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Archive for the ‘Property Pulse – Regional Market Report’ Category

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Wellington – Property Market Pulse factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in Wellington Property Market Factsheet

My-Adobe-PDF-Files-iconThe Wellington region Property Market factsheet for July 2010 can be downloaded by clicking this icon.

Property prices in the Wellington region as measured on a stratified basis fell further in June to $401,100. This is the 4th consecutive month of price fall from $423,675 in February. As compared to a year ago prices are down 1.8%.

Wellington stratified house price Jul 2010

Property sales measured on a seasonally adjusted basis increased by 9.7% from May. There was a total of 490 property sales in the month. In the first half of 2010 a total of 3,137 properties have been sold, down 9.6% on the same period in 2009.

Wellington_property_sales_July_2010

Inventory of houses on the market leveled off in June following the fall in May. The current level of 23 weeks of equivalent sales is close to the long term average in the region of 21 weeks.

Wellington_inventory_of_properties_for_sale_July_2010

In overall terms the property market across Wellington continues to be steady with no significant advantage to either buyers or sellers, although sales volumes remain subdued.

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West Coast – Property Pulse Market factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in West Coast Property Market Factsheet

My-Adobe-PDF-Files-icon

The West Coast district Property Market factsheet for July 2010 can be downloaded by clicking this icon.

Property sales on the West Coast enjoyed a significant increase in June rising a seasonally adjusted 72% with sales of 36 properties up from 29 in May. The first half of 2010 has seen sales of 169 as compared to 178 in the same period last year – a fall of 5%.

West Coast property sales July 2010

Inventory of houses though rose again in June despite the upturn in sales. The June inventory of houses on the market equated to 161 weeks of sales, this followed a significant fall in inventory seen in May from a record peak in April. This level of inventory is considerably higher than the long term average of 99 weeks. This would indicate that the market is still firmly favouring buyers.

West coast region inventory July 2010

Property prices for the West Coast are included in the broad Canterbury / West Coast regional median property price, in June this price was $325,000 up 10.2% on June 2009 price.

Canterbury West Coast median house prices July 2010

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Marlborough – Property Market Pulse factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in Marlborough Property Market Factsheet

My-Adobe-PDF-Files-iconThe Marlborough region Property Market factsheet for July 2010 can be downloaded by clicking this icon.

Property sales in the Marlborough region remained steady on a seasonally adjusted basis with a 5.4% increase from May to June. A total of 52 properties were sold in June compared to 67 in June last year. In the first half of 2010 a total of 368 properties were sold down 24.4% on the same period in 2009.

Marlborough property sales July 2010

The level of inventory of houses on the market in June rose following the sharp fall in May. The inventory as measured on the equivalent weeks of sales rose from 67 to 69 weeks. This level of inventory is significantly higher than the long term average of 46 weeks. This would indicate that the market is favouring buyers.

Marlborough inventory of properties for sale July 2010

Property prices for the Marlborough region are included in the broad Nelson / Marlborough regional median property price, in June this price was $347,250 up 4% on the median price in June 2009.

Nelson Marlborough property prices July 2010

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Nelson – Property Market Pulse factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in Nelson Property Market Factsheet

My-Adobe-PDF-Files-iconThe Nelson region Property Market factsheet for July 2010 can be downloaded by clicking this icon.

Property sales in the Nelson region took a sharp adjustment in June. Following on from strong sales in past 4 months the seasonally adjusted sales fell 28% in June. There were 98 sales in June compared to 158 in May. The first half of 2010 has seen 796 sales compared to 884 in the same 6 month period of 2009.

Nelson property sales July 2010

Despite the fall off in sales the inventory of properties on the market in June fell again from May. In June the inventory of houses on the market was 26 weeks down from 29 weeks of equivalent sales in May. This level of inventory is now below the long term average of 28 weeks. This would indicate that the market is fairly well balanced with if anything a favourable position for property sellers.

Nelson inventory of properties for sale July 2010

Property prices for the Nelson are included in the broad Nelson / Marlborough regional median property price, in June this price was $347,250 up 4% on June 2009.

Nelson Marlborough property prices July 2010

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Canterbury – Property Pulse Market factbook – July 2010

Posted on: July 22nd, 2010 | Filed in Canterbury Property Market Factsheet

My-Adobe-PDF-Files-iconThe Canterbury Property Market factsheet for July 2010 can be downloaded by clicking this icon.

Property prices based on the stratified pricing model for Christchurch rose in June to $349,595 from $339,530 in May. Compared to June 2009 prices are up 7.8%.

Christchurch stratified house price Jul 2010

Across the Canterbury region property sales remain subdued on a seasonally adjusted basis up just 4.4% from May. There were 674 sales in June as compared to 697 in May. Sales for the first half of 2010 at 4,178 reflect an 18% lower level than the same period on 2009.

Canterbury property sales July 2010

Inventory of houses on the market fell again in June from the May level of 36 weeks of equivalent sales to 35 weeks in June; this figure is close to the long term average in the region of 31 weeks.

Canterbury inventory of property on the market July 2010

In overall terms the property market across the Canterbury region continues to be steady with a slight advantage to buyers, although sales volumes remain subdued.

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Otago – Property Market Pulse factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in Otago Property Market Factsheet

My-Adobe-PDF-Files-iconThe Otago region Property Market factsheet for July 2010 can be downloaded by clicking this icon.

The median property price in Otago fell again in June from $230,000 in May to $227,500. As compared to a year ago prices in the region are up by 3.8%.

Otago region median property price Jul 2010

Property sales fell on a seasonally adjusted basis in June by 6.8% with 182 actual sales in the month. In the first half of 2010 total sales reached 1,237 as compared to 1,419 in the same first 6 months of 2009 – a fall of nearly 13%.

Otago House sales Jul 2010

The inventory of houses on the market fell again in June from the May inventory of 33. The June figure was 29 weeks of equivalent sales. This June inventory of 29 weeks is now approaching the long term average of 26 weeks. This would indicate that the market is now far more balanced than in the past few months with neither buyers nor sellers having the upper hand.

Otago inventory of property for sale Jul 2010

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Queenstown Lakes – Propert Market Pulse factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in Queenstown Lakes Property Market Factsheet

My-Adobe-PDF-Files-iconThe Queenstown Lakes Property Market factsheet for July 2010 can be downloaded by clicking this icon.

Property prices in the Central Otago Lakes district slipped in June from $432,000 in May to $415,000. As compared to a year ago prices in the region are down by 5.4%.

Queenstown lakes district property prices July 2010

Property sales in the region rose significantly in June on a seasonally adjusted basis by 55%. There were 85 properties sold in June up from 67 in May. Despite the rise in June, total sales in the first 6 months of 2010 were down 3.5% with 496 property sales which compares to 514 in the first half of 2009.

Queenstown Lakes property sales Jul 2010

Inventory of houses on the market rose again in June following a dip in May, this despite the rise in sales volumes. In June the inventory level was 113 weeks of equivalent sales as compared to 97 weeks in May. This June level of inventory is still close to the long term average of 91 weeks. This would indicate that the market is fairly well balanced between buyers and sellers.

Queenstown lakes inventory of properties Jul 2010

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Southland – Property Market Pulse factsheet – July 2010

Posted on: July 22nd, 2010 | Filed in Southland Property Market Factsheet

My-Adobe-PDF-Files-iconThe Southland Property Market factsheet for July 2010 can be downloaded by clicking this icon.

The median property price in Southland fell sharply in June, from the may figure of $197,000, to $172,000. As compared to a year ago prices in the region are in the month down over 11%. This takes the current price close to the low of $165,000 in November 2008.

Southland median sales price July 2010

Property sales in the region fell 10% in June on a seasonally adjusted basis to 111 properties. The first half of 2010 has seen a total of 711 sales as compared to 842 in the same period in 2009 – a drop of 16%.

Southland seasonally adjusted sales July 2010

Inventory of houses on the market spiked upwards in June as a result of the sales decline. The June level of 44 weeks of equivalent sales compares to the 40 weeks in May. This June inventory of 44 weeks of equivalent sales remains high as compared to the long term average of 26 weeks. This would indicate that the market is still favouring buyers.

Southland inventory of properties for sale Jul 2010

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NZ Property Market Pulse – June 2010

Posted on: June 24th, 2010 | Filed in Featured, Property Pulse - Regional Market Report, Regional News

Property Pulse Realestate.co.nzAssessing the state of the property market can be as daunting as finding that perfect house. There is a multiplicity of reports appearing all the time, all sharing insight into where the market is headed. We would like to provide on a monthly basis – not a new report, but a digest of what we here at Realestate.co.nz are the key numbers to follow.

The property market is like any other type of market, there are buyers and sellers, there is available stock and there are sales number and also the ever critical sale price. These are the key numbers we think are critical to follow. Each month we will highlight by region and nationally these key numbers and the picture they are showing.

Property Sales

The number of property sales is a key measure of buyer activity. The Real Estate Institute release this data on a monthly basis from the sales made by all licensed agents in the prior month making this data the most timely and comprehensive. Actual monthly sales data is effected by seasonal factors, for this reason seasonally adjusted data is presented which clearly shows one month to the next if the sales are going up or down.

NZ seasonally adjusted property sales May 2010 Realestate.co.nz

Commentary:

Sales in May amounted to 5,206 down just a single house as compared to April. As viewed on a seasonally adjusted basis the number of sales turned around having seen a consistent growth from the start of the year, reasons behind this could certainly be influenced around uncertainty surrounding the May budget and future interest rate expectation.

Property Price

The selling price of properties measures that critical balance between what a buyer is prepared to pay and what a seller is prepared to accept. The Real Estate Institute data of prior month sales produces a median price. This raw number is then re-calculated through a model developed in partnership with the Reserve Bank of NZ to create a Stratified Price, which ensures that volume changes in key price segments do not skew the figures.

NZ Stratified property price - May 2010 Realestate.co.nz

Commentary:

The stratified price fell in May down from the April figure of $366,925 to the May figure of $361,600 taking prices back to the same level at the start of the year. This clearly shows the market is tight with little immediate pressure on price as sales volumes remain subdued.

Stock of Property

The number of properties on the month is provided from Realestate.co.nz data and measures the level of seller activity in the market. The data represents the total number of new listings coming onto the market each month and is compiled at the start of each month for the prior month and is published in the NZ Property Report. The measure of properties on the market is represented by the number of weeks of equivalent sales, and judged on a comparative basis with prior months more accurately reflects the state of the market.

NZ Inventory of property on the market - May 2010 Realestate.co.nz

Commentary:

The level of new listings in May fell, sending the stock of property on the market down from the peak of 52 weeks in April – that was equating to a full years worth of sales on the market. The current level for May at 47 weeks is still high by historical standards. The long term average is around 38 weeks which would indicate that the market is still very much in favour of buyers rather than sellers.

These statistics are the aggregation of all the statistics from across the country. As is well know by those in the industry, real estate is a local business and in an attempt to provide greater insight into the local market the same set of key data – sales, selling price and inventory has been calculated for each of the 19 regions of the country. Check out the factsheet for your local region to see what is happening in your neck of the woods.

North Island

South Island

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Northland – Property market pulse factsheet – June 2010

Posted on: June 24th, 2010 | Filed in Northland Property Market Factsheet

Property prices edged up slightly in May to $325,000 an increase of 6% over the past year.

NZ Property market pulse factsheet - Northland price June 2010 Realestate.co.nz

Sales fell in May on a seasonally adjusted basis from 156 in April to 124 in May. The first 5 months of this year has seen volumes down 6% over the same 5 months of 2009.

NZ Property market pulse factsheet - Northland sales June 2010 Realestate.co.nz

Inventory of houses on the market fell in May from the all time peak of 171 weeks of sale to 154, this continues to be well ahead of the long term average in the region of 110 weeks.

NZ Property market pulse factsheet - Northland inventory June 2010 Realestate.co.nz

In overall terms the property market in the Northland region continues to reflect a buyer’s market, however pricing is as yet is not showing any signs of relenting to the pressure of buyer negotiations.

The Northland region – Property market pulse factsheet for June 2010 is available as a download pdf document.

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