North Shore & Milford Market Update For December 2021

Market has solid finish to a strong year

The property market closed out 2021 with strong sales volumes & prices.  The North Shore median sales price of $1,443,000 was nearly 17% ahead of December 2020.  Volumes, whilst remaining above long-term averages, were down when compared to the prior month and prior year with 424 North Shore sales in December.

Whilst house price growth is expected to continue, the rate of growth is anticipated to cool to a steadier and more sustainable pace.  The impact of rising interest rates, tighter lending criteria, changes to investor taxation restrictions and more choice for buyers are starting to shift dynamics.

2022 has started strong with steady sales volumes and fierce competition at our first auctions of the year.

Market update for North Shore & Milford market based on REINZ market statistics for December 2021, released 18th January 2022.