The core 2 and 3 bedroom market is still in force, but there was a good percentage of more family orientated 4 bedroom properties sold during the month too. These larger 4 bedroom properties also saw buyers reaching into their pockets for a decent amount more money than what they could have brought a 3 bedroom home for. (Great time to consider placing a 4~5 bedroom property on the market it would appear?)
Most of the provincial centres have increased in value by around 1% over the past three months with the exceptions being Wanganui which has increased 2.8%, Rotorua, Napier and Nelson have all remained relatively stable, and Gisborne has dropped 1.3%.
(QV June 12th 2012)
In their latest market update on SOLD figures, the Real Estate Institute of NZ (REINZ) also provided some snapshots of the regions.
Included in that update was the chart above depicting a “little changed” median price over the last 5 years.
Interest rates are continuing to be a factor high on the minds of buyers, and to that aim, we have seen a re-introduction of investor buyers back into the scene over recent weeks.
Topping off the busy month of May were 14 sections sales in Nelson City too.