Auckland housing market shows signs of cooling – study
Auckland’s housing market may be starting to cool off, according to a new set of data.
Research from Barfoot & Thompson has shown that house prices in the North Island’s major city have grown by the lowest rate in five years.
The real estate company revealed that the average house price across all sales in 2017 was $926,632, while the median selling price came in at $843,583. This represents annual increases of 4.5% and 2.7% respectively.
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Peter Thompson, Managing Director of Barfoot & Thompson, said: What did change significantly in 2017 was the number of homes sold, which fell by more than a quarter on the numbers sold in each of the previous three years.
Indeed, the total value of sales for 2017 stood at NZ$8.42bn, a steep decline from 2016’s total of $10.65bn.
Thompson added: “The sense of urgency to buy a property regardless of its asking price has disappeared. It has been replaced by buyers taking a more considered approach.
“Normally when sale numbers fall by such a large percentage, prices retreat from their record high levels. But this has not occurred, and prices have continued to rise modestly. It underlines there is still buyer support at current prices.”
The number of homes sold above $1mn continues to rise, with 37% of all 2017 Auckland house sales being above this threshold. This is a small increase from 35.4% in 2016 and 29.1% in 2015.
Timeline: India takes unicorn leap with six in five days
We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.
April 5: Meesho
India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.
April 6: CRED
Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.
April 7: API Holdings / Groww
The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.
April 8: ShareChat
New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.
April 9: Gupshup
AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels.