REINZ Auckland Region Analysis for October 2015 The number of days to sell eased by two days in October, from 29 days in September to 31 days in October. Compared to October 2014, the number of days to sell was steady at 31 days. Over the past 10 years the average number of days to sell during October for Auckland has been 32 days. North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Median Price Sep-15 $958,000 $727,500 $850,000 $733,500 $795,000 $815,000 $635,000 $771,000 Oct-14 $762,000 $578,500 $750,000 $600,000 $665,000 $603,000 $518,000 $640,500 Sep-15 -4.0% -3.1% 0.0% -2.9% -1.9% -9.4% -2.4% -3.0% Oct-14 20.7% 21.9% 13.3% 18.8% 17.3% 22.4% 19.7% 16.8% Vs… REINZ Chief Executive, Colleen Milne noted that, "The drop in the number of sales in Auckland in October has been linked to the absence of buyers following the introduction of new IRD and bank account rules, however, the market has run harder that usual through the winter, thus a settling period is not unexpected." Graph Commentary The trend in the median price continues to rise, with the volume trend now also rising . The days to sell trend is also continuing to improve. The overall trend for the region is now rising, with Auckland the strongest property market in the country. North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Oct-14 -3.6% 17.2% 3.8% -13.0% 0.8% 10.3% 21.8% 3.6% Auckland Median Price 12 month MA Source: REINZ Auckland Volumes 12 month MA Aug-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 Feb-11 Nov-10 Aug-15 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Aug-13 Nov-13 Feb-13 0 May-13 500 $400,000 Aug-12 1,000 $450,000 Nov-12 1,500 $500,000 May-12 2,000 $550,000 Feb-12 2,500 $600,000 Aug-11 3,000 $650,000 Nov-11 3,500 May-11 Past 5 Years $700,000 Feb-11 Sep-15 -18.3% -18.2% -20.2% -26.6% -21.6% -13.8% -5.0% -19.4% Vs… Auckland Region Sales Volumes 4,000 May-11 Oct-14 445 296 773 529 2,126 175 331 2,457 Past 5 Years $750,000 Nov-10 Volume Sold Sep-15 525 424 1,005 627 2,734 224 424 3,158 Auckland Region Median Price $800,000 Source: REINZ Oct-15 429 347 802 460 2,143 193 403 2,546 Overall Aug-15 Compared to Oct 2014 the median price increased by $107,750 (+17%), with prices increasing 22% in Rodney, 22% in Waitakere and 21% in North Shore. The region's median price fell $22,750 (-3%) after reaching a record high in September, with prices falling 9% in Rodney, 4% in North Shore and 3% in Waitakere and Manukau. Oct-15 $920,000 $705,000 $850,000 $712,500 $780,000 $738,000 $620,000 $748,250 Days to Sell Feb-15 Sales volume in the Auckland region rose 4% compared to Oct 2014, with strongest sales growth in Outer Auckland (+22%), Waitakere (+17%) and Rodney (+10%). Compared to September sales fell 19% across the region, pulling back across the region after a very strong run through winter and early spring. Volumes May-15 Price Auckland Region Trends Nov-14 Commentary REINZ Northland Region Analysis for October 2015 Commentary Price Northland Region Trends Sales volume in Northland rose by 49% compared to October 2014, with increase in Whangarei County (+155%), Otamatea Count (+35%) and Kerikeri (+14%). Compared to September, sales volumes fell 1% across the region, with a 51% increase in Whangarei County offsetting falls in Whangarei City (-7%), Otamatea Country (-8%) and Kerikeri (-9%). The median price across the region rose by $55,000 (+18%) compared to October 2014, with prices rising 18% in Kerikeri and 15% in Whangarei City and Whangarei County. Compared to September, the median price rose $22,000 (+7%) with prices rising 9% in Whangarei City, steady in Kerikeri and falling across the rest of the region. The number of days to sell eased by three days in October, from 43 days in September to 46 days in October. The number of days to sell improved by five days compared to October 2014. Over the past 10 years the average number of days to sell during October for Northland has been 51 days. REINZ Chief Executive, Colleen Milne noted that, "Sales growth continues to be very strong on an annual basis, with growth spread across the region. Demand in the Bay of Islands has cooled somewhat, although prices have continued to strengthen. Listings remain in short supply across the region." Oct-15 $315,000 $480,000 $390,000 $495,000 $360,000 Whangarei City Whangarei County Otamatea County Kerikeri Northland Volumes Median Price Sep-15 $290,000 $545,000 $440,000 $495,000 $338,000 Oct-14 $273,000 $417,500 $362,000 $421,000 $305,000 Sep-15 8.6% -11.9% -11.4% 0.0% 6.5% Oct-14 15.4% 15.0% 7.7% 17.6% 18.0% Vs… Whangarei City Whangarei County Otamatea County Kerikeri Northland Days to Sell Overall Volume Sold Sep-15 85 91 56 37 23 25 32 35 261 263 Oct-15 Vs… Oct-14 77 22 17 28 175 Sep-15 -6.6% 51.4% -8.0% -8.6% -0.8% Oct-14 10.4% 154.5% 35.3% 14.3% 49.1% Graph Commentary The trend in median price is now improving, with the trend in sales volume continuing to rise. The days to sell trend is also now rising, with the overall trend for the region now rising. Northland Region Median Price Northland Region Sales Volumes Source: REINZ 12 month MA Source: REINZ Northland Volumes 12 month MA Aug-15 Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 Nov-10 Aug-15 May-15 Feb-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 Feb-13 Northland Median Price May-13 0 Aug-12 50 $230,000 Nov-12 $255,000 May-12 100 Feb-12 $280,000 Aug-11 150 Nov-11 $305,000 Feb-11 200 May-11 250 $330,000 Nov-10 $355,000 May-11 Past 5 Years 300 Feb-11 Past 5 Years $380,000 REINZ Waikato/Bay of Plenty Region Analysis for October 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to October 2014 rose 54%, with sales in Eastern BOP Country rising 87%, Mt Maunganui/Papamoa rising 81%, and Rotorua 71%. Compared to September, sales across the region fell 6%, with sales rising 24% in Rotorua, 19% in Tauranga and 11% in Mt Maunganui/ Papamoa but falling across the rest of the region. The median price across the region rose $38,250 (+11%) compared to October 2014. Prices rose 47% in Eastern BOP Country, 25% in Mt Maunganui/Papamoa and 22% in Hamilton and Tauranga. Compared to September the median price fell $10,000 (-3%), with prices rising 12% in Gisborne, 2% in Hamilton and 1% in Eastern BOP Country, but falling across the rest of the region. The number of days to sell was steady at 32 days in October compared to September. The number of days to sell improved by 10 days compared to October 2014. Over the past 10 years the average number of days to sell during October for the region has been 46 days. REINZ Regional Director, Philip Searle noted that "Demand across the region continues to be strong, with a number of cities seeing continued demand from Aucklanders as well as a more general lift in the number of buyers and prices. Demand in Hamilton has eased, after a significant build up through the winter, however, prices are holding. The shortage of listings in key cities remains a major problem for buyers as well." Graph Commentary The trend in median price is now steady, 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 continuing to improve. Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Oct-15 $435,000 $290,000 $470,000 $539,000 $246,000 $365,000 $257,000 $247,000 $380,000 Price Volumes Median Price Sep-15 $425,000 $290,000 $472,500 $582,000 $264,500 $395,000 $255,000 $220,000 $390,000 Oct-14 $356,900 $260,000 $386,000 $430,000 $275,000 $340,000 $175,000 $290,500 $341,750 Sep-15 2.4% 0.0% -0.5% -7.4% -7.0% -7.6% 0.8% 12.3% -2.6% Oct-14 21.9% 11.5% 21.8% 25.3% -10.5% 7.4% 46.9% -15.0% 11.2% Vs… Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Oct-15 375 299 192 157 159 55 73 45 1,525 Days to Sell Overall Volume Sold Sep-15 463 313 161 141 128 73 68 53 1,619 Oct-14 242 199 133 87 93 43 39 38 990 Sep-15 -19.0% -4.5% 19.3% 11.3% 24.2% -24.7% 7.4% -15.1% -5.8% Oct-14 55.0% 50.3% 44.4% 80.5% 71.0% 27.9% 87.2% 18.4% 54.0% Vs… Waikato/BOP Region Median Price Waikato/BOP Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ 12 month MA Source: REINZ Waikato/BOP Volumes 12 month MA Aug-15 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Aug-15 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Aug-13 Nov-13 Feb-13 Waikato/BOP Median Price May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 $300,000 Nov-11 $325,000 Aug-11 $350,000 Feb-11 $375,000 May-11 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Nov-10 $400,000 REINZ Hawkes Bay Region Analysis for October 2015 Commentary Price Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 52% compared to October 2014, with sales rising 63% in Hastings, 60% in Hawkes Bay Country and 47% in Napier and Dannevirke. Compared to September, sales volumes rose 10%, with sales rising 27% in Hastings, 22% in Dannevirke and 3% in Napier. The median price rose $25,500 (+9%) compared to September, with prices rising 21% in Hastings, 10% in Hawkes Bay Country and 6% in Dannevirke. Compared to October 2014 the median price rose $14,500 (+5%) with prices rising 10% in Napier and 9% in Hastings but falling across the rest of the region. Oct-15 $330,000 $320,000 $311,000 $135,000 $304,500 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Median Price Sep-15 $337,500 $265,000 $282,500 $127,500 $279,000 Vs… The median days to sell for Hawkes Bay improved by three days compared to September, from 39 days in September to 36 days in October. The number of days to sell improved by 16 days compared to October 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in October has been 44 days. REINZ Chief Executive, Colleen Milne noted that, "The property market in the Hawkes Bay region is becoming more active with year-on-year sales growth across the region being very robust. Both first home buyers and investors are active in the market, with shortages of listings emerging in key price points." Oct-14 $301,500 $294,000 $365,000 $150,000 $290,000 Sep-15 -2.2% 20.8% 10.1% 5.9% 9.1% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes Oct-15 116 111 24 22 290 Oct-14 9.5% 8.8% -14.8% -10.0% 5.0% Days to Sell Overall Volume Sold Sep-15 112 87 24 18 263 Oct-14 79 68 15 15 191 Vs… Sep-15 3.6% 27.6% 0.0% 22.2% 10.3% Oct-14 46.8% 63.2% 60.0% 46.7% 51.8% Graph Commentary The median price trend continues to ease, although the sales volume trend continues to rise. The days to sell trend is now also rising, with the overall trend for the region continuing to improve. 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 Aug-15 Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-15 May-15 Feb-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 Feb-13 Hawkes Bay Median Price May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 0 Nov-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for October 2015 Commentary Price Manawatu/Wanganui Region Trends Sales volumes rose 19% compared to October 2014, with sales rising 38% in Manawatu Country, 32% in Palmerston North and 25% in Levin. Compared to September sales volumes increased 2%, with sales rising 48% in Manawatu Country, 4% in Palmerston North and 2% in Wanganui, but falling across the rest of the region. The median price across the region rose $13,500 (+6%) compared to October 2014 to reach a new record high. Prices rose 5% in Levin and Wanganui, but fell across the rest of the region. Compared to September the median price rose $10,000 (+4%), with prices rising 4% in Wanganui, but falling across the rest of the region. The number of days to sell improved by seven days compared to September, from 38 days in September to 31 days in October. Compared to October 2014 the number of days to sell improved by 11 days. Over the past 10 years the median number of days to sell across the Manawatu/Wanganui region in October has averaged 42 days. REINZ Chief Executive, Colleen Milne noted that, "First home buyers are very active at the lower end of the market, with a noticeable 'trading up' trend emerging across the region. The increase in demand and lack of listings at the lower end of the market is creating problems for buyers and a sellers market is emerging." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Oct-15 $295,000 $254,000 $185,000 $199,750 $168,250 $250,000 Median Price Sep-15 $320,000 $275,125 $193,250 $269,000 $162,000 $240,000 Oct-14 $310,000 $263,500 $176,000 $225,000 $160,000 $236,500 Sep-15 -7.8% -7.7% -4.3% -25.7% 3.9% 4.2% Oct-14 -4.8% -3.6% 5.1% -11.2% 5.2% 5.7% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes Oct-15 133 33 35 40 58 322 Days to Sell Overall Volume Sold Sep-15 128 35 43 27 57 317 Oct-14 101 32 28 29 51 270 Vs… Sep-15 3.9% -5.7% -18.6% 48.1% 1.8% 1.6% Oct-14 31.7% 3.1% 25.0% 37.9% 13.7% 19.3% Graph Commentary The median price trend is now easing, with the volume trend continuing to rise. The days to sell trend is now also rising. The overall trend for the region is now improving. 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 Aug-15 Feb-15 May-15 Aug-14 12 month MA Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-15 May-15 Feb-15 Aug-14 12 month MA Nov-14 Feb-14 May-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 0 Nov-10 $175,000 REINZ Taranaki Region Analysis for October 2015 Commentary Price Taranaki Region Trends Sales volume for the Taranaki region rose 9% compared to October 2014 with sales up 88% in Hawera and 7% in New Plymouth. Compared to September sales volumes rose by 2% with sales up 20% in Taranaki Country and 3% in Hawera, but falling across the rest of the region. The median price across the region increased by $33,000 (+12%) compared to October 2014, with prices up 16% in New Plymouth and 6% in Bell Block. Compared to September the median price rose $8,000 (+3%) with prices rising 1% in New Plymouth, but falling across the rest of the region. The number of days to sell improved by 17 days compared to September, from 44 days in September to 27 days in October; the shortest number of days to sell since September 2006. Compared to October 2014 the number of days to sell improved by 12 days. Over the past 10 years the median number of days to sell across the region in October has averaged 43 days. REINZ Chief Executive, Colleen Milne noted that "Compared to other regional North Island markets, the Taranaki market is steady rather than seeing strong demand emerging from either investors or first home buyers. The rate of increase in the number of sales is comparatively modest, as is the increase in prices." Oct-15 $380,000 $185,000 $407,000 $224,000 $313,000 New Plymouth Taranaki Country Bell Block Hawera Taranaki Median Price Sep-15 $375,000 $265,000 $434,000 $249,000 $305,000 Vs… Oct-14 $327,500 $203,500 $385,000 $238,500 $280,000 Sep-15 1.3% -30.2% -6.2% -10.0% 2.6% New Plymouth Taranaki Country Bell Block Hawera Taranaki Volumes Oct-15 80 24 7 30 172 Oct-14 16.0% -9.1% 5.7% -6.1% 11.8% Days to Sell Overall Volume Sold Sep-15 81 20 8 29 169 Oct-14 75 30 11 16 158 Vs… Sep-15 -1.2% 20.0% -12.5% 3.4% 1.8% Oct-14 6.7% -20.0% -36.4% 87.5% 8.9% Source: REINZ Taranaki Median Price 12 month MA Source: REINZ Taranaki Volumes 12 month MA Aug-15 Feb-15 May-15 Aug-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Nov-10 Aug-15 May-15 Feb-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 0 Feb-13 $225,000 May-13 50 Aug-12 $250,000 Nov-12 100 May-12 $275,000 Feb-12 150 Aug-11 $300,000 Nov-11 200 Feb-11 $325,000 May-11 250 Nov-10 $350,000 Aug-11 Past 5 Years May-11 Taranaki Region Sales Volumes Past 5 Years Feb-11 Taranaki Region Median Price Nov-14 Graph Commentary The median price trend is now easing, although the volume trend is now improving while the days to sell trend is also improving. The overall trend continues to be steady. REINZ Wellington Region Analysis for October 2015 Commentary Price Wellington Region Trends The median price for the Wellington region rose $20,000 (+5%) compared to October 2014 to reach a new record high. Prices rose 15% Hutt Valley, 10% in Eastern Wellington and 6% in Southern Wellington. Compared to September the median price rose $14,125 (+3%) with prices rising 5% in Upper Hutt and 3% in Hutt Valley. Compared to October 2014 sales volumes rose 16% across the region, with sales up 70% in Central Wellington, 43% in Southern Wellington and 27% in Pukerua Bay/Tawa and Western Wellington. Compared to September sales volumes rose 12%, with sales rising 48% in Central Wellington, 40% in Eastern Wellington and 31% in Western Wellington. The number of days to sell improved by four days compared to September, from 32 days in September to 28 days in October. Compared to October 2014 the number of days to sell improved by four days. Over the past 10 years the median number of days to sell across the region in October has averaged 32 days. REINZ Regional Director Euon Murrell noted that "Demand continues to be robust in the Wellington urban areas with sales very strong in Central and Southern Wellington. The new record median price is also indicative of the shortage of listings that has emerged in some parts of the region." 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 steady with the overall trend for the Wellington region also steady. Oct-15 $345,000 $405,000 $520,800 $450,000 $611,750 $627,000 $550,500 $447,000 $427,500 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price Sep-15 $328,000 $393,500 $580,500 $490,000 $674,750 $650,000 $572,500 $444,250 $413,375 Vs… Wellington Region Median Price Oct-14 $342,600 $351,250 $505,185 $534,500 $557,000 $624,000 $520,000 $424,300 $407,500 Sep-15 5.2% 2.9% -10.3% -8.2% -9.3% -3.5% -3.8% 0.6% 3.4% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes Oct-15 59 161 69 95 42 47 50 89 804 Oct-14 0.7% 15.3% 3.1% -15.8% 9.8% 0.5% 5.9% 5.3% 4.9% Days to Sell Overall Volume Sold Sep-15 69 150 59 64 30 36 40 82 720 Oct-14 66 142 69 56 46 37 35 70 693 Vs… Sep-15 -14.5% 7.3% 16.9% 48.4% 40.0% 30.6% 25.0% 8.5% 11.7% Oct-14 -10.6% 13.4% 0.0% 69.6% -8.7% 27.0% 42.9% 27.1% 16.0% Wellington Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ 12 month MA Source: REINZ Wellington Volumes 12 month MA Aug-15 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Aug-15 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Aug-13 Nov-13 Feb-13 Wellington Median Price May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 $350,000 Nov-11 $375,000 Aug-11 $400,000 Feb-11 $425,000 May-11 1,000 900 800 700 600 500 400 300 200 100 0 Nov-10 $450,000 REINZ Nelson/Marlborough Region Analysis for October 2015 Commentary Price Nelson/Marlborough Region Trends The median price across the region rose $29,000 (+8%) compared to October 2014 to reach a new record high. Prices rose 33% in Motueka, 9% in Richmond and 4% in Nelson. Compared to September the median price rose by $20,000 (+5%) with prices rising 14% in Motueka , 6% in Marlborough/Kaikoura and 4% in Richmond. Sales volume compared to October 2014 rose 21%, with sales rising 70% in Richmond, 30% in Nelson and 24% Motueka. Compared to September sales volumes rose by 14%, with sales rising 36% in Richmond, 16% in Nelson and 6% in Marlborough/Kaikoura. Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Oct-15 $381,000 $480,750 $419,500 $339,000 $390,000 Median Price Sep-15 $380,000 $461,000 $367,500 $318,750 $370,000 Vs… The number of days to sell eased by two days in October, from 31 days in September to 33 days in October. Compared to October 2014 the number of days to sell improved by eight days. Over the past 10 years the median number of days to sell in October has averaged 36 days across the region. REINZ Chief Executive, Colleen Milne noted that "Activity in the $350,000 - $550,000 range has certainly increased with both first home buyers and investors. Listings remain a real problem across the region, and although there has been a spring influx of listings this has not been enough to keep up with demand." Oct-14 $366,000 $440,500 $315,000 $341,000 $361,000 Sep-15 0.3% 4.3% 14.1% 6.4% 5.4% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes Oct-15 101 34 26 95 278 Oct-14 4.1% 9.1% 33.2% -0.6% 8.0% Days to Sell Overall Volume Sold Sep-15 87 25 25 90 245 Oct-14 78 20 21 92 230 Vs… Sep-15 16.1% 36.0% 4.0% 5.6% 13.5% Oct-14 29.5% 70.0% 23.8% 3.3% 20.9% Graph Commentary The price trend for the region continues to ease, with the sales volume trend now improving. The days to sell trend is now rising, with the overall trend for the region continuing to be 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 Aug-15 Feb-15 May-15 Aug-14 12 month MA Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-15 Feb-15 May-15 Aug-14 12 month MA Nov-14 May-14 Feb-14 Aug-13 Nov-13 Feb-13 May-13 Nov-12 Aug-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 0 Nov-10 $275,000 REINZ Canterbury/Westland Region Analysis for October 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 15% compared to September, with sales rising 90% in Rangiora, 22% in Christchurch and 16% in Sth Canterbury. Compared to October 2014 sales volume rose 9%, with sales volumes 50% in Nth Canterbury, 25% in Sth Canterbury and 21% in Rangiora and West Coast. The median price rose $7,750 (+2%) compared to October 2014, with prices rising 2% in Nth Canterbury and 0.2% in Christchurch; prices across the rest of the region eased. Compared to September the median price was steady at $420,000 with prices rising 4% in Nth Canterbury and 0.5% in Sth Canterbury, but falling across the rest of the region. REINZ Regional Director, Jim Davis commented that, "The property market across the region remains strong but well balanced although pockets of demand are starting to emerge again. First home buyers are becoming more active, the “blue chip” inner city areas of Christchurch are continuing to attract strong attention and there has been an increase in available property sold on an 'as is' basis. Listings are also forthcoming as the weather improves into summer." The number of days to sell improved by one day in October, from 30 days in September to 29 days in October. Compared to October 2014 the number of days to sell was also steady at 29 days. Over the past 10 years the average number of days to sell in October across the region has been 31 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. Oct-15 $431,000 $421,500 $432,000 $293,500 $268,000 $239,250 $140,000 $420,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Median Price Sep-15 $444,000 $467,500 $415,000 $308,500 $309,500 $238,000 $193,500 $420,000 Vs… Price Oct-14 $430,000 $425,000 $424,500 $298,000 $298,750 $251,000 $215,000 $412,250 Sep-15 -2.9% -9.8% 4.1% -4.9% -13.4% 0.5% -27.6% 0.0% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Volumes Oct-14 0.2% -0.8% 1.8% -1.5% -10.3% -4.7% -34.9% 1.9% Oct-15 665 34 33 42 47 50 23 990 Days to Sell Overall Volume Sold Sep-15 544 18 33 42 54 43 22 862 Oct-14 573 28 22 55 66 40 19 906 Vs… Sep-15 22.2% 88.9% 0.0% 0.0% -13.0% 16.3% 4.5% 14.8% Canterbury/Westland Region Median Price 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 Oct-14 16.1% 21.4% 50.0% -23.6% -28.8% 25.0% 21.1% 9.3% 800 $360,000 Source: REINZ Canterbury/Westland Median Price Source: REINZ Canterbury/Westland Volumes Aug-15 Feb-15 May-15 Aug-14 12 month MA Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 Feb-11 Nov-10 Aug-15 May-15 Feb-15 Aug-14 12 month MA Nov-14 Feb-14 May-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 0 Feb-11 200 $280,000 May-11 400 $300,000 Nov-10 $320,000 May-11 600 $340,000 REINZ Central Otago Lakes Region Analysis for October 2015 Commentary Price Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 50% compared to October 2014, with sales rising 64% in Central and by 35% in Queenstown. Compared to September, sale volumes rose 31%, with sales rising 27% in Queenstown and 34% in Central. The median price across the region fell $27,500 (-6%) compared to September, with prices rising 8% in Central, but falling 10% in Queenstown. Compared to October 2014, the median price fell $35,000 (-7%) with prices rising 11% in Queenstown but falling 9% in Central. The number of days to sell improved by 12 days compared to September, from 43 days in September to 31 days in October. Compared to October 2014 the number of days to sell improved by 20 days. Over the past 10 years the average number of days to sell in October across the region has been 53 days. Oct-15 $410,500 $624,500 $465,000 Central Queenstown Central Otago Lakes Volumes Median Price Sep-15 Oct-14 $380,000 $451,000 $690,000 $561,500 $492,500 $500,000 Vs… Sep-15 8.0% -9.5% -5.6% Central Queenstown Central Otago Lakes Oct-15 103 70 173 Oct-14 -9.0% 11.2% -7.0% Days to Sell Overall Volume Sold Sep-15 77 55 132 Oct-14 63 52 115 Vs… Sep-15 33.8% 27.3% 31.1% Oct-14 63.5% 34.6% 50.4% REINZ Chief Executive, Colleen Milne commented that "Demand remains strong across the region, with sales volumes up very strongly in October. Listings remain in short supply with agents having to compete hard to get the listings that are available; owners seem unsure of where the market is going next and are being cautious." Graph Commentary The median price trend is now steady, however, the volume trend has moved from improving to rising and the days to sell trend has moved from improving to rising. The overall trend for the region continues to improve. 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 Aug-15 Feb-15 May-15 Aug-14 12 month MA Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Aug-15 May-15 Feb-15 Aug-14 12 month MA Nov-14 Feb-14 May-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 $375,000 Nov-11 $425,000 Aug-11 $475,000 May-11 $525,000 Feb-11 200 180 160 140 120 100 80 60 40 20 0 Nov-10 $575,000 REINZ Otago Region Analysis for October 2015 Commentary Otago Region Trends The median price across Otago rose $27,000 (+11%) compared with October 2014. Prices rose 13% in North Otago, 13% in Dunedin and 9% in South Otago. Compared to September the median price fell by $10,000 (4%) with prices rising 23% in South Otago, but falling 1% in Dunedin and 3% in North Otago. Sale volumes across the region rose 11% compared to October 2014 with sales rising 30% in North Otago and 8% in Dunedin. Compared to September sales volumes rose 8%, with sales rising 37% in North Otago and 7% in Dunedin. The number of days to sell in Otago improved by three days in October, from 29 days in September to 26 days in October. It has been nine years since the number of days to sell was that low. Compared to September 2014 the number of days to sell improved by nine days. Oct-15 $289,000 $233,000 $166,000 $270,000 Dunedin North Otago South Otago Otago Price Median Price Sep-15 $292,300 $241,000 $135,000 $280,000 Vs… Oct-14 $257,000 $205,000 $152,000 $243,000 Sep-15 -1.1% -3.3% 23.0% -3.6% Dunedin North Otago South Otago Otago Volumes Oct-15 232 48 16 302 Oct-14 12.5% 13.7% 9.2% 11.1% Days to Sell Overall Volume Sold Sep-15 216 35 23 281 Oct-14 215 37 17 273 Vs… Sep-15 7.4% 37.1% -30.4% 7.5% Oct-14 7.9% 29.7% -5.9% 10.6% REINZ Chief Executive, Colleen Milne commented that, "There is continuing strong interest from Auckland based investors. First home buyers are also more active, with fear of rising prices spurring them to action. The number of listings has increased, although demand is also rising." 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 rising, 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 Aug-15 Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-15 May-15 Feb-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 Feb-13 Otago Median Price May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 0 Nov-10 $200,000 REINZ Southland Region Analysis for October 2015 Commentary Southland Region Trends The median price across Southland rose $17,500 (+9%) compared to October 2014, with a prices rising 30% in Gore and 8% in Invercargill. Compared to September the median price rose $9,500 (+5%) with prices rising 24% in Gore and 5% in Invercargill. Sales volumes rose 17% compared to October 2014, with a 37% increase in Gore and a 12% increase in Invercargill. Compared to September sales volumes rose 21% with a 73% increase in Gore and a 10% increase in Invercargill. The number of days to sell in Southland improved by five days compared to September, from 39 days in September to 34 days in October. Compared to October 2014 the number of days to sell eased by one day. Over the past 10 years the number of days to sell in October for the Southland region has been 31 days. Oct-15 $210,000 $192,500 $209,000 Invercargill Gore Southland Price Volumes Median Price Sep-15 Oct-14 $200,750 $194,500 $155,000 $148,000 $199,500 $191,500 Vs… Sep-15 4.6% 24.2% 4.8% Invercargill Gore Southland Oct-15 123 26 175 Oct-14 8.0% 30.1% 9.1% Days to Sell Overall Volume Sold Sep-15 112 15 145 Oct-14 110 19 150 Vs… Sep-15 9.8% 73.3% 20.7% Oct-14 11.8% 36.8% 16.7% REINZ Chief Executive, Colleen Milne commented that "The Southland market is continuing to see slow, but steady increases in the number of sales and median prices. The market remains well balanced with a good number of listings and steady interest from both first home buyers and investors." Graph Commentary The median price trend is now steady, while the sales trend is now improving. The days to sell trend is now also steady, with the overall trend for the region remaining 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 Aug-15 Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-15 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Aug-13 Nov-13 Feb-13 Southland Median Price May-13 Aug-12 Nov-12 May-12 Feb-12 Aug-11 Nov-11 Feb-11 May-11 0 Nov-10 $150,000