This month (May) there have been some green shoots of confidence starting to show as sales volumes, listings, sales by auction and sales price to valuation ratio all saw an uplift during the month.
Median price is as we expected – up (significantly) in some places, flat in others and down in other regions. New Zealand isn’t just one market, so we expect this volatility to continue – particularly in areas that are heavily reliant on tourism and with no signs on the horizon that the borders will be opening for international holiday makers any time soon. With more expats coming home we expect the top end of the market to hold up for now, but time will tell what impact this has on pricing overall.
RURAL What does the future hold? Data released by REINZ shows there were 61 less farm sales (-18.9%) for the three months ended June 2020 than for the three months ended June 2019. Overall, there were 261 farm sales in the three months ended June 2020, compared to 258 … Read more
Describing the REINZ HPI as ‘the gold standard’ in New Zealand house price analysis tools, Bindi Norwell, Chief Executive at REINZ says “The REINZ HPI takes many aspects of market composition into account, and thus provides more accurate results. When applied to the May data, the HPI indicates that housing … Read more
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