Dec 12th, 2013
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.
Nelson cities November 2013 chart followes…
December 12 2013 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
Sept 16th 2013
The Real Estate Institute of New Zealand has just released the Sold figures for the month that was August 2013.
Highlights of the month reported were;
- 6,548 houses sold in August 2013, up 8.5% on August 2012
- New median high price in Nelson/Marlborough; Canterbury/Westland back at its median high
- National Stratified House Price Index has reached a new record high; Auckland House Price Index also hit new high and is up 17.9% over August 2012
- 1,416 houses sold by auction, representing 21.6% of all sales in August.
- Market continues to experience significant shortages of listings
REINZ report that Nelson regions data shows;
The median price across the region rose by $36,500 (+11.1%) compared to August 2012 to reach a new all time high. Prices rose more than 20% in Nelson, although eased elsewhere across the region. Compared to July the median price increased by $21,500 (+6.2%) with prices rising in Nelson and Richmond but easing elsewhere.
Sales volume compared to August 2012 was 1% higher with a 50% increase in Richmond, but a 40% fall in Motueka. Compared to July sales volumes fell 5.1% with falls in Nelson City, Motueka and Marlborough/Kaikoura.
The number of days to sell improved by one day compared to July, from 42 days in July to 41 days in August. Compared to August 2012 the number of days to sell improved by five days. Over the past 10 years the average number of days to sell in August across the region has been 44 days.
REINZ Chief Executive, Helen O’Sullivan also noted that “the market remains active with first home buyers moving quickly. Investors have a noticeable presence in the market also meaning that overall activity has been good. Listings remain tight, limiting buyer choice, however, the market could be categorized as something of a sellers market at present.”
I should mention that although the REINZ CEO states plenty of activity in the first home buyer territory, I can tell you there was equally plenty of activity in the $450 – 600k price range too, a region not usually known for showing the kind of “days to sell” the chart above dictates. Just noticed that the Days to Sell didn’t print for the 5+ category, it was 32 days.
September 16 2013 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
Aug 12th 2013
REINZ released the sales figures for homes sold in July 2013 in NZ today, and at the same time, obviously that included Nelson City.
They say the local median is NZD$345,500 and by my calc’s I reckon $345,000, but hey….what’s $500 between friends?
The chart tells you whats happening…and I can tell you from an “on the ground perspective” ….. all of a sudden, it seems to have got “real busy.” But that won’t matter if you aren’t in the market anyway. So if you are …just call.
August 12 2013 | Buyers and General and Nelson and Sellers and Stats / Sales Data and The Market | No Comments »
Jul 8th, 2013
The Real Estate Institute of NZ (REINZ) has just released this afternoon nationally consolidated sales figures for properties sold NZ wide during the month of June 2013.
Nelson City saw its median steady at $351,000, to all intents and purposes practically the same figure as June 2009, nevertheless what took 47 days to sell back in June 2009, took just 31 days in June 2013.
Interestingly though, as above, although we are seeing June pricing staying reasonably steady, the data that does tell the picture is in the other two metrics. Over the last few years we have seen a mixture in the number of properties sold in Nelson City each June, but telling is the DOM figures. (Days on Market – aka Days to Sell) Junes figure, at 31 days, is the lowest for quite a while.
Nelson City sections sales were down on the usually increased transactions we have seen this year, only 5 changed hands. However some indication can be taken in the DOM figure here too at 78 days ….. in case you weren’t aware, locally that’s healthy indeed.
Ultimately the new REINZ Stratified Median Housing Price Index does indeed depict what is happening and why the RBNZ is talking up debate around increasing LVR levels in NZ.
The inventory issue is typically always reflected in the “weeks of inventory on market” figure, and in case you can’t see that on this chart, it goes like this, Auckland, Canterbury, Wellington, Otago, Nelson…
SOURCE – www.realestate.co.nz (NZ Property Report – June 2013)
Part of the reason why prices seem to still be on the rise, and as I have spoken about here plenty of times before, is its always about SUPPLY Vs DEMAND, and the chart below shows no improvement on that “supply” side.
SOURCE – www.realestate.co.nz JUNE 2013 NZ PROPERTY REPORT
In this months press release the Institute comment;
The REINZ Stratified Housing Price Index, which adjusts for some of the variations in mix that can impact on the median price, is 8.4% higher than June 2012 and eased very sightly compared to May. The Auckland, Christchurch and Other South Island Stratified Housing Price Indices all hit new record highs in June, with the Auckland Index up 19.8% compared to June 2012, the Christchurch Index is up 10.6% and the Other South Island Index up 7.3%.
(Emphasis added by me)
Important takeouts from this months REINZ summary were;
• 6,135 houses sold in June 2013, equal to the number sold in June 2012
• New median high price in Canterbury/Westland
• New National Stratified Index highs for Auckland, Christchurch and Other South Island
Locally, the Institutes Nelson representative commented;
The number of days to sell improved by six days compared to May, from 45 days in May to 39 days in June. Compared to June 2012 the number of days to sell improved by 16 days. Over the past 10 years the average number of days to sell in June across the region has been 44 days.
That was the month that was June 2013.
SOURCE – REINZ Press Release “Sales Growth Takes A Breather In June Real Estate Market” – 8th July 2013
July 08 2013 | Buyers and Nelson and Sellers and Stats / Sales Data and The Market | No Comments »
June 12th, 2013
The Real Estate Institute of NZ (REINZ) has just released this morning consolidated sales figures for properties sold NZ wide in May 2013.
Nelson City saw its median price creep up to $362,000. (REINZ – $362,250)
It was another busy month too, with 96 dwellings changes hands.
Sections sales were a steady 8 units.
The Auckland market still seems to be powering ahead of the rest of the country as the chart from QV NZ depicts. QV NZ report that Nelson City is up 3.9% in prices over the last 12 months, but only 2.9% overall since the 2007 market peak.
Locally the inventory levels in Nelson City seem to be definitely mirroring what is happen across other parts of the country….
SOURCE: www.realestate.co.nz (NZ Property Report May 2013)
…..and that is, as in Nelsons case above at 23 weeks, reducing. Be aware the above factoid takes into account the Tasman region too, so really is being a bit unfair on Nelson City in that aspect. And the Institutes CEO puts it like this
REINZ Chief Executive, Helen O’Sullivan noted that “both investors and first home buyers are active in the market, and vendors remain well informed about the market. However, the region is seeing an increasing shortage of listings for properties in the $250,000 – $400,000 bracket, the most active part of the market.”
Exactly how it feels out there on the street.
June 12 2013 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »