Archive for December, 2016

2017 Looks Good

I wish all readers a very Merry Christmas, a good break hopefully, and a very Happy New Year.

The local residential real estate market is strong, with increased values.
The population is growing, and Manawatu District is leading the region in growth.
Unemployment is below the regional and national averages.
Residential building consents have increased dramatically.
The dairy pay out forecast has substantially increased.
There is strong growth in new car and commercial vehicle registrations.

Compared to most of NZ, Feilding and the Manawatu District is very affordable.

Seasons greetings,
Michael Ford

Over the $300,000 barrier!!!

The REINZ median residential house sale price for Feilding is $308,500 when calculated over 3 months, and $318,250 for the month of November alone. This is the 4th individual month out of 5 at or over $300,000, which is consistent enough to say that we have broken that barrier. Compare this to a median of around $260,000 in the middle of last year. Eastern Suburbs in Auckland has increased $460,000 since August, and November saw an increase in the number of sales there!

November median house prices calculated over 3 months were:

Feilding                            308,500
Palmerston North           335,250
New Zealand                    515,000
Eastern Suburbs Ak    1,634,000
Levin                                 237,000
Rangitikei                         170,000
Pahiatua                           165,000
Whanganui                       171,500

Kind regards
Michael Ford

What Price Ranges Have Sold?

Of the last 110 sales in Feilding in the last 3 months by Licensed Real Estate Agents, 7 were sections with sale prices between $90,000 and $219,000.

Units and Houses started at $112,000 for an ex rental flat, and the top price was $599,000 for a new home at Mount Taylor.

$100,000 – $199,000           7 Sales
$200,000 – $299,000       40 Sales
$300,000 – $399,000       29 Sales
$400,000 – $499,000       18 Sales
$500,000 – $599,000         9 Sales

Kind regards
Michael Ford