REINZ Press Release Jan 2018 Stats
Record breaking heat sees year-on-year sales volumes lift for first time in 7 months, says REINZ
As the mercury rose during January to produce the hottest month on record, sales volumes across New Zealand rose when compared to the same time last year for the first time in seven months according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.
The number of properties sold in New Zealand during January 2018 increased by 2.7% when compared to January 2017 (4,366 up from 4,251). The number of properties sold in Auckland increased 0.9% year-on-year to 1,157 up from 1,147.
Regions with the biggest increase in sales count year-on-year were:
• Nelson – up 27.9% (78 compared to 61 in January 2017)
• Canterbury – up 18.1% (607 compared to 514 in January 2017)
• Tasman – 15.8% (44 compared to 38 in January 2017)
• Gisborne – up 12.5% (36 compared to 32 in January 2017).
Bindi Norwell, Chief Executive at REINZ says: “January can often be a quiet month for the industry as people spend much of their time at the beach or the bach. However, clearly the warmer weather has helped sales, as it’s the first time we’ve seen a positive year-on-year sales increase in seven months.
“There were some really positive figures from around the country, with 11 out of 16 regions experiencing an increase in sales when compared to the same time last year. Additionally, Gisborne saw the highest number of properties sold in the month of January since January 2007,” continues Norwell.
House prices continue to be driven by strong regional growth
The median house price for New Zealand increased by 7.1% to $520,000, up from $485,500 in January 2017.
Auckland’s median price decreased by 1.2% to $820,000 down from $830,000 at the same time last year. The only other region to experience a price decrease year-on-year was West Coast, down 10.0% to $135,000.
January also saw two regions experience record prices:
• Otago – up 32.9% to $475,000
• Hawke’s Bay – up 18.4% to $438,000
END.
With house prices continuing to increase in Hawkes Bay it is still a good time to sell.
If your over 65 or have a Super Gold card and want to maximise your return when selling you need to Get Ben.
Get a live market appraisal in your home today with Ben Keehan, call now 06 8459202
Landmarks talk
Just a note for people to get an update regarding Knowledge Bank
Landmarks History Talk
When: Tuesday 8 October 2024 at 5.30pm
Where: Hastings War Memorial Library
Our October speakers are Cynthia Bowers, Chairperson, and Linda Bainbridge, Manager, of Knowledge Bank Hawke's Bay.
Title: Knowledge Bank Hawke's Bay: Looking to the Future
The Knowledge Bank has been through a period of disruption and change and our speakers will share the strategies and plans that are place to ensure the future of this valuable local institution.
These talks are open to the public and all are welcome. Entry by gold coin donation please.
Poll: Should employees be able to work from home?
At the post-Cabinet press conference, the National Party asserted they want public sector staff to return to the office. This has opened a conversation about other sectors in New Zealand who have adopted working from home (WFH).
Where possible, do you think employees should be able to work from home? Vote below and share your thoughts in the comments.
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65.9% Yes
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31.4% No
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2.7% Other - I'll share below
Poll: How do you feel about dogs being allowed indoors in cafes?
For most of us, seeing a friendly doggo while out and about instantly brings a smile to our faces. But how do you feel about cafes welcoming pups inside?
Cast a vote and share your thoughts below.
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27.3% I love it!
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31.3% Only in designated areas
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41.3% No, it should be outdoors only.
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