House prices remain strong in Auckland as 2022 gets underway. Median sale price data for NZ’s most populous region shows an increase of 20.6% year-on-year to $1,200,000 – up from $995,000.

January often sees sales activity slow, Auckland saw the number of properties sold decrease 32.2% annually — from 1,951 in January 2021 to 1,323 in January 2022.

A closer look at the North Shore and North West echos the above. The lack of available stock contributing to strong house price growth and competition in our auction rooms – resulting in a 70% clearance rate for January.

Across our Cooper & Co offices, listing boards show strong activity with many new properties launching – or having already launched in February. The increased availability should see more choice for buyers, perhaps increasing sales volume but having the opposite affect on price growth as we settle into a steadier market.