- There were 180 appointments in May 2016. 170 liquidations, 3 administrations and 7 receiverships were recorded. The volume of liquidations is down on those seen in May 2012, 2013 & 2014, but close to those seen last year.
- Total insolvency appointments stand at 938 for the year to date which is down on 2015, but slightly in line with 2014
- Applications made to the High Court to liquidate companies in May 2016 totalled 116. This is consistent with previous years.
How does 2016 compare thus far to the last five years?
Applications To Liquidate: Summary for last four months
Market commentary – what’s going on with the housing situation?
As a country, the New Zealand median selling price set a new all time high in May — $506,000. This was up 10% compared to May last year.
It was the first time the national median price has been above $500,000.
The increase in median prices was driven by sales in regions south of the Bombays, with Auckland’s median price falling from $812,000 in April to $805,000 in May — a decline of 0.9% for the month.
For the second month in a row Auckland’s median price has fallen since it hit a record high of $820,000 in March. The Auckland median price, however, was still up 7.5% compared to May last year
What are your thoughts on the insolvency stats? What’s your prediction on the housing market? Will it dip? Please email Simon at sdalton@gerryrea.co.nz