- There were 177 appointments in September 2016. 164 liquidations, no administrations and 13 receiverships were recorded.
- Total insolvency appointments stand at 1,717 for the year to date which is down on previous years.
- Applications made to the High Court to liquidate companies in September 2016 totalled 23. This is considerably lower than previous years.
How does 2016 compare thus far to the last five years?
Market commentary – what’s going on with the housing market?
According to Barfoot and Thompson, it looks like this summer might be a bit cooler than last year’s. When compared to what was happening to prices last September, the Auckland housing market is slowing down as the total numbers of houses sold drop.
In years past, the housing market traditionally starts to pick up in September, but this year’s slow start in Auckland may be set to continue for a while.
Barfoot and Thompson just listed 1,536 homes for sale in September. This is 10% down from August in which 1,706 homes were listed.
Or 20.8% down from last September, which saw 1,940 new listings.
The average selling price improved slightly, however, from $906,560 in August to $919,849 in September.
The top end of the market remains unaffected by the cool down, with 404 properties selling for $1 million or more. These sales accounted for 38.3% of the agency’s sales in September.
Meanwhile, just 7.7% of sales were for less than $500,000.
What are your thoughts on the insolvency stats for September? What’s your prediction for the housing market? Please email Simon at sdalton@gerryrea.co.nz