The latest Real Estate Institute of New Zealand (REINZ) data for August 2024[i] reveal growing confidence, optimism, and activity across New Zealand, including Auckland, compared to the previous year.

Although overall sales volume saw a slight decline, several regions experienced notable increases in activity, with year-on-year listing numbers continuing to climb. Nationally, there were 656 auctions in August 2024 (11.5% of all sales), compared to 799 auctions (10.9%) in August 2023. In Auckland, 335 auctions were held, representing 51% of all auctions across the country, according to REINZ data.

Auckland’s market also recorded a slight rise in average asking prices for the first time since April, according to realestate.co.nz[ii]. The average asking price increased from $1,034,162 in July to $1,047,217 in August, possibly signalling a shift in market dynamics for the City of Sails. However, Sarah Wood, CEO of realestate.co.nz, advises caution: “Every region is unique, so it’s crucial to research the area you’re buying or selling in.”

This resurgence in the Auckland market has coincided with Raine & Horne’s strategic expansion, bolstered by its acquisition of Mike Pero Real Estate. Raine & Horne has rapidly rebranded several Auckland offices with its distinctive handcrafted bespoke gold ampersand symbol and premium and contemporary charcoal and white colour scheme.

These new offices include Raine & Horne Glenfield/Beach Haven/Milford on the North Shore, led by principals Barry Dobson and Jel Puyat. Barry, with over 25 years of multi-award-winning experience, and Puyat, in his seventh year in real estate, bring a powerful combination of expertise and energy to the team.

Edita and Peter Andrijasevic lead Raine & Horne Blockhouse Bay/Titirangi in Auckland City. Edita, a highly motivated property professional, brings extensive experience and a vast network of local and international clients. Drawing on his expertise in planning, organisation, financial advice, and innovative problem-solving from previous roles, Peter works alongside Edita, making significant contributions to their clients’ success.

In West Auckland, Raine & Horne Henderson, led by Brendon Hodge, represents buyers and sellers across Waitakere City and beyond. Positive and proactive, Peter is driven to always provide the highest level of service. He’s passionate about the property market, helping his clients and creating successful results. Understanding the importance of a strong brand, he is also proud to operate under the Raine & Horne banner as the super brand continues its rapid expansion in New Zealand.

If you’re considering buying or selling a property, contact your local Raine & Horne office for expert advice and support.

[i] https://www.reinz.co.nz/Web/Web/News/News-Articles/Market-updates/REINZ-August-2024-data-Property-market-stable-as-sentiment-improves.aspx?name=REINZ-August-2024-data-Property-market-stable-as-sentiment-improves

[ii] https://news.realestate.co.nz/blog/new-zealand-property-market-2024-august