Every quarter we step back from the monthly sales and listings data to look at the trends of these two key measures of the supply and demand for the property market as tracked by respective movements over the last quarter.
The picture for the second quarter of 2012 as measured against last year is that the growth in sales across the country is easing. That is not to say that sales themselves are easing, just that the rate of growth is slowing. A year ago in the April to June period 15,981 properties were sold, this year across the same period 18,986 properties were sold a rise of 19%. At the same time listings rose just 7% from 29,190 in April to June 2011 to 31,306 this year.
The chart shows the relative growth or decline of property sales (red bars) and new listings (blue bars) measured by 3 month period compared to the same period the prior year. The data covers the past 3 years. The overall picture from this total NZ property perspective is of the rise in sales volumes for the past 5 quarters since the second quarter of 2011. The listings volumes though slow to respond to this rise in sales have yet to show the scale of increase necessary to re-balance the market from the very strong sellers market now being experienced.
Across the country within the 19 regions the picture is fairly consistent of a still strong sales growth but with listings lagging behind keeping the pressure on the market. The exceptions to this trend can be seen in the Coromandel where sales are down as are listings and in Nelson where activity has slowed, although listings are in short supply.
Below are the charts for each of the 19 regions in alphabetical order – hover over each one to identify the region and then click through to see the full chart.