Snap shot of what has been happening in the marketplace over the past month. The median price across the Waikato region rose 12% compared to December 2016. Prices rose 26% in Hauraki and 21% in South Waikato. Compared to November 2017 the median price increased 7%.
Compared to November, sales volumes fell 11%. Compared to December 2016, sales across the region fell 8% with sales falling sharply in Thames-Coromandel, Hauraki, Waitomo and South Waikato (-36%, -35%, -33% and -32% respectively).
The median number of days to sell improved by one day compared to November, from 37 days in November to 36 days in December. The median number of days to sell eased by six days compared to December 2016. Over the past 10 years the median number of days to sell during December for Waikato has been 42 days on average.
“The Waikato region still had a very busy, active market, other than a couple of quiet weeks over Christmas, and we anticipate the market will pick up in January. First home buyers are still very active here. It’s an easy market to buy in, with affordable prices. The number of first time buyers is up on the same time last year – something we expect is attributable to the changes announced to the LVRs, with people becoming active in anticipation of the changes in the new year. While first home buyers are not usually cash buyers they are very active, so we are getting quite a few offers that are conditional on the usual LIM and Finance and Builders reports, but we’re also seeing offers conditional on methamphetamine tests, showcasing the caution these buyers are exercising.” Philip Searle REINZ Regional Director.
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