Million dollar home sales in Auckland dipped by 1.9% in the first half of 2018 compared to the first 6 months of 2017, but jumped by 28% around the rest of the country.
As Auckland dominates the national trade in expensive homes, the net result for the country was a 4.2% increase.
The Real Estate Institute released the figures yesterday in its million dollar price report, which counts sales in 3 price brackets – over $1 million, over $3 million & over $5 million. The institute said the 5438 $1 million-plus sales over 6 months was still well below the record, 5867 in the second half of 2016.
Institute chief executive Bindi Norwell said it was “great to see confidence at the top end of the market. These figures, particularly outside of Auckland, highlight some of the buoyancy we’re seeing around the country.
“As land prices continue to hold up around the country and Aucklanders continue to take their search to the regions for a more relaxed & affordable lifestyle, it’s likely we may continue to see the number of million dollar-plus properties continuing to increase in the future.”
Million dollar-plus residential properties sold in NZ, first half of 2018 (first half 2017 in brackets) & percentage change:
Auckland: 4075 (4154), -1.9%
NZ ex-Auckland: 1363 (1066), 27.9%
NZ: 5438 (5220), 4.2%
Auckland: 194 (212)
NZ ex-Auckland: 29 (25)
NZ: 223 (237)
Auckland: 41 (50)
NZ ex-Auckland: 5 (5)
NZ: 46 (55)
Attribution: Institute release.