Housing data about to be released

Only 14 per cent of young house-hunters in Auckland believe they will get on the property ladder within two years. Photo / Getty Images

Key Auckland and national house sale data is about to emerge, showing activity during March.

Barfoot & Thompson and Quotable Value are both due to release their information shortly.

Barfoot's data could be out today or tomorrow and that will reveal more about Auckland's pressure-cooker market.

QV is also due to release its data tomorrow at midday, which will show the wider national scene but also drill down into Auckland.

An interesting picture could emerge from both sets of data.

March is clear of the holiday period which traditionally clouds sales. Christmas is over, students are back to schools and tertiary institutes and the market has resumed more normal levels of activity.

That could show a boost in the value and volume of sales.

All the factors driving the market to greater peaks remain in play.

The migration boom is continuing unabated, surging to a record high of 67,391 in the February year. Interest rates are remaining at record lows after the Reserve Bank cut the OCR by 25 basis points to a record low of 2.25 per cent last month.

Demand remains strong, particularly from first-home buyers in Auckland who have been waiting for a change.

Cameron Bagrie and Mark Smith of ANZ summed up the market last month, saying Auckland is not the only hot spot.

"Historically low mortgage interest rates, tight dwelling supply and booming net immigration continue to support the housing market, with lower trend consent issuance in Auckland and Wellington expected to maintain demand for existing dwellings.

"Despite manageable debt serviceability, existing house prices remain stretched relative to both incomes and rents, particularly in our largest city and there is considerable scope for other centres to outperform, with the Wellington region starting to play catch-up," they said in their NZ Property Focus.