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December Market Update

By Alan Atkins

REINZ, the most up to date source of real estate data in New Zealand, announced that there were 8,048 dwelling sales in November 2015, up 8.5% on November 2014 and up 2.7% compared to October. Excluding Auckland, the number of sales compared to November 2014 increased by 23.8%, and rose 4.6% compared to October.

The national median price was $459,500 for November, an increase of $3,750 or 0.8% on November 2014, but down 0.1% compared to October. Excluding the impact of the Auckland region, the national median price rose $15,000 to $375,000 compared to November 2014 to reach a new record high, and rose 1.4% compared to October. New record median prices were also reached in Waikato/Bay of Plenty and Wellington.

For the Nelson/Marlborough region the median price rose $15,000 (+4%) compared to November 2014 and sales volume compared to November 2014 rose 18%. REINZ Chief Executive, Colleen Milne noted that “First home buyers are becoming more active across the region, although the number of investors has pulled back a little from earlier in the year. Listings remain in short supply across the region, with multi offers increasingly common and the number of offers being made on a single property also increasing.”

For the wider Motueka market new listings remained steady for the month in line with the previous month and this time last year. Sale numbers were down on October but up on November 2014. The median days on market were a very realistic 52 with the median freehold house price dropping back to $422,750

There have been some very good results for sellers over the last 3 months, and with steady buyer enquiry across most property types/price ranges it looks like this trend will continue into the New Year.

From the team at Ray White Motueka we wish to and your family a merry Christmas and a happy New Year.

Statistics quoted in this article are sourced in-house and from REINZ and, while we endeavor to keep the figures as accurate as possible they cannot be guaranteed.

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