There are plenty of voices over their who have a point of view on it too
Far from the worry some are mentioning is the fact that any such large spend will expect a payback….and everyone is bandying around 2014’s new catchword “disruptive” as a way of describing something that could be a game changer. Admittedly we here in NZ are more like Australia and the UK in our buyer / seller relationships, and this is quite different than the MLS centric situation the US finds itself in.
The Real Estate Institute of NZ said in its headline “Mixed Price Data and Softer Volumes in December Market” when referring to sales data from December 2013 NZ House sales.
Here is their summary points for the last calendar month of 2013.
As for the region comment, more specifically, the Institutes local representative reported thus;
Sales volume compared to November rose 2.3% with an 11% increase in Nelson, but falls across the rest of the region.
…The median price trend is now steady, although the volume trend continues to ease. The days to sell trend continues to improve more strongly. The overall trend for the region is now steady.
The Nelson situation was commented on by the REINZs CEO, Helen O’Sullivan, who noted;
“the Nelson/Marlborough region is continuing to see an uplift in the median price and realtively strong volumes compared to the rest of the country. Market activity was stronger in December than November with more listings and a rise in the numbers attending open homes.”
The latest New Zealand wide market rent statistics covering the period for 1 July 2013 – 31 December 2013 have been released.
The first lot of figures above are for the Stoke / Nayland and general Tahunanui zones.
Then there are the Tahuna & Port Hills figures above, and lastly….
This lot above represents the general Nelson city area.
If you are curious about what rent is in your area, or if you are looking at purchasing an investment property in another part of NZ unfamiliar to you, you can also check out the latest rental statistics here;
Pricing in general still appears to be on an upward slope.
And for the region comment, over to the REINZ local representative…
The median price across the region rose by $34,050 (+10.5%) compared to November 2012 with prices rising by 10% or more in Nelson and Richmond. Compared to October the median price fell by $5,950 (-1.6%) with prices falling in Motueka and Marlborough/Kaikoura, but risingin Richmond and Nelson City.
Sales volume compared to October fell 6.4% with a more than 30% fall in Nelson. Compared to November 2012 sales volumes fell almost18%, with sales falling 18% in Nelson and by almost 30% in Marlborough/Kaikoura. Only Richmond saw an increase in sales compared toNovember 2012.
The number of days to sell eased by six days compared to October, from 28 days in October to 34 days in November. Compared to November2012 the number of days to sell improved by two days. Over the past 10 years the average number of days to sell in November across theregion has been 39 days.