REINZ Auckland Region Analysis for August 2015 Commentary Price  Auckland Region Trends Sales volume in the Auckland region rose 41% compared to August 2014, with strongest sales growth in North Shore (+57%), Outer Auckland (+56%) and Auckland City (+39%). Compared to July sales fell 5% across the region, but rose 4% on a seasonally adjusted basis. Sales rose 1% in Waitakere City but fell across the rest of the region. Compared to August 2014 the median price increased by $125,950 (+21%), with prices increasing 44% in Waitakere, and 25% in North Shore and Rodney. The region's median price rose $5,000 (+1%) compared to July with prices rising 5% in Rodney, 4% in Waitakere and 3% in Auckland City, but falling elsewhere across the region. The number of days to sell was steady at 29 days compared to July, with an improvement of five days compared to August 2014. The days to sell for the Auckland region has been 29 days for the past four months. Over the past 10 years the average number of days to sell during August for Auckland has been 33 days. REINZ Chief Executive, Colleen Milne, noted that, "Demand remains strong from both first home buyers and investors right across the region. Listings remain in short supply, and even though the number of listings is up over 35% compared to 12 months ago, the number of sales is up over 40% continuing the shortage of stock available for sale. " Graph Commentary The trend in the median price continues to rise, with the volume trend now also rising . The days to sell trend is steady. The overall trend for the region is now rising, with Auckland the strongest property market in the country. Aug-15 $935,500 $741,000 $800,000 $675,000 $765,000 $755,650 $579,000 $740,000 North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Median Price Jul-15 $939,000 $711,000 $775,000 $685,000 $758,000 $719,000 $628,515 $735,000 Aug-14 $751,500 $515,000 $733,500 $588,000 $635,000 $604,000 $499,000 $614,050 Jul-15 -0.4% 4.2% 3.2% -1.5% 0.9% 5.1% -7.9% 0.7% Aug-14 24.5% 43.9% 9.1% 14.8% 20.5% 25.1% 16.0% 20.5% Vs… North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Auckland Region Median Price 12 month MA Source: REINZ Aug-14 354 351 653 451 1,877 134 259 2,136 Jul-15 0.2% 1.0% -7.5% -5.1% -4.1% -22.7% -10.6% -5.0% 12 month MA Aug-14 57.1% 15.1% 38.7% 31.9% 38.4% 37.3% 56.4% 40.5% Jun-15 Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Auckland Volumes Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 0 Mar-13 500 $400,000 Jun-12 1,000 $450,000 Sep-12 1,500 $500,000 Mar-12 2,000 $550,000 Sep-11 2,500 $600,000 Dec-11 3,000 $650,000 Jun-11 3,500 $700,000 Dec-10 $750,000 Mar-11 4,000 Sep-10 Vs… Overall  Past 5 Years $800,000 Auckland Median Price Aug-15 556 404 906 595 2,597 184 405 3,002 Days to Sell  Volume Sold Jul-15 555 400 979 627 2,707 238 453 3,160 Auckland Region Sales Volumes Past 5 Years Source: REINZ Volumes  REINZ Northland Region Analysis for August 2015 Commentary Price  Northland Region Trends Sales volume in Northland rose by 97% compared to August 2014, with very strong volume increases in Kerikeri (+121%), Whangarei County (+111%) and Whangarei City (+77%). Compared to July, sales volumes fell 3% across the region, with a 24% increase in Kerikeri and 11% Whangarei County. The median price across the region rose by $28,750 (+10%) compared to August 2014, with prices rising 21% in Whangarei County and 20% in Whangarei City. Compared to July, the median price fell $1,250 (-0.4%) with prices rising 15% in Whangarei City and 5% in Kerikeri, but falling 19% in Otamatea County. Aug-15 $321,000 $452,500 $360,000 $465,250 $323,750 Whangarei City Whangarei County Otamatea County Kerikeri Northland Median Price Jul-15 $280,000 $448,500 $445,000 $442,500 $325,000 Aug-14 $268,000 $375,500 $350,000 $450,000 $295,000 Jul-15 14.6% 0.9% -19.1% 5.1% -0.4% Aug-14 19.8% 20.5% 2.9% 3.4% 9.7% Vs… The number of days to sell eased by 11 days in August, from 52 days in July to 63 days in August. The number of days to sell improved by one day compared to August 2014. Over the past 10 years the average number of days to sell during August for Northland has been 63 days. REINZ Chief Executive, Colleen Milne, noted that, "Sales growth continues to be very strong in Northland, with Auckland buyers and investors active. Inventory data shows that the number of properties available for sale continues to fall quickly in Northland due to the strong demand." Volumes  Whangarei City Whangarei County Otamatea County Kerikeri Northland Aug-15 83 40 18 42 258 Days to Sell  Volume Sold Jul-15 101 36 27 34 266 Vs… Overall  Aug-14 47 19 11 19 131 Jul-15 -17.8% 11.1% -33.3% 23.5% -3.0% Aug-14 76.6% 110.5% 63.6% 121.1% 96.9% Source: REINZ Northland Median Price 12 month MA Source: REINZ Northland Volumes 12 month MA Jun-15 Dec-14 Mar-15 Jun-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Sep-10 Jun-15 Mar-15 Dec-14 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 0 Dec-12 $230,000 Mar-13 50 Jun-12 $255,000 Sep-12 100 Mar-12 150 $280,000 Sep-11 $305,000 Dec-11 200 Jun-11 $330,000 Dec-10 250 Mar-11 300 $355,000 Sep-10 $380,000 Jun-11 Past 5 Years Mar-11 Northland Region Sales Volumes Past 5 Years Dec-10 Northland Region Median Price Sep-14 Graph Commentary The trend in median price continues to ease, although the trend in sales volume is now rising. The days to sell trend is also now rising, with the overall trend for the region also now improving. REINZ Waikato/Bay of Plenty Region Analysis for August 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to August 2014 rose 77%, with sales in Rotorua rising 118%, Hamilton rising 108%, Taupo 90% and Waikato Country 86%. Compared to July, sales across the region fell 5%, with sales increasing 29% in Rotorua, 15% in Taupo and 3% in Gisborne. The median price across the region rose $21,500 (+7%) compared to August 2014 with prices rising 33% in Tauranga, 20% in Hamilton and 14% in Mt Maunganui/Papamoa. Compared to July the median price was fell $4,250 (-1%), with prices rising 8% in Tauranga, 7% in Hamilton and 2% in Eastern BOP Country. The number of days to sell improved by three days in August, from 36 days in July to 33 days in August. The number of days to sell improved by 22 days compared to August 2014. Over the past 10 years the average number of days to sell during August for the region has been 51 days. REINZ Regional Director, Philip Searle, noted that "Cities across the region are seeing very strong demand, particularly Hamilton, Rotorua, Taupo and Tauranga with the influence of Auckland buyers being keenly felt. Both the numbers of first home buyers and investors are increasing. Although the number of listings has increased across the region, the volume of sales has meant that available listings remain very tight." Graph Commentary The trend in median price continues to ease, although the trend in sales volume is now rising. The days to sell trend is also now rising, with the overall trend for the region also now improving. Aug-15 $415,500 $269,000 $470,000 $495,000 $248,000 $335,000 $240,000 $225,000 $353,000 Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Volumes  Median Price Jul-15 $389,000 $275,500 $437,000 $530,000 $250,000 $346,000 $235,000 $235,000 $357,250 Aug-14 $346,500 $277,500 $354,000 $435,000 $248,000 $316,000 $280,000 $261,000 $331,500 Jul-15 6.8% -2.4% 7.6% -6.6% -0.8% -3.2% 2.1% -4.3% -1.2% Aug-14 19.9% -3.1% 32.8% 13.8% 0.0% 6.0% -14.3% -13.8% 6.5% Vs… Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Waikato/BOP Region Median Price Price  Aug-15 408 285 153 99 155 76 51 39 1,487 Days to Sell  Volume Sold Jul-15 404 348 216 125 120 66 63 38 1,560 Vs… Overall  Aug-14 196 153 114 86 71 40 49 44 838 Jul-15 1.0% -18.1% -29.2% -20.8% 29.2% 15.2% -19.0% 2.6% -4.7% Aug-14 108.2% 86.3% 34.2% 15.1% 118.3% 90.0% 4.1% -11.4% 77.4% Waikato/BOP Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ Source: REINZ 12 month MA Jun-15 Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Waikato/BOP Volumes Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Jun-15 Dec-14 Mar-15 Jun-14 12 month MA Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Waikato/BOP Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 Sep-10 $275,000 Dec-11 $300,000 Jun-11 $325,000 Mar-11 $350,000 Sep-10 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Dec-10 $375,000 REINZ Hawkes Bay Region Analysis for August 2015 Commentary Price  Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 49% compared to August 2014, with sales rising 75% in Napier, 57% in Dannevirke and 23% in Hastings. Compared to July, sales volumes fell 13%, with sales falling 5% in Napier, 8% in Dannevirke, 14% in Hawkes Bay Country, and 29% in Hastings City. The median price fell $7,000 (-2%) compared to August 2014 with prices rising 38% in Dannevirke, 7% in Hawkes Bay Country and 5% in Hastings. Compared to July the median price also fell $7,000 (-2%) with prices rising 123% in Hawkes Bay Country and 9% in Hastings. Prices fell across the rest of the region compared to July. Aug-15 $306,500 $275,000 $364,000 $152,000 $285,000 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Median Price Jul-15 $332,500 $253,000 $163,500 $155,000 $292,000 Vs… The median days to sell for Hawkes Bay improved by one day compared to July, from 44 days in July to 43 days in August. The number of days to sell improved by 10 days compared to August 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in August has been 48 days. REINZ Chief Executive, Colleen Milne, noted that, "First home buyers and investors continue to be active across the region, with the number of listings starting to tighten. As a result, vendor expectations are starting to lift as the available listings fall and the demand from buyers starts to increase." Aug-14 $331,133 $262,500 $341,000 $110,000 $292,000 Jul-15 -7.8% 8.7% 122.6% -1.9% -2.4% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes  Aug-15 128 79 19 11 255 Aug-14 -7.4% 4.8% 6.7% 38.2% -2.4% Days to Sell  Volume Sold Jul-15 134 111 22 12 292 Vs… Overall  Aug-14 73 64 17 7 171 Jul-15 -4.5% -28.8% -13.6% -8.3% -12.7% Aug-14 75.3% 23.4% 11.8% 57.1% 49.1% Graph Commentary The median price trend continues to ease, although the sales volume trend is now rising. The days to sell trend is now improving, with the overall trend for the region also now improving. Hawkes Bay Region Median Price Hawkes Bay Region Sales Volumes Past 5 Years Past 5 Years $325,000 350 300 $300,000 250 200 $275,000 150 100 $250,000 50 Source: REINZ 12 month MA Source: REINZ Hawkes Bay Volumes 12 month MA Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-15 Mar-15 Dec-14 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Hawkes Bay Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 0 Sep-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for August 2015 Commentary Price  Manawatu/Wanganui Region Trends Sales volumes rose 33% compared to August 2014, with sales rising 96% in Levin, 63% in Wanganui, and 59% in Manawatu Country. Compared to July sales volumes increased 10%, with sales rising 34% in Wanganui, 21% in Levin and 9% in Palmerston North. The median price across the region fell $10,000 (-4%) compared to August 2014, with prices rising 16% in Levin, 8% in Wanganui and 3% in Manawatu Country. Compared to July the median price fell $14,500 (-6%), with prices rising 10% in Wanganui and 9% in Levin, but falling across the rest of the region. The number of days to sell improved by five days compared to July, from 55 days in July to 50 days in August. Compared to August 2014 the number of days to sell improved by one day. Over the past 10 years the median number of days to sell across the Manawatu/Wanganui region in August has averaged 51 days. REINZ Chief Executive, Colleen Milne, noted that, "First home buyers and investors continue to be active, although in contrast to other regions the number of listings has increased over the last month. Nevertheless vendor expectations are starting to lift as Spring approaches." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Aug-15 $285,000 $228,000 $192,000 $191,000 $165,000 $215,000 Median Price Jul-15 $304,000 $261,000 $176,000 $260,000 $149,500 $229,500 Aug-14 $288,750 $266,500 $165,000 $185,000 $152,500 $225,000 Jul-15 -6.3% -12.6% 9.1% -26.5% 10.4% -6.3% Aug-14 -1.3% -14.4% 16.4% 3.2% 8.2% -4.4% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes  Aug-15 113 23 47 27 67 310 Days to Sell  Volume Sold Jul-15 104 38 39 29 50 282 Vs… Overall  Aug-14 100 28 24 17 41 234 Jul-15 8.7% -39.5% 20.5% -6.9% 34.0% 9.9% Aug-14 13.0% -17.9% 95.8% 58.8% 63.4% 32.5% Graph Commentary The median price trend has dropped from easing to falling, although the volume trend is now rising. The days to sell trend is also improving. The overall trend for the region is now steady. Manawatu/Wanganui Region Median Price Manawatu/Wanganui Region Sales Volumes Past 5 Years Past 5 Years $275,000 350 300 $250,000 250 200 $225,000 150 100 $200,000 50 Source: REINZ Manawatu/Wanganui Median Price Source: REINZ Manawatu/Wanganui Volumes Jun-15 Dec-14 Mar-15 Jun-14 12 month MA Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-15 Mar-15 Dec-14 Jun-14 12 month MA Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 0 Sep-10 $175,000 REINZ Taranaki Region Analysis for August 2015 Commentary Price  Taranaki Region Trends Sales volume for the Taranaki region rose 18% compared to August 2014 with sales up 75% in Taranaki Country and 67% in Bell Block. Compared to July sales volumes fell by 3% with sales up 4% in New Plymouth and Taranaki Country, but falling 21% in Hawera. The median price across the region fell by $1,000 (-0.3%) compared to August 2014, with prices up 6% in Taranaki Country and 4% in Bell Block, but falling across the rest of the region. Compared to July the median price fell $9,500 (-3%) with prices rising 10% in Taranaki Country, but falling across the rest of the region. Aug-15 $350,000 $202,500 $380,000 $209,500 $285,000 New Plymouth Taranaki Country Bell Block Hawera Taranaki Median Price Jul-15 $377,500 $185,000 $417,500 $215,000 $294,500 Vs… The number of days to sell eased by three days compared to July, from 36 days in July to 39 days in August. Compared to August 2014 the number of days to sell improved by three days. Over the past 10 years the median number of days to sell across the region in August has averaged 47 days. REINZ Chief Executive, Colleen Milne, noted that "The Taranaki market remains subdued compared to other North Island regions, with steady demand from both first home buyers and investors. However, there are shortages of listings in some price brackets, more so at the lower end of the market." Aug-14 $370,000 $191,500 $365,000 $230,000 $286,000 Jul-15 -7.3% 9.5% -9.0% -2.6% -3.2% New Plymouth Taranaki Country Bell Block Hawera Taranaki Volumes  Aug-15 75 28 15 23 167 Aug-14 -5.4% 5.7% 4.1% -8.9% -0.3% Days to Sell  Volume Sold Jul-15 72 27 15 29 172 Vs… Overall  Aug-14 72 16 9 22 142 Jul-15 4.2% 3.7% 0.0% -20.7% -2.9% Aug-14 4.2% 75.0% 66.7% 4.5% 17.6% Graph Commentary The median price trend continues to ease, although the days to sell trend has now improved to steady. The volume trend is now improving with the overall trend now steady. Taranaki Region Median Price Taranaki Region Sales Volumes Source: REINZ Taranaki Median Price 12 month MA Source: REINZ Taranaki Volumes 12 month MA Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Sep-10 Jun-15 Mar-15 Dec-14 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 0 Mar-13 $225,000 Jun-12 50 Sep-12 $250,000 Mar-12 100 Sep-11 $275,000 Dec-11 150 Jun-11 $300,000 Dec-10 200 Mar-11 $325,000 Sep-10 250 Mar-11 Past 5 Years $350,000 Dec-10 Past 5 Years REINZ Wellington Region Analysis for August 2015 Commentary Price  Wellington Region Trends The median price for the Wellington region rose $6,800 (+2%) compared to July, with prices rising 17% Central Wellington, 13% in Northern Wellington and 7% in Southern Wellington. Compared to August 2014 the median price rose $5,050 (+1%) with prices rising 20% in Northern Wellington and 8% in Upper Hutt. Compared to August 2014 sales volumes rose 29% across the region, with sales up 65% in Upper Hutt, 36% in Eastern Wellington and 30% in Hutt Valley. Compared to July sales volumes fell 4%, with sales rising 3% in Upper Hutt, steady in Southern Wellington and falling across the rest of the region. The number of days to sell improved by six days compared to July, from 44 days in July to 38 days in August. Compared to August 2014 the number of days to sell improved by three days. Over the past 10 years the median number of days to sell across the region in August has averaged 39 days. Euon Murrell REINZ Regional Director noted that “ The market has started to see an increase in activity in both sales and with new listings coming on. Demand for apartments from Investors is still evident. First Home buyers remains steady “ Graph Commentary The trend in the median price continues to ease, although the volume trend is now improving. The days to sell trend is now also easing with the overall trend for the Wellington region now steady. Aug-15 $377,000 $335,000 $550,000 $481,500 $510,600 $589,000 $530,500 $432,500 $402,550 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price Jul-15 $374,000 $379,168 $488,500 $410,000 $516,000 $580,000 $495,000 $421,000 $395,750 Vs… Aug-14 $348,000 $330,000 $460,000 $469,250 $631,500 $630,000 $539,500 $415,000 $397,500 Jul-15 0.8% -11.6% 12.6% 17.4% -1.0% 1.6% 7.2% 2.7% 1.7% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes  Aug-15 81 139 65 68 30 27 30 71 672 Aug-14 8.3% 1.5% 19.6% 2.6% -19.1% -6.5% -1.7% 4.2% 1.3% Days to Sell  Volume Sold Jul-15 79 146 70 75 33 31 30 79 697 Vs… Aug-14 49 107 60 54 22 26 26 65 522 Jul-15 2.5% -4.8% -7.1% -9.3% -9.1% -12.9% 0.0% -10.1% -3.6% Wellington Region Median Price Wellington Region Sales Volumes Past 5 Years Past 5 Years Aug-14 65.3% 29.9% 8.3% 25.9% 36.4% 3.8% 15.4% 9.2% 28.7% Source: REINZ 12 month MA Source: REINZ 12 month MA Jun-15 Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Wellington Volumes Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Wellington Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 Sep-10 $350,000 Dec-11 $375,000 Jun-11 $400,000 Mar-11 $425,000 Sep-10 1,000 900 800 700 600 500 400 300 200 100 0 Dec-10 $450,000 Overall  REINZ Nelson/Marlborough Region Analysis for August 2015 Commentary Price  Nelson/Marlborough Region Trends The median price across the region rose $25,000 (+7%) compared to August 2014 to reach a new record. Prices rose 12% in Nelson, 9% in Richmond and 3% in Marlborough/Kaikoura. Compared to July the median price rose by $10,000 (+3%) with prices rising 7% in Nelson and 2% in Richmond, but fell across the rest of the region. Sales volume compared to August 2014 rose 19%, with sales rising 34% in Marlborough/Kaikoura and in Nelson. Compared to July sales volumes fell by 9%, with sales rising 5% in Motueka but falling 7% in Nelson and 10% in Richmond. Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Aug-15 $420,000 $421,000 $334,000 $329,000 $385,000 Median Price Jul-15 $392,000 $413,000 $415,000 $335,000 $375,000 Vs… The number of days to sell eased by six days in August, from 36 days in July to 42 days in August. Compared to August 2014 the number of days to sell improved by 14 days. Over the past 10 years the median number of days to sell in August has averaged 44 days across the region. REINZ Chief Executive, Colleen Milne, noted that "Listings are in very short supply across the region, with buyers having to be well organised and quick to secure properties they are after. Both first home buyers and investors are active, with an increasing level of interest coming from outside the region from buyers with longer term plans to move." Aug-14 $373,750 $387,500 $330,000 $320,000 $360,000 Jul-15 7.1% 1.9% -19.5% -1.8% 2.7% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes  Aug-15 83 26 21 82 231 Aug-14 12.4% 8.6% 1.2% 2.8% 6.9% Days to Sell  Volume Sold Jul-15 89 29 20 105 254 Vs… Overall  Aug-14 62 24 25 61 194 Jul-15 -6.7% -10.3% 5.0% -21.9% -9.1% Aug-14 33.9% 8.3% -16.0% 34.4% 19.1% Graph Commentary The price trend for the region is now easing, with the sales volume trend now steady. The days to sell trend is now improving, with the overall trend for the region improving from easing to steady. Nelson/Marlborough Region Median Price Nelson/Marlborough Region Sales Volumes Past 5 Years Past 5 Years $400,000 350 300 $375,000 250 $350,000 200 $325,000 150 100 $300,000 50 Source: REINZ Nelson/Marlborough Median Price Source: REINZ Nelson/Marlborough Volumes Jun-15 Dec-14 Mar-15 Jun-14 12 month MA Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-15 Dec-14 Mar-15 Jun-14 12 month MA Sep-14 Dec-13 Mar-14 Jun-13 Sep-13 Mar-13 Dec-12 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 0 Sep-10 $275,000 REINZ Canterbury/Westland Region Analysis for August 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 16% compared to August 2014, with sales rising 280% In West Coast, 68% in Sth Canterbury and 45% in Rangiora. Compared to July sales volume fell 6%, with sales volumes rising 112% in West Coast and 14% in Rangiora, but falling across the rest of the region. The median price rose $12,000 (+3%) compared to August 2014, with prices rising 26% in Sth Canterbury, 11% in Rangiora and 10% in Nth Canterbury. Compared to July the median price fell $3,000 (-1%) with prices rising 35% in West Coast, 26% in Sth Canterbury and 4% in Nth Canterbury. REINZ Regional Director, Jim Davis, commented that, "The Christchurch market and thus the wider Canterbury market is well balanced at the moment, with good levels of stock available and a steady stream of new homes becoming available. Demand is steady and prices are now starting to reflect this new reality across the region." The number of days to sell improved by two days in August, from 32 days in July to 30 days in August. Compared to August 2014 the number of days to sell improved by one day. Over the past 10 years the average number of days to sell in August across the region has been 34 days. Graph Commentary The median price trend is now easing, with the sales volume trend also easing. The days to sell trend is now easing. The overall trend for the region is now easing. Aug-15 $430,000 $431,625 $403,000 $310,000 $296,000 $290,000 $202,500 $412,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Median Price Jul-15 $430,000 $445,000 $389,000 $331,250 $328,000 $231,000 $150,000 $415,000 Vs… Volumes  Aug-14 $421,500 $388,000 $365,000 $305,000 $295,000 $230,000 $195,000 $400,000 Jul-15 0.0% -3.0% 3.6% -6.4% -9.8% 25.5% 35.0% -0.7% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Canterbury/Westland Region Median Price Price  Aug-14 2.0% 11.2% 10.4% 1.6% 0.3% 26.1% 3.8% 3.0% Aug-15 535 42 34 45 47 42 36 863 Days to Sell  Volume Sold Jul-15 574 37 35 48 55 46 17 921 Vs… Overall  Aug-14 485 29 28 33 53 25 10 742 Jul-15 -6.8% 13.5% -2.9% -6.3% -14.5% -8.7% 111.8% -6.3% Aug-14 10.3% 44.8% 21.4% 36.4% -11.3% 68.0% 260.0% 16.3% Canterbury/Westland Region Sales Volumes Past 5 Years Past 5 Years $440,000 1,400 $420,000 1,200 $400,000 1,000 $380,000 800 $360,000 Source: REINZ Canterbury/Westland Median Price Source: REINZ Canterbury/Westland Volumes 12 month MA Jun-15 Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Jun-15 Mar-15 Dec-14 Jun-14 12 month MA Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 0 Dec-11 $280,000 Jun-11 200 Dec-10 $300,000 Mar-11 400 Sep-10 $320,000 Dec-10 600 $340,000 REINZ Central Otago Lakes Region Analysis for August 2015 Commentary Price  Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 17% compared to August 2014, with sales rising 28% in Central and by 3% in Queenstown. Compared to July, sale volumes fell 26%, with volumes falling 14% in Central and 40% in Queenstown. The median price across the region rose $37,000 (+9%) compared to August 2014, with prices rising 27% on Central and 1% in Queenstown. Compared to July, the median price fell $37,500 (-8%) with prices rising 5% in Central but falling 16% in Queenstown. The number of days to sell improved by 10 days compared to July, from 49 days in July to 39 days in August. Compared to August 2014 the number of days to sell improved by nine days. Over the past 10 years the average number of days to sell in August across the region has been 62 days. Aug-15 $426,500 $553,250 $462,500 Central Queenstown Central Otago Lakes Volumes  Days to Sell  Volume Sold Aug-15 Jul-15 68 79 40 67 108 146 Median Price Jul-15 Aug-14 $405,000 $335,000 $655,000 $550,000 $500,000 $425,500 Vs… Jul-15 5.3% -15.5% -7.5% Central Queenstown Central Otago Lakes Aug-14 27.3% 0.6% 8.7% Vs… Overall  Aug-14 53 39 92 Jul-15 -13.9% -40.3% -26.0% Aug-14 28.3% 2.6% 17.4% REINZ Chief Executive, Colleen Milne, commented that "First home buyers are very active with the new subdivisions near Queenstown with low interest rates helping with buyer confidence. The auction market is very busy with most auctions well attended and prices being achieved above expectation." Graph Commentary The median price trend continues to improve, however, the volume trend has moved from steady to rising and the days to sell trend has moved from steady to improving. The overall trend for the region is now improving. Central Otago Lakes Region Median Price Central Otago Lakes Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ Central Otago Lakes Median Price Source: REINZ Central Otago Lakes Volumes Jun-15 Dec-14 Mar-15 Jun-14 12 month MA Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Jun-15 Mar-15 Dec-14 Jun-14 12 month MA Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 Sep-10 $375,000 Dec-11 $425,000 Jun-11 $475,000 Mar-11 $525,000 Sep-10 180 160 140 120 100 80 60 40 20 0 Dec-10 $575,000 REINZ Otago Region Analysis for August 2015 Commentary Otago Region Trends The median price across Otago rose $19,506 (+8%) compared with August 2014 with prices rising 7% in Dunedin, but falling across the rest of the region. Compared to July the median price rose by $5,506 (+2%) with prices rising 5% in Dunedin, but falling across the rest of the region. Sale volumes across the region rose 52% compared to August 2014 with sales rising 78% in South Otago, 54% in Dunedin and 30% in North Otago. Compared to July sales volumes rose 24%, with sales rising 59% in North Otago, 24% in Dunedin, but falling 16% in South Otago. Aug-15 $300,000 $194,500 $152,000 $272,506 Dunedin North Otago South Otago Otago Price  Median Price Jul-15 $285,000 $200,000 $178,000 $267,000 Vs… The number of days to sell in Otago improved by four days in August, from 33 days in July to 29 days in August. Compared to August 2014 the number of days to sell improved by six days. Over the past 10 years the number of days to sell in August for the Otago region has been 39 days. Aug-14 $280,000 $212,500 $155,000 $253,000 Jul-15 5.3% -2.8% -14.6% 2.1% Dunedin North Otago South Otago Otago Volumes  Aug-15 192 43 16 257 Aug-14 7.1% -8.5% -1.9% 7.7% Days to Sell  Volume Sold Jul-15 155 27 19 207 Vs… Overall  Aug-14 125 33 9 169 Jul-15 23.9% 59.3% -15.8% 24.2% Aug-14 53.6% 30.3% 77.8% 52.1% REINZ Chief Executive, Colleen Milne, commented that, "Investors from Auckland are starting to buy in Dunedin in noticeable numbers, with the overall number of investors active in the market well up on last year. First home buyers are also increasingly active, and with strong sales growth the availability of listings is getting very tight." Graph Commentary The trend in the median price is now steady, with the trend in sales volume now rising, The trend in days to sell is also now improving, with the overall trend for the region now improving. Otago Region Median Price Otago Region Sales Volumes Past 5 Years Past 5 Years $300,000 400 350 $275,000 300 250 $250,000 200 150 $225,000 100 50 Source: REINZ 12 month MA Source: REINZ Otago Volumes 12 month MA Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-15 Mar-15 Dec-14 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Otago Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 0 Sep-10 $200,000 REINZ Southland Region Analysis for August 2015 Commentary Southland Region Trends The median price across Southland fell $10,000 (-5%) compared to July, with a prices falling 5% in Invercargill and 9% in Gore. Compared to August 2014 the median price fell $13,250 (-7%) with prices falling 10% in Invercargill and 19% in Gore. Aug-15 $190,000 $161,000 $187,750 Invercargill Gore Southland Sales volumes rose 42% compared to August 2014, with a 163% increase in Gore and a 48% increase in Invercargill. Compared to July sales volumes fell 5% with a 6% increase in Invercargill, but a 22% fall in Gore. The number of days to sell in Southland improved by nine days compared to July, from 49 days in July to 40 days in August. Compared to August 2014 the number of days to sell improved by five days. Over the past 10 years the number of days to sell in August for the Southland region has been 40 days. Price  Volumes  Days to Sell  Volume Sold Aug-15 Jul-15 117 110 21 27 156 164 Median Price Jul-15 Aug-14 $200,000 $212,000 $177,100 $199,500 $197,750 $201,000 Vs… Jul-15 -5.0% -9.1% -5.1% Invercargill Gore Southland Aug-14 -10.4% -19.3% -6.6% Vs… Overall  Aug-14 79 8 110 Jul-15 6.4% -22.2% -4.9% Aug-14 48.1% 162.5% 41.8% REINZ Chief Executive, Colleen Milne, commented that "the Southland market has been steady through the latter part of winter with a slight decline in sales volume and prices as one might expect coming into Spring." Graph Commentary The median price trend is now improving , while the sales trend continues to ease. The days to sell trend is now easing, with the overall trend for the region moving from easing to steady. Southland Region Median Price Southland Region Sales Volumes Past 5 Years Past 5 Years $250,000 250 200 $225,000 150 $200,000 100 $175,000 50 Source: REINZ 12 month MA Source: REINZ Southland Volumes 12 month MA Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Sep-13 Dec-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-15 Dec-14 Mar-15 Jun-14 Sep-14 Mar-14 Dec-13 Jun-13 Sep-13 Dec-12 Southland Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Dec-10 Mar-11 0 Sep-10 $150,000