Snap shot of what has been happening in the marketplace over the past month.
The median price across the Waikato region rose $20,000 compared to November 2016. Compared to October 2017 the median price decreased $14,000 with strong decreases in Otorohanga and Hauraki (-17% and -10% respectively).
Compared to October, sales volumes rose 12%, with
sales increasing 66% in Waikato District and 61% in Hauraki. Compared to November 2016, sales across the region fell 15% with sales falling in Otorohanga and Hamilton City (-25% and -23%).
The median number of days to sell eased by one day compared to October, from 36 days in October to 37 days in November. The median number of days to sell eased by three days compared to November 2016. Over the past 10 years the average number of days to sell during November for Waikato has been 43 days.
“The Waikato market remains steady and consistent, although over the last few weeks
we’ve seen the usual summer rush in order to attract viewings from out of town visitors over the summer holiday period. There are still not enough listings at the lower end of the market for first time buyers and there is a lack of suitably priced homes, as we’re still seeing a number of vendors anticipating higher prices from Auckland buyers. Over the next few months, the relaxing of the LVR rules should help the investor market increase slightly and restore a little more confidence to the market.” Philip Searle, REINZ Regional Director.
Obviously the statistics contained within this article represent only a small fraction of the data I have at my fingertips. For more information relevant to your street or your property, call and ask for one of our team.