SOLD! For over a mill

$1.8m sale tops record level of million-dollar houses.

$1.8m sale tops record level of million-dollar houses.

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Buyers seem to be more willing to shell out a million dollars for a house in Gisborne than in Auckland, with new data showing a rise in the number of “million-dollar houses” here.

Data from the Real Estate Institute reveals the number of houses sold for $1m or more hit record levels last year, with six Gisborne properties reaching or surpassing the $1m mark.

The most paid for a house in Gisborne last year was $1.8m, for a property on Wairere Road in Wainui.

Nationally, the number of properties sold around the country for a million dollars or more during 2018 increased by 4.5 percent when compared to 2017 (10,615 up from 10,163).

However, this figure is down significantly on 2016, when 11,648 million-dollar plus properties were sold around the country, according to the Real Estate Institute of New Zealand’s (REINZ) Million Dollar Price Report.

“Volumes of million-dollar plus sales were up year-on-year by 4.5 percent across the country.

This figure has been pulled down by the ‘Auckland impact’,” REINZ chief executive Bindi Norwell said.

“If you remove Auckland from the picture, then the number of million-dollar plus properties actually significantly increased 26.9 percent, which has been largely driven by the regional growth the country has been experiencing.

“The region with the largest year-on-year increase was Marlborough, which saw an increase of 90.9 percent — from 11 properties sold for $1 million or more in 2017 to 21 properties sold for $1 million or more in 2018. However, these numbers are inflated due to the small sample size.

“All regions except Auckland and Southland reached record numbers of properties sold for $1 million or more in 2018.”

Regions with the strongest increases in the number of million-dollar plus sales year-on-year in addition to Marlborough were — Manawatu/Wanganui +83.3 percent, up from 12 to 22 properties; Northland up 62.3 percent, up from 69 to 112 properties; Gisborne up 50 percent, up from four to six; Nelson, up 45.7 percent, up from 35 to 51.

Canterbury was one of two regions with an annual rise in the number of properties sold for $3 million-plus in 2018, increasing 140.0 percent (12 properties up from 5 in 2017). Wellington was the only other region with an increase, going from 5 to 6 properties.

Across the country, 71 properties were sold in the $5 million plus category — 63 in Auckland (compared to 76 in 2017), five in Otago (compared to six in 2017) one in Bay of Plenty (the same as in 2017), one in Canterbury (also remaining the same) and one in Wellington (up from zero in 2017).

Buyers seem to be more willing to shell out a million dollars for a house in Gisborne than in Auckland, with new data showing a rise in the number of “million-dollar houses” here.

Data from the Real Estate Institute reveals the number of houses sold for $1m or more hit record levels last year, with six Gisborne properties reaching or surpassing the $1m mark.

The most paid for a house in Gisborne last year was $1.8m, for a property on Wairere Road in Wainui.

Nationally, the number of properties sold around the country for a million dollars or more during 2018 increased by 4.5 percent when compared to 2017 (10,615 up from 10,163).

However, this figure is down significantly on 2016, when 11,648 million-dollar plus properties were sold around the country, according to the Real Estate Institute of New Zealand’s (REINZ) Million Dollar Price Report.

“Volumes of million-dollar plus sales were up year-on-year by 4.5 percent across the country.

This figure has been pulled down by the ‘Auckland impact’,” REINZ chief executive Bindi Norwell said.

“If you remove Auckland from the picture, then the number of million-dollar plus properties actually significantly increased 26.9 percent, which has been largely driven by the regional growth the country has been experiencing.

“The region with the largest year-on-year increase was Marlborough, which saw an increase of 90.9 percent — from 11 properties sold for $1 million or more in 2017 to 21 properties sold for $1 million or more in 2018. However, these numbers are inflated due to the small sample size.

“All regions except Auckland and Southland reached record numbers of properties sold for $1 million or more in 2018.”

Regions with the strongest increases in the number of million-dollar plus sales year-on-year in addition to Marlborough were — Manawatu/Wanganui +83.3 percent, up from 12 to 22 properties; Northland up 62.3 percent, up from 69 to 112 properties; Gisborne up 50 percent, up from four to six; Nelson, up 45.7 percent, up from 35 to 51.

Canterbury was one of two regions with an annual rise in the number of properties sold for $3 million-plus in 2018, increasing 140.0 percent (12 properties up from 5 in 2017). Wellington was the only other region with an increase, going from 5 to 6 properties.

Across the country, 71 properties were sold in the $5 million plus category — 63 in Auckland (compared to 76 in 2017), five in Otago (compared to six in 2017) one in Bay of Plenty (the same as in 2017), one in Canterbury (also remaining the same) and one in Wellington (up from zero in 2017).

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