Auckland refuses to slow down the sales climb that started late last year, with new data from the Real Estate Institute of New Zealand showing a decent increase in sales from the previous year. A 10-day long investigation into housing in New Zealand from the UN has indicated that more immediate action needs to be taken to deal with the housing crisis in New Zealand.

Here’s what you need to know:

Auckland Sales in January hit Four Year High

New data from The Real Estate Institute of NZ reveal that the summer sales sizzle is well in effect, with 1295 properties were sold in Auckland in January, up +9.7% compared to January last year and the highest number of sales in the month of January since 2016.

This surge in sales indicates that the upwards trend in sales, we saw in the final months of 2019 has not stopped into the new year, or for the holiday period. Sales were particularly strong in regions that have seen success in the past few months, including North Shore, (+29.0%), Waitakere (+28.6%) and Rodney (+21.1%).

The rest of the country also saw a slight hike in sales with 3308 properties sold in January, up +0.9% compared to January last year. This increase was also the highest level of sales for the month of January since 2016, with 10 of the country’s 16 regions posting higher sales levels than a year ago.

But the data also showed that the median selling price had dropped slightly from December. In Auckland the median dropped back to $875,000 in January from $890,000 in December and remained below the record of $900,000 set in March 2017. The National median dropped back to $615,000 in January from $629,000 in December, but that was still up 11.8% compared to January last year.

United Nations Housing Expert calls NZ Housing Crisis a “Human Rights Crisis”

Concluding a 10-day long investigation into housing in New Zealand organized by the government, UN Special Rapporteur on the right to housing, Leilani Farha has labeled New Zealand’s housing crisis a “human rights crisis”, and is calling on the Government to consider imposing a capital gains tax and rent freezes.

Farha addressed that the Government had taken important steps to improve the country’s housing problems but stressed that a bold and immediate approach was needed.

“It will take courage and new ideas, and it may require taking what are perceived as politically unpopular decisions, such as imposing a capital gains tax on the sale of residential properties, rent freezes, innovative uses of vacant homes, and tighter regulation of short-term rental platforms.”

Farah stated that the conditions of homelessness, people living in cars, motels and state houses in disrepair “indicate not only violations of the right to housing, but also of the right to health, security and life.” Farha said the situation hit the most marginalized the hardest: Māori, Pacific peoples, people with disabilities, single parents, immigrants and others.

-Ravi Mehta