability & housing affordability. And they worry about our ability to sustain Australian norms of social & economic inclusion. These concerns are understandable.

“Australia’s business leaders have to accept responsibility for ensuring that strong population growth, and the investment opportunities that go with it, lift economic & social opportunity for all, without damaging the quality of the environment we pass to future generations. That means that we have to take an interest in traffic congestion, housing affordability, urban amenity & environmental amenity, including climate change mitigation & adaptation….

“If we want better access to skilled domestic workers, then we are going to have to offer those workers the prospect of better lives. If we want modern & efficient infrastructure, then we are going to have to take an interest in the design of our cities; we are going to have to take an interest in regional development; and we are going to have to take an interest in the planning of new urban centres.

“If we want less red tape & less regulation, then we are going to have to demonstrate that regulation is not necessary….

“Meanwhile, our politicians have dug themselves into deep trenches from which they fire insults designed merely to cause political embarrassment. Populism supplies the munitions. And the whole spectacle is broadcast live via multimedia, 24/7. The country that Australians want cannot even be imagined from these trenches….

“Almost every major infrastructure project announced in every Australian jurisdiction in the past 10 years has been the subject of political wrangling. In the most recent federal election campaign, no project anywhere in the nation – not one – had the shared support of the Coalition, Labor & the Greens.

“Every government proposal of the last 10 years to reform the tax system has failed.

“And the long-term fiscal, economic growth & environmental challenges identified in 4 intergenerational reports over the past 15 years?  The opportunities identified in the White paper on Australia in the Asian century? Simply ignored.

“The reform narrative of an earlier period has been buried by the language of fear & anger. It doesn’t seek to explain; rather, it seeks to confuse & frighten.

“Meanwhile, the platform burns.”

Growing Sydney & Melbourne

Dr Henry also spoke about the Australian budget & tax system, a strongly growing but aging population, climate change & energy security, and making the most of the Asian century.

“How will we fund the biggest infrastructure build in our history? And what about infrastructure planning?” he asked, before questioning the sense in adding 7 million people to the populations of Sydney & Melbourne:

“On the basis of official projections of Australia’s population growth, our governments could be calling tenders for the design of a brand new city for 2 million people every 5 years; or a brand new city the size of Sydney or Melbourne every decade; or a brand new city the size of Newcastle or Canberra every year. Every year.

“But that’s not what they are doing. Instead, they have decided that another 3 million people will be tacked onto Sydney and another 4 million onto Melbourne over the next 40 years.

“Already, both cities stand out in global assessments of housing affordability & traffic congestion.

“And even if we do manage to stuff an additional 7 million people into those cities, what are we going to do with the other 9 million who will be added to the Australian population in that same period of time? Have you ever heard a political leader addressing that question? Do you think anybody has a clue?

“At the very least, we are going to have to find radical new approaches for infrastructure planning, funding & construction. And that includes energy infrastructure, critical to our economic performance and our quality of life.

“The biggest challenge confronting the energy sector is that climate change policy in Australia is a shambles. At least 14 years ago, our political leaders were told that there was an urgent need to address the crisis in business confidence, in the energy & energy-intensive manufacturing sectors, due to the absence of credible long-term policies to address carbon abatement. It is quite extraordinary, but nevertheless true, that things are very much worse today.”

  • Dr Henry was Secretary of Australia’s Treasury Department from 2001-11, and was appointed a director of the National Australia Bank in November 2011 and chair in December 2015. From June 2011-November 2012, he was special advisor to the prime minister with responsibility for leading the development of the white paper on Australia in the Asian century. He’s a former member of the board of the Reserve Bank of Australia, the Board of Taxation, the Council of Financial Regulators, the Council of Infrastructure Australia and chaired both the Howard government’s tax taskforce in 1997-98 and the Rudd government’s review of the tax system in 2008-09, and he’s governor of the organisation he was addressing above, CEDA.

Links:
23 February 2017: NAB chair Ken Henry’s full speech at CEDA
Unconventional economist on MacroBusiness, 24 February 2017: Australia can’t build its way out of population ponzi
Unconventional economist, 24 February 2017: Bigger cities are engines for inequality
Australian Productivity Commission, November 2013: An ageing Australia: Preparing for the future
Committee for Economic Development of Australia

Attribution: NAB, CEDA, MacroBusiness.

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Economist sees scope for house price fall – my picture more complicated

Infometrics chief forecaster Gareth Kiernan said yesterday the economic consultancy saw “scope for a 12% drop in property values by the end of 2020”.

That turned into this heading: House prices to fall 12% by 2020.

A 12% price fall in 3 years – or a multitude of trend changes? I interpolate:

Some have fallen that much this year while others have been taken off the market because the windfall window has passed. How & what you measure makes a big difference.

When the America’s Cup was first touted as coming to Auckland in the 1980s, my house’s value – along with every other house in the neighbourhood – rose overnight by a million dollars. But few houses actually went on the market to catch this windfall, a handful of homes sold at escalated prices, the cup event didn’t come and the market shot back to where it had been. Did homes drop in value? They didn’t in reality rise.

Auckland was unusual in the wake of the global financial crisis of 2008 – on Quotable Value’s figures, a drop from double-digit price growth in 2007 to a decline of about 7% both nationally & in Auckland in 2008, followed by a 3% turnaround nationally in 2009 – and a rise of 7.3% for the year in Auckland.

By late 2011 – the year housing consents bottomed – Auckland’s house price index was above the level of the previous peak in late 2007, but on low turnover.

Through to late 2016, both prices & turnover rose. Turnover is now down, and you can see vendors facing hard decisions at auction. Yet, at auction this week, some apartments sold at high price levels – above $10,000/m² for secondary stock that’s now “old”. That can be attributed partly to the rising cost of construction for new developments.

The unitary plan has put another factor into the pricing equation, the ability to intensify sections that previously might have been able to take only 2 townhouses. This potential can raise the apparent value of standalone houses throughout suburbia, though it’s actually a change in land values.

Mr Kiernan raises mortgage rates as a factor below, suggesting a rise could keep some buyers out of the market. Higher interest rates or increased supply over the last 15 years, or both, would have suppressed prices. Supply is starting to increase but, while net immigration keeps rising, that supply will still fall short. That could encourage price rises while, at the same time, ordinary local buyers will tot up capital & mortgage costs which will show prices for them must come down.

Over the last 4 years, New Zealand turned – swiftly – from a net outflow of 39,000 migrants/year to Australia to a zero outflow, and a little more slowly to a net inflow of almost that number (33,900 in 2016) just into Auckland.

Those migration tides can reverse again just as quickly but, as I’ve suggested below, other factors come into play and one of those is amenity for new developments.

Kiernan: several risks hanging over economy

Mr Kiernan said the solid outlook for growth – a prediction of 3%-plus gdp growth over the 3 years to June 2019 – masked several risks hanging over the economy: “Mortgage holders in Auckland look particularly vulnerable to even modest interest rate rises that are likely to occur in the next 2-3 years. Debt-servicing costs in the city now take up a greater proportion of income than in 2007, when mortgage rates reached 8.7%. A future rise of 1.5-2 percentage points in mortgage rates would clearly stretch many borrowers in Auckland and squeeze potential buyers out of the market.”

Infometrics predicts that wholesale interest rates will gradually rise further in the next few months and that the Reserve Bank will start increasing the official cashrate by mid-2018.

“Net migration & population growth will be easing at the same time as interest rates start to rise, and this cocktail could be the catalyst for a housing market correction. Apart from the stresses on the market in Auckland, underlying demand conditions in some other regions do not justify current high prices, and we see scope for a 12% drop in property values by the end of 2020.”

Looking at the wider economy, Mr Kiernan turned first to employment: “Despite the unemployment rate edging up to 5.2% in data released this week, the labour market has been tightening across the board. The capacity constraints that have previously been most intense in the construction & tourism sectors are becoming more widespread.

“Infometrics expects to see increased wage pressures as firms battle harder to attract & retain staff, with the unemployment rate dropping back below 5.0% in 2017 and continuing to decline over the next 2 years.”

Next up, international politics: “Heightened political uncertainty also has the potential to derail New Zealand’s growth train. At this stage, the main threat to New Zealand from US President Trump’s policy agenda appears to be potential trade barriers against China.

“Mr Trump has talked about 45% tariffs on Chinese imports, which would reduce American demand for Chinese products, dampening economic growth in our largest export market and undermining New Zealand’s export incomes.

“President Trump’s proposal is a significant threat to Chinese & global economic growth, and New Zealand would not be able to dodge the flow-on effects over the following couple of years if trade barriers between China & the US were implemented.

“Closer to home, a change of government or a shift in the balance of power after New Zealand goes to the polls on 23 September could also affect our medium-term economic outlook.”

Migration factors

Bald assertions can take some filling in to make sense. For migration & population growth, the biggest factor is the Australian economy.

In the June 2015 year, Australia’s net migrant inflow was 168,000, down nearly 10% from the previous year, and 40% went to New South Wales. The country’s population rose by 338,000 (1.4%) to 24.1 million in the year to June 2016. Incredibly, those seem to be the latest figures from the Australian Bureau of Statistics.

The New South Wales economy seems to be in better shape than other states’, which may lead to a resumption of higher emigration from New Zealand in the next couple of years. A resumption of growth in Western Australia’s mining sector looks further away than that.

The Auckland construction market looks overheated and, combined with the unusually high level of infrastructure underway, will drain labour from other parts of the country and require imported labour.

One factor in New Zealand’s migration statistics that’s played down is the proportion of migrants from India, many on student visas and therefore seen as not really permanent migrants. I regard that pool of migrants differently, as a revolving supply because many return home, but still showing a net increase of over 10,000/year, at a similar level to the net inflow from China.

Statistics NZ projections

Statistics NZ’s latest regional projections show Auckland’s population growing at just over 1%/year on the low projection through to 2043, and at nearly 2% on the high projection.

One question there is whether the supply of and for housing will increase enough to dampen the increase in its price. The high growth projection for Auckland over the 5 years to 2023 would see the population up by 200,000 to 1.94 million – by an average 40,000/year, which would require an extra 14,800 homes/year to satisfy demand.

Changing trends will complicate values

The trend in new housing is toward less standalone housing and more intensive development, notably lowrise townhouses & suburban units along with retirement village units rather than a high concentration of apartments. Land values based on higher potential may change that lowrise preference.

A combination of the unitary plan allowing more building height, particularly in both suburban & regional centres, and council organisation Panuku Development Auckland’s regeneration programme for as many as 20 centres around the region could see an increase in apartment living as commercial & retail centre amenity improves.

That would shift the pricing focus away from houses in the most expensive suburbs and to different kinds of home. The expensive suburbs are likely to retain their high pricing levels because of limited supply – one reason they’re expensive even on bad days – but housing elsewhere should graduate to new ranges.

To achieve those changes, more amenities will be needed in suburban centres. As a city apartment dweller told me yesterday, Auckland fares poorly in the provision of amenities for apartment occupants compared to many cities in other countries, such as Vancouver & Sydney.

Some developments provide a pool or a gym, many don’t. Rather than an increase in inhouse amenities, and against council budgets which are very unlikely to allow for an expansion of communally owned amenities, the growth of apartment living in suburban centres could be matched by the separate private-sector provision of amenities.

That in itself would produce 2 value changes – one to reduce the value of apartments by eliminating costly inhouse amenities, the other to increase their value for proximity to externally available amenities.

Attribution: Infometrics release, my own economic date, Statistics NZ, Australian Bureau of Statistics.

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Net migrant inflow creeps up again

The net migration inflow for the year crept up again in December (on a rolling annual basis), staying just above 70,000 for the third successive month at a new record of 70,588.

That was up 334 on the year to November and 8.7% ahead of 64,930 in the 12 months to December 2015.

After rising in large jumps both for December & annually after 2 years of net outflows in 2011-12, the monthly inflow has slowed to 4999. Over the previous 3 years the December net inflows were 2408, 3494 & 4765.

Long-term immigrant numbers for December rose from 10,039 last year to 10,687, while emigrant numbers rose from 5274 to 5688.

Arrivals from Australia slipped from 3035 to 2909 for the month, but stayed 510 ahead for the year at 25,783. Departures to Australia were up for the month at 2608 (2467), but the annual figure fell slightly to 24,220 (24,504). The net flow from Australia remained slightly positive at 301 (568) for the month and 1563 (769) for the year.

Other net annual figures included 10,310 (8877) from China, a large fall from India to 8899 (13,292), and rises from France to 3326 (2966), Germany 3365 (2924), the UK 5588 (3614) & South Africa 4297 (2196).

The net flow of Kiwis for the month was inward at 1202 (inward 4280, outward 3078), but outward for the year at 1818 (inward 31,671, outward 33,489).

The net inflow of non-citizens continued to rise, reaching 72,406 (69,655 last year – and it was down at 31,341 in 2010).

The net inflow into Auckland continued to rise – by 380 for the month to 2152, and by 3937 for the year to 33,916. The net inflow into Auckland remained at 48% of the total net inflow into the country for the year, 70,588.

Total migrant arrivals hit a new record of 127,305 (121,937) for the year, lifted by an increase of 3817 on work visas to 41,576 (37,759), while holders of student visas fell by 3306 to 24,562 (27,868).

Attribution: Statistics NZ tables & release.

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Migrant inflow just short of 70,000

Net immigration reached a record 69,954 in the September year, up 8700 from the previous year and 24,500 more than 2 years ago, and a high proportion of the influx settles in Auckland.

From arrivals in the region of 53,844, up 3800 on last year and 10,000 on the previous year, Auckland’s net inflow has risen from 21,013 in the September 2014 year to 28,395 last year to 32,768 in the last 12 months.

In each of those years, the departure rate has shrunk slightly, from just over 22,700 2 years ago to 21,076 in the latest period.

The same story can be applied nationally: exits have shrunk as more Kiwis have returned from Australia, and the exit rate of new immigrants has also shrunk, most likely also helped by the downturn in the Australian economy.

A turnaround across the Tasman will see those figures reversed, and it could happen quickly, but there’s no sign that such an upturn for Australia will happen anytime soon.

Statistics NZ categorised 94% of the 125,642 arrivals in the last year when it released its monthly statistics last Friday: 32% on work visas (including working holidaymakers), 29% NZ & Australian citizens (with rights to enter), 20% on student visas, 13% on residence visas.

The NZ-Australian component has been rising by about 2000/year, reaching 37,044 in the latest 12 months. The number entering on work visas has risen faster, by 4-5000/year, reaching 40,184 in the latest 12 months. The other big category, those on student visas, rose by 5600 2 years ago but slipped slightly in the latest 12 months to 25,597.

India has been the greatest source of migrants on student visas (7538, down from 10,708 the previous year), followed by China (5756, up from 5215 the previous year).

Also feeding into provinces

All of that is about growth, mostly in Auckland but also feeding into many provinces around the country. Net migration into the Waikato doubled from 2 years ago to 2618 in the latest 12 months, and the figure into the Bay of Plenty rose from 782 2 years ago to 2597. Into Wellington, the figures were 1066 2 years ago to 3430 in the latest 12 months. The net inflow into Canterbury has stabilised – 5591 2 years ago to 6800 to 6847.

A contributor to the rise in net immigration is the decline in exits – 55,688 in the last 12 months, down 2000 from the previous year, down 31,000 from the departure rate in 2012. Along with the rapidly escalating arrivals figures – up by 42,000 on the arrivals in 2012, up by 6800 on the number arriving last year – the decline in exits has helped boost migration from a net outflow of 3280 in 2012, to 15,174 in 2013, 45,414 in 2014, 61,234 in 2015 and now 69,954.

Attribution: Statistics NZ tables & release.

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Statistics NZ warns of immigration peak, but actual & Auckland figures suggest otherwise

The net inflow of migrants dropped 75 short in July of the record figure for the June year – 69,090, falling to 69,015.

Statistics NZ saw a downward trend, which may be true through Statistics NZ’s seasonal adjustments, but is not evident on actual numbers.

The net inflow in July, 6450, was well up on June (3672) but down 75 on the number a year ago (6525). For the July year, the net inflow declined by that 75, from 69,090 to 69,015, based on 124,995 arrivals & 55,980 departures.

One of the keys to New Zealand’s migration statistics is the trans-Tasman flow, which moved strongly against emigration in the last 4 years as the Australian economy stumbled and Kiwis were denied unemployment benefits there.

From nearly 54,000 departures to Australia in the August 2012 year, and a net outflow to Australia of just under 40,000, the outflow for the August 2016 year was 23,843 but the number migrating to New Zealand was 25,593, for a net inflow of 1750. That’s down from a net inflow of 1933 for the June year.

Under the heading, Declining trend in monthly net gain of migrants, Statistics NZ said on Friday: “Seasonally adjusted figures showed a net gain of 5600 migrants in July 2016. Since reaching a peak of 6200 in November 2015, the seasonally adjusted net gain in migrants has averaged 5700/month. While the monthly net gain of migrants is still positive and remains high relative to historic levels, recent net gains show a declining trend. This relates to the declining trend in migrant arrivals and an increasing trend in migrant departures.”

The pictures a year ago & in the last 2 months have been quite different rather than trending. Total arrivals in July were down by 60 from a year earlier while total departures rose by 15, for a net inflow 75 lower. However, the net inflow in June, 3672, was 2778 short of the July net inflow – 8206 arrivals rising to 11,656 in July, 4534 exits rising to 5206 in July.

For the July year (and June in brackets), arrivals were 124,995 (125,055), exits 55,980 (55,965).

Arrivals in Auckland rose by 279 for the month to 5069, and by nearly 4200 for the year to 53,213. The net inflow for the region was 3023 for the month (2850 in July last year, 1726 this June), 31,951 for the year (27,395 the previous year, 31,788 for the latest June year).

Attribution: Statistics NZ tables & release.

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Net migrant inflow tops 69,000/year, Auckland up 5000

New Zealand’s net migration inflow climbed 22% in June from a year ago to 3672 (3014 last June), taking the rolling annual figure to a net 69,090 (58,251).

The flow across the Tasman in June was a net inward 61 (outward 133), and 1983 for the year, compared a net outflow of 1185 a year ago.

The net inflow into Auckland rose by 155 for the month to 1726 (1571), and by nearly 5000 for the year to 31,788 (26,834 the previous year, 17,779 in 2014).

June figures for the last 3 years show how the migration flows are affecting Auckland. In June 2014, the inflow was 3141, outflow 1839; in 2015, inflow 3363, outflow 1792; in 2016, inflow 3423, outflow 1697.

Over the 3 years to June, the inflows have been 41,308, rising to 48,488 and then to 52,934. The outflows have been 23,529, then 21,654, then another fall to 21,156.

Permanent & long-term migrant arrivals totalled 8206 in June (7979 a year earlier), while the exit number fell to 4534 (4965). For the June year, arrivals were 125,055 (115,655), exits 55,965 (57,396).

Australia continues to grow as a source of migrants – 1682 in June (1669), 25,703 for the year (24,061) – and a declining target for exiting migrants – 1621 in June (1802), 23,770 for the year (25,246).

The net results are that, for the month, an outflow of 133 has turned round to an inflow of 61, and for the year an outflow of 1185 has turned round to an inflow of 1933.

NZ & Australian citizens made up 29% of long-term arrivals (36,428 out of 125,055), up from 34,871 for the previous year. Holders of student visas accounted for 18,120 arrivals 2 years ago, 25,785 last year and 27,518 in the latest 12 months.

Attribution: Statistics NZ tables.

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Propbd on Q Th21July16 – Net 69,000 migrant inflow, auctions – Ray White, Barfoots, Bayleys

Migrant inflow tops 69,000/year, Auckland up 5000
5 apartments sell at Ray White
3 units sell at Barfoots
12 intensives sell at Barfoots on Wednesday

Apartment, office/warehouse & showhome all sell

I’m feeling slightly unwell but have a lot of material to write up, so initially you can check out the short version of auction prices and a few other bits & pieces here, and I’ll try to fill in detail later.

Migrant inflow tops 69,000/year, Auckland up 5000

New Zealand’s net migration inflow climbed 22% in June from a year ago to 3672 (3014 last June), taking the rolling annual figure to a net 69,090 (58,251).

The flow across the Tasman in June was a net inward 61 (outward 133), and 1983 for the year, compared a net outflow of 1185 a year ago.

The net inflow into Auckland rose by 155 for the month to 1726 (1571), and by nearly 5000 for the year to 31,788 (26,834).

5 apartments sell at Ray White

5 of the 8 apartments auctioned at Ray White City Apartments today were sold under the hammer, starting with one in the Volt where a pre-auction offer had been acceptable. Auction results:

Volt, 430 Queen St, unit 904, sold for $423,000, agents Damian Piggin & Daniel Horrobin
Nova en Scotia, 18 Scotia Place, unit 1C, passed in at $455,000, Mitch Agnew & Ryan Bridgman
Cambridge, 43 Anzac Avenue, unit 300, sold for $366,000, Damian Piggin & Daniel Horrobin
Century on Anzac, 100 Anzac Avenue, unit 4F, sold for $240,000, Krister Samuel
Altitude, 34 Kingston St, unit 6B, sold for $360,000, Krister Samuel & Ryan Bridgman
CityLife, 171 Queen St, unit 1207, no bid, Mitch Agnew & Ryan Bridgman
Ascent, 19 Nelson St, unit 516, sold for $421,000, May Ma & Mark Li
The Quays, 99 Customs St West, unit 1P, no bid, Damian Piggin & Daniel Horrobin

3 units sell at Barfoots

3 properties sold at Barfoot & Thompson’s apartments auction this morning, and then the remaining 5 were passed in, 4 without a bid being offered. Auction results:

Quay West, 8 Albert St, unit 907, sold for $890,000, Belinda Illingworth & Johnson Chen
Mt Eden, 619 Dominion Rd, unit 4, cross-lease, sold for $730,000, Aaron Cook & Betty Shao
Pullman Residences, 6 Princes St, unit 9A, sold for $782,000, Sarah Garlick & Estee Zeng
Freemans Bay, 59 Hepburn St, unit 10, passed in at $725,000, Mike Campbell
Queens Residences, 8 Airedale St, unit 309, no bid, Rico Zhao
Volt, 430 Queen St, unit 1115, no bid, Stephen Shin & Yasu Ka
Queens Residences, 8 Airedale St, unit 1808, no bid, Rico Zhao
Celestion Waldorf, 19 Anzac Avenue, unit 1604, no bid, Jason Buckwell

12 intensives sell at Barfoots on Wednesday

Barfoot & Thompson sold 8 units & cross-leased homes at its Wednesday auctions, and another 4 where pre-auction bids were acceptable. Auction results:

Royal Oak, 15 Turama Rd, unit 1, sold for $907,000, Anna Stephens-Brown
Meadowbank, 97 Gowing Drive, unit 4, sold for $622,000, Caroline Holden
Meadowbank, 157 St Johns Rd, unit 2, passed in at $850,000, Faye Torrance
Winsun Heights, 113 Vincent St, unit 11J, sold for $265,000, Livia Li & Alan Guo
Mt Eden, 7 Ellerton Rd, unit 1, cross-lease, sold for $931,000, Vern Hines & Sara Knight
Kelston, 6 Daphne St, cross-lease, sold for $671,000, Clara Wu & Shirley Zhong
New Lynn, 6 Islington Avenue, unit 3, sold for $832,000, Kelly Zhang
Onehunga, 1 Namata Rd, cross-lease, sold for $911,000, George Fong & Laura McAuley
Ellerslie, 145 Ladies Mile, house converted into 4 one-bedroom flats, passed in
Mt Roskill, 11 Parfitt St, cross-lease, no bid, Alex Yang & Holly He
Te Atatu South, 9 Marewa St, unit 1, cross-lease, no bid, Josh Aarons & Clara Wu
Remuera, 66B Orakei Rd, cross-lease, passed in, Duncan Wu
Three Kings, 852 Mt Eden Rd, unit 27, sold for $730,000, Amin Lu

Sold at auction after pre-auction offers acceptable:

Henderson, 35 Swanson Rd, unit 2, sold for $675,000, Kathy Martick
Mangere Bridge, 3A Kowhai Avenue, cross-lease, sold for $990,000, Mitch Owens
Pakuranga, 205D Pakuranga Rd, sold for $1.2 million, Eugene Yamamoto
Massey, 12 Aldern Rd, unit 3, cross-lease, sold for $616,000, Jesse Lawson

Apartment, office/warehouse & showhome all sell

A city apartment, an office & warehouse unit in the Interplex business park on the North Shore and a 4-year-old showhome at Hobsonville Point were sold at Bayleys’ auction yesterday. Auction results:

The Guardian, 105 Queen St, unit 202, sold for $530,000, David Anderson & Diane Jackson
Interplex business park, Rosedale, 14-22 Triton Drive, unit E2, office & warehouse sold for $480,000 + gst
Hobsonville Point, 15 Station St, Jalcon’s 2012 showhome, sold for $1.26 million, Terry & Janet Jones

Attribution: Statistics NZ tables, auctions.

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Migrant inflow up slightly

The net inflow of migrants rose slightly in May to 68,432 for the year, up by 322 on the 12 months to April.

The net inflow in May was 3038 – 7762 arrivals, 4724 departures. For the year, arrivals rose by about 8700 to 124,828, while exits continued to decline, falling to 56,396.

There was a net inflow of 35 from Australia for the month, 1739 for the year. Main net inflows for the year were from India (12,274) & China (9667).

The inflow to Auckland was 3228 for the month (3224 a year ago), 52,874 for the year (48,266), and the net inflows to the region were 1493 for the month(1452), 31,623 for the year (26,565).

Attribution: Statistics NZ tables.

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