Panmure house prices are sky-rocketing!

Panmure bucks the trend in Auckland house prices, increasing by a whopping 20% in 2012!

22 March 2012

The latest Crockers Auckland sales price table revealed that despite the large year-on-year increase in both nationwide and Auckland sales, prices are up just 1%. Nationwide property sales rose 37% and Auckland sales 30% on the year earlier last month, but price growth remained static. From February 2011 to February 2012 the nationwide median average price rose from $350,000 to $355,000 and the Auckland average increased from $465,000 to $468,000.

However, greater fluctuations are revealed in both sales numbers and average prices within the Auckland region. Manurewa recorded the strongest year-on-year average price growth, but double-digit rises were also recorded in Eastern Suburbs (22%), and Ellerslie/Panmure (19%).

As expected, these price rises far outstrip the national average across the majority of Auckland suburbs, though five locations did record falls; Henderson (down 6%), Upper Harbour (5%) and Devonport, Hibiscus Coast and Rodney North (2%). Only two Auckland suburbs recorded a year-on-year fall in sales during February, Birkenhead and Devonport, down 11% and 32% respectively.