As can be seen from the following graphs, Kohimarama and Glendowie have trended down and may represent good buying opportunities.Ever wondered how much a property sold for in your area of interest? Now you can see for free.Sales Statistics....Be sure to have a read.
The following two charts are updates of the median prices for suburbs in The Bays from the chart presented two months ago. Comparing the charts with the charts in my previous post indicates prices have largely remained stable.
Taking the charts and graphs together may reflect smart buyers have recognised that any over-valued prices have already corrected and that it is wise to act now before prices begin to lift. They are also aware that the added advantage of benefiting from current low mortgage rates will change. Once mortgage rates move up it is entirely feasible a number of buyers may not be able to afford to buy a property that they can afford now. 
Though the economy is still tight, media reports indicate economists agree they can see improvement – albeit slowly. People are still paying down debt and the retail sector is still sluggish but the unemployment rates have come down and that means more people are getting more money in their pocket to spend. Auckland continues to grow from both international and internal migration but new houses have not been built to cater for the future demand and that means there continues to be a growing shortage of property. The turning point can't be too far away.
