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Dear *|FNAME|*,
As New Zealand now moves into the Autumn months the property market is still showing continued increases in sale prices around the country, with a new national median of $415,000. Volumes of sales are however falling with a drop of 7.6% in February compared to February 2013. This is likely to be the effective of recent increases in interest rates as well as LVR (loan to value ration) restrictions on mortgages.
We will continue to report on property market trends throughout the year, but if you would like any additional information or statistics on a particular region of New Zealand, please do not hesitate to contact me.
Kind regards,
Hayley Lavender
National Marketing Manager
Bayleys Realty Group |
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Auckland |
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Auckland |
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Wellington |
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Canterbury |
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Canterbury |
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Otago |
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Northland |
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Rodney |
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Auckland |
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Auckland |
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Waikato |
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Bay of Plenty |
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Hawkes Bay |
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Wairarapa |
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| South Wairarapa |
Expressions of Interest |
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Manawatu |
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| Palmerston North |
$425,000 |
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Wellington |
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Nelson |
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| Kaiteriteri |
Offers over $1,500,000 |
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Marlborough |
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| NZ PROPERTY MARKET RESEARCH - February 2014 |
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This month we move the focus from sales research to asking prices around New Zealand. Seller confidence in the market has driven asking prices of new listings to record levels in February; with the national (seasonally adjusted) mean reaching a new high of $483,099. (Source - unconditional.co.nz).
The rise in asking price was noticeable across more than half of New Zealand, with 11 regions reporting a rise in asking price. See map below.
Mean Asking Price - February 2014
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| REGIONAL HIGHLIGHT - Hawke's Bay |
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Each month we provide in-depth market research on a specific region of New Zealand. This month we highlight the Hawke's Bay region.
Hawke's Bay, on the North Island's eastern coast, has some of New Zealand's highest sunshine hours - a climate that infuses the region's award-winning wine and gourmet food. The seaside city of Napier has an internationally significant collection of colourful Art Deco architecture.
The median house price in the region reached a record high of $305,000 in February, a rise of 7.3% compared to February 2013 with noticeable increases seen in Hawkes Bay Country and Napier City.
Real Estate Institute of New Zealand's Chief Executive, Helen O'Sullivan noted that "the region continues to experience a shortage of listings, which is helping to drive higher attendances at open homes and quick sales for properties that are well priced."
Source – REINZ |
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