REINZ Auckland Region Analysis for February 2016

The number of days to sell improved by three days in February, from 39 days in January to 36 days in February.
Compared to February 2015, the number of days to sell eased by four days. Over the past 10 years the average number
of days to sell during February for Auckland has been 40 days.

North Shore City
Waitakere City
Auckland City
Manukau City
Metro Auckland
Rodney District
Outer Auckland
Auckland Region

Median Price
Jan-16
$870,000
$685,000
$790,000
$700,000
$750,000
$793,750
$630,000
$720,000

Feb-15
$875,000
$620,000
$753,000
$630,000
$705,000
$670,000
$556,000
$675,000

Jan-16
8.0%
-0.3%
4.4%
7.1%
4.7%
-4.3%
-1.6%
4.2%

Feb-15
7.4%
10.2%
9.6%
19.0%
11.3%
13.4%
11.5%
11.1%

Vs…
REINZ Chief Executive, Colleen Milne noted that, "The pull back in sales volumes has continued in February, with the
number of sales some 8% lower on a seasonally adjusted basis. Prices are remaining firm with the regional median price
trending around $750,000 over the past nine months."
Graph Commentary
The trend in the median price continues to rise, although the volume trend is now easing due to the decline in sales
volume since the middle of 2015 . The days to sell trend continues to ease. The overall trend for the region continues to
be steady.

North Shore City
Waitakere City
Auckland City
Manukau City
Metro Auckland
Rodney District
Outer Auckland
Auckland Region

Feb-15
-5.1%
-15.5%
-22.0%
-31.5%
-20.3%
-13.8%
-5.0%
-17.9%

Auckland Median Price

Source: REINZ

Auckland Volumes

Sep-14

12 month MA

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Dec-11

Jun-11

Mar-11

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

12 month MA

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

0
Sep-13

500

$400,000
Mar-13

1,000

$450,000
Sep-12

1,500

$500,000

Dec-12

2,000

$550,000

Jun-12

2,500

$600,000

Dec-11

3,000

$650,000

Mar-12

3,500

Sep-11

Past 5 Years

$700,000

Jun-11

Jan-16
32.9%
33.2%
35.2%
17.2%
28.2%
25.4%
21.1%
26.9%

Vs…

Auckland Region Sales Volumes
4,000

Sep-11

Feb-15
392
342
704
467
1,996
189
363
2,359

Past 5 Years
$750,000

Mar-11

Volume Sold
Jan-16
280
217
406
273
1,241
130
285
1,526

Auckland Region Median Price
$800,000

Source: REINZ

Feb-16
372
289
549
320
1,591
163
345
1,936

Overall

Dec-15

Compared to February 2015 the median price rose by $75,000 (+11%), with prices rising 19% in Manukau, 13% in Rodney
and 12% in Outer Auckland. The region's median price rose $30,000 (+4%) compared to January, with prices rising 8% in
North Shore and 7% in Manukau. On a seasonally adjusted basis the median price fell 1% compared to January.

Feb-16
$940,000
$683,000
$825,000
$749,500
$785,000
$760,000
$620,000
$750,000

Days to Sell

Jun-15

Sales volume in the Auckland region rose 27% compared to January, although on a seasonally adjusted basis sales fell
8%. The largest rises occurred in Auckland City (+35%), Waitakere and North Shore (+33%) each. Compared to February
2015 sales fell 18% across the region.

Volumes

Sep-15

Price

Auckland Region Trends

Mar-15

Commentary

 REINZ Northland Region Analysis for February 2016
Commentary

Price

Northland Region Trends

Sales volume in Northland rose by 20% compared to January, with increases in Otamatea County (+73%) and Whangarei
Country (+15%). Compared to February 2015, sales volumes rose 12% across the region, with a 18% rise in Whangarei
City and 7% in Whangarei County, with falls across the rest of the region.

The median price across the region rose by $22,500 (+7%) compared to February 2015, with prices rising 49% in
Otamatea County and 10% in Kerikeri. Compared to January, the median price rose $10,000 (+3%) with prices rising 26%
in Kerikeri and 13% in Otamatea County.

Feb-16
$325,000
$450,000
$505,250
$510,000
$350,000

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Median Price
Jan-16
$315,000
$448,500
$449,000
$405,500
$340,000

Feb-15
$306,500
$465,000
$339,250
$465,000
$327,500

Jan-16
3.2%
0.3%
12.5%
25.8%
2.9%

Feb-15
6.0%
-3.2%
48.9%
9.7%
6.9%

Vs…
The number of days to sell eased by eight days in February, from 47 days in January to 55 days in February. The number
of days to sell improved by 17 days compared to February 2015. Over the past 10 years the average number of days to
sell during February for Northland has been 72 days.
REINZ Chief Executive, Colleen Milne noted that, "Northland continues to benefit from the Auckland 'halo' effect, with
firming prices across the region and a steady upward trend in sales volumes. The inventory situation in Northland has
eased somewhat with the lift in new listings in February, however, compared to 12 months ago the number of listings is
very low."

Volumes

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Days to Sell

Overall

Volume Sold
Jan-16
85
75
30
26
26
15
14
24
229
191

Feb-16

Vs…

Feb-15
72
28
28
17
205

Jan-16
13.3%
15.4%
73.3%
-41.7%
19.9%

Feb-15
18.1%
7.1%
-7.1%
-17.6%
11.7%

Graph Commentary
The trend in median price has moved to 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 moving back to rising.

Northland Region Median Price

Northland Region Sales Volumes

Source: REINZ

12 month MA

Source: REINZ

Northland Volumes

12 month MA

Dec-15

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Mar-11

Sep-15

Dec-15

Jun-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

Jun-13

Northland Median Price

Sep-13

0
Mar-13

$230,000
Sep-12

50
Dec-12

$255,000
Jun-12

100

Dec-11

$280,000

Mar-12

150

Jun-11

200

$305,000

Sep-11

250

$330,000

Mar-11

$355,000

Dec-11

Past 5 Years
300

Jun-11

Past 5 Years
$380,000

 REINZ Waikato/Bay of Plenty Region Analysis for February 2016
Commentary

Waikato/Bay of Plenty Region Trends

Sales volumes compared to January rose 49%, with sales in Gisborne rising 132%, Taupo rising 106% and Waikato
Country rising 66%. Compared to February 2015 sales across the region rose 17% with sales rising 117% in Eastern BOP
Country, 91% in Gisborne and 60% in Taupo. On a seasonally adjusted basis sales fell 2.2% compared to January.

The median price across the region rose $57,500 (+17%) compared to February 2015. Prices rose 33% in Tauranga, 32%
in Mt Maunganui/Papamoa and 25% in Hamilton and Waikato Country. Compared to January the median price rose
$22,500 (+5.9%) to reach a new record high, with prices rising 13% in Hamilton, 12% in Tauranga and 9% in Rotorua. On
a seasonally adjusted basis the median price was steady compared to January.

The number of days to sell improved four days in February, from 40 days in January to 36 days in February. The number
of days to sell improved by 23 days compared to February 2015. Over the past 10 years the average number of days to
sell during February for the region has been 61 days.
REINZ Regional Director, Philip Searle noted that "Sales across the region were 'buoyant' in February after a slow start to
2016 with prices continuing to firm across the region. Demand for properties, sales volumes and prices are all lifting in
smaller centres as well as the larger cities across the region, with some centres, such as Taupo seeing very strong
demand in February. Listings remain in very short supply, with a drop of 45% in the number of properties available
compared to February last year. There has been a recent slight increase in the number of properties for sale, but supply
remains very tight "
Graph Commentary
The trend in median price has moved from steady to improving, with the trend in sales volume also rising. The days to
sell trend continues to rise, with the overall trend for the region moving from improving to rising.

Hamilton City
Waikato Country
Tauranga
Mt Maunganui/Papamoa
Rotorua
Taupo
Eastern BOP Country
Gisborne
Waikato/Bay of Plenty

Feb-16
$439,000
$325,000
$493,500
$585,000
$288,000
$390,000
$280,000
$212,500
$402,500

Price

Volumes

Median Price
Jan-16
$388,000
$309,000
$440,000
$580,000
$265,000
$370,000
$300,000
$270,000
$380,000

Feb-15
$352,000
$261,000
$370,000
$445,000
$240,000
$337,500
$321,000
$218,000
$345,000

Jan-16
13.1%
5.2%
12.2%
0.9%
8.7%
5.4%
-6.7%
-21.3%
5.9%

Feb-15
24.7%
24.5%
33.4%
31.5%
20.0%
15.6%
-12.8%
-2.5%
16.7%

Vs…
Hamilton City
Waikato Country
Tauranga
Mt Maunganui/Papamoa
Rotorua
Taupo
Eastern BOP Country
Gisborne
Waikato/Bay of Plenty

Feb-16
305
261
174
111
137
101
91
65
1,436

Days to Sell

Overall

Volume Sold
Jan-16
202
157
138
89
109
49
53
28
964

Feb-15
308
236
173
108
95
63
42
34
1,233

Jan-16
51.0%
66.2%
26.1%
24.7%
25.7%
106.1%
71.7%
132.1%
49.0%

Feb-15
-1.0%
10.6%
0.6%
2.8%
44.2%
60.3%
116.7%
91.2%
16.5%

Vs…

Waikato/BOP Region Median Price

Waikato/BOP Region Sales Volumes

Past 5 Years

Past 5 Years

Source: REINZ

Source: REINZ

Waikato/BOP Volumes

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

12 month MA

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

12 month MA

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

Waikato/BOP Median Price

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

Mar-11

$300,000

Jun-12

$325,000

Mar-12

$350,000

Dec-11

$375,000

Jun-11

$400,000

Sep-11

1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
Mar-11

$425,000

 REINZ Hawkes Bay Region Analysis for February 2016
Commentary

Price

Hawkes Bay Region Trends

Sales volumes in Hawkes Bay rose 53% compared to January, with sales rising 275% in Dannevirke, 75% in Hawkes Bay
Country and 47% in Napier. Compared to February 2015, sales volumes rose 35%, with sales rising 88% in Dannevirke,
50% in Hastings and 28% in Napier. On a seasonally adjusted basis sales rose 6% in February compared to January.
The median price rose $40,500 (+14%) compared to February 2015 to reach another new record median price. Prices
rose 34% in Hawkes Bay Country, 17% in Hastings and 9% in Dannevirke. Compared to January the median price rose
$13,000 (+4%) with prices rising 11% in Dannevirke, 6% in Hastings and 5% in Napier.

The median days to sell for Hawkes Bay improved by 19 days compared to January, from 50 days in January to 31 days in
February. This is the shortest number of days to sell for a February since 2004. The number of days to sell improved by
20 days compared to February 2015. Over the past 10 years the median number of days to sell for the Hawkes Bay
region in February has been 54 days.

REINZ Chief Executive, Colleen Milne noted that, "The Hawkes Bay region is seeing strong demand and a significant
upswing in the median price to reach another record high. The number of listings has declined by 60% over the past 12
months, with less than 15 weeks supply currently available. Anecdotal evidence suggests that Auckland buyers are
increasingly active in the region attracted by lower prices and better returns compared to Hamilton and Tauranga."

Feb-16
$345,000
$330,017
$227,500
$110,000
$330,000

Napier City
Hastings City
Hawkes Bay Country
Dannevirke
Hawkes Bay

Median Price
Jan-16
$330,000
$311,000
$326,500
$99,250
$317,000

Vs…

Feb-15
$325,000
$281,000
$170,000
$101,000
$289,500

Jan-16
4.5%
6.1%
-30.3%
10.8%
4.1%

Napier City
Hastings City
Hawkes Bay Country
Dannevirke
Hawkes Bay

Volumes

Feb-16
125
120
14
15
292

Feb-15
6.2%
17.4%
33.8%
8.9%
14.0%

Days to Sell

Overall

Volume Sold
Jan-16
85
89
8
4
191

Feb-15
98
80
17
8
216

Vs…

Jan-16
47.1%
34.8%
75.0%
275.0%
52.9%

Feb-15
27.6%
50.0%
-17.6%
87.5%
35.2%

Graph Commentary
The median price trend has moved from easing to steady, 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
$340,000

350
300

$315,000

250
200

$290,000

150
100

$265,000

50

Source: REINZ

12 month MA

Source: REINZ

Hawkes Bay Volumes

12 month MA

Dec-15

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-11

Mar-11

Sep-15

Dec-15

Jun-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

Jun-13

Hawkes Bay Median Price

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

0
Mar-11

$240,000

 REINZ Manawatu/Wanganui Region Analysis for February 2016
Commentary

Price

Manawatu/Wanganui Region Trends

Sales volumes rose 41% compared to January, with sales rising 44% in Palmerston North, 44% in Wanganui and 37% in
Feilding. Compared to February 2015 sales volumes rose 19%, with sales rising 44% in Manawatu Country and
Wanganui, 21% in Levin and 10% in Palmerston North.

The median price across the region rose $18,000 (+8%) compared to January with prices rising 9% in Levin and 1% in
Palmerston North. Compared to February 2015 the median price rose $6,000 (+3%), with prices rising 8% in Wanganui
and 1% in Palmerston North.

The number of days to sell was steady at 44 days in February compared to January. Compared to February 2015 the
number of days to sell improved by 21 days (3 weeks). Over the past 10 years the median number of days to sell across
the Manawatu/Wanganui region in February has averaged 56 days.

REINZ Chief Executive, Colleen Milne noted that, "The market in the Manawatu and Wanganui regions is certainly
performing better compared to a few months ago, with strong demand from first home buyers in the sub-$300,000
market. The lift in demand and prices, while not as large as other regions, is nevertheless indicative of the broadening
uplift being experienced across regional markets."

Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Feb-16
$295,000
$257,500
$174,250
$216,150
$162,000
$238,000

Median Price
Jan-16
$292,000
$263,000
$159,500
$250,000
$170,000
$220,000

Feb-15
$292,250
$285,000
$177,000
$215,000
$150,000
$232,000

Jan-16
1.0%
-2.1%
9.2%
-13.5%
-4.7%
8.2%

Feb-15
0.9%
-9.6%
-1.6%
0.5%
8.0%
2.6%

Vs…
Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Volumes

Feb-16
134
26
46
36
79
351

Days to Sell

Overall

Volume Sold
Jan-16
93
19
36
28
55
249

Feb-15
122
30
38
25
55
295

Vs…

Jan-16
44.1%
36.8%
27.8%
28.6%
43.6%
41.0%

Feb-15
9.8%
-13.3%
21.1%
44.0%
43.6%
19.0%

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

400
350

$250,000

300
250
200

$225,000

150
$200,000

100
50

Source: REINZ

Manawatu/Wanganui Median Price

Source: REINZ

Manawatu/Wanganui Volumes

Dec-15

Jun-15

Sep-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-11

Mar-11

Sep-15

Dec-15

Jun-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

Jun-13

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

0
Mar-11

$175,000

 REINZ Taranaki Region Analysis for February 2016
Commentary

Price

Taranaki Region Trends

Sales volume for the Taranaki region rose 32% compared to January with sales up 61% in New Plymouth, 58% in Hawera
and 52% in Taranaki Country. Compared to February 2015 sales volumes rose by 29% with sales down 124% in Taranaki
Country, 25% in Hawera and 24% in New Plymouth.
The median price across the region rose $12,500 (+4%) compared to February 2015, with prices up 13% in New Plymouth
and 3% in Hawera, but falling across the rest of the region. Compared to January the median price fell $7,000 (-2%) with
prices rising 10% in Taranaki Country and 5% in New Plymouth.

Feb-16
$420,210
$242,500
$464,000
$230,500
$328,000

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Median Price
Jan-16
$400,000
$220,000
$459,500
$225,000
$335,000

Vs…
The number of days to sell improved by four days compared to January, from 54 days in January to 50 days in February.
Compared to February 2015 the number of days to sell eased by two days. Over the past 10 years the median number of
days to sell across the region in February has averaged 51 days.

REINZ Chief Executive, Colleen Milne noted that "Strong buyer enquiry and activity is continuing in the Taranaki market
for properties in the lower and middle price brackets. As with other regional markets there as been a significant drop in
the number of listings and availability of properties for buyers to chose from. The Taranaki market has seen a 37% drop
in the number of listings over the past 12 months."

Feb-15
$373,000
$313,000
$504,500
$224,000
$315,500

Jan-16
5.1%
10.2%
1.0%
2.4%
-2.1%

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Volumes

Feb-16
82
38
13
30
181

Feb-15
12.7%
-22.5%
-8.0%
2.9%
4.0%

Days to Sell

Overall

Volume Sold
Jan-16
51
25
20
19
137

Feb-15
66
17
12
24
140

Vs…

Jan-16
60.8%
52.0%
-35.0%
57.9%
32.1%

Feb-15
24.2%
123.5%
8.3%
25.0%
29.3%

Source: REINZ

Taranaki Median Price

12 month MA

Source: REINZ

Taranaki Volumes

12 month MA

Dec-15

Jun-15

Sep-15

Dec-14

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Mar-11

Sep-15

Dec-15

Jun-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

0
Jun-13

$225,000
Sep-13

50

Mar-13

$250,000

Sep-12

100

Dec-12

$275,000

Jun-12

150

Dec-11

$300,000

Mar-12

200

Jun-11

$325,000

Sep-11

250

Mar-11

$350,000

Sep-11

Past 5 Years

Dec-11

Taranaki Region Sales Volumes

Past 5 Years

Jun-11

Taranaki Region Median Price

Mar-15

Graph Commentary
The median price trend continues to ease, although the volume trend is now rising while the days to sell trend is also
rising. The overall trend is now improving.

 REINZ Wellington Region Analysis for February 2016
Commentary

Price

Wellington Region Trends

The median price for the Wellington region rose $57,000 (+15%) compared to January to reach a new record high. Prices
rose 20% in Pukerua Bay/Tawa, 18% in Southern Wellington and 13% in Hutt Valley. Compared to February 2015 the
median price rose $41,000 (+10%) with prices rising 22% in Southern Wellington, 19% in Pukerua Bay/Tawa and 16% in
Northern Wellington. On a seasonally adjusted basis prices rose 4% compared to January.

Compared to January sales volumes rose 90% across the region, with January being particularly weak. Sales rose 195% in
Eastern Wellington, 175% in Pukerua Bay/Tawa and 150% in Southern Wellington. Compared to February 2015 sales
volumes rose 25%, with sales rising 58% in Southern Wellington, 51% in Eastern Wellington and 50% in Upper Hutt.

The number of days to sell improved by 13 days in February, from 41 days in January to 28 days in February. Compared
to February 2015 the number of days to sell improved by 25 days. Over the past 10 years the median number of days to
sell across the region in February has averaged 40 days.

REINZ Regional Director Euon Murrell noted that "The Wellington region returned to form in February with a significant
increase in the median price and lift in sales volumes to return the region towards its underlying trend. The number of
weeks of inventory is at an all time low with less than nine weeks of inventory recorded for February and the lowest level
of inventory in the country."
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 rising with the overall trend for the Wellington region remaining steady.

Feb-16
$366,500
$410,000
$555,555
$483,750
$645,500
$684,000
$658,000
$464,000
$451,000

Upper Hutt
Hutt Valley
Northern Wellington
Central Wellington
Eastern Wellington
Western Wellington
Southern Wellington
Pukerua Bay / Tawa
Wellington

Median Price
Jan-16
$366,500
$362,500
$540,000
$445,000
$650,000
$615,000
$559,750
$385,000
$394,000

Vs…

Wellington Region Median Price

Feb-15
$362,000
$380,250
$478,000
$417,500
$585,000
$617,250
$537,500
$389,500
$410,000

Jan-16
0.0%
13.1%
2.9%
8.7%
-0.7%
11.2%
17.6%
20.5%
14.5%

Upper Hutt
Hutt Valley
Northern Wellington
Central Wellington
Eastern Wellington
Western Wellington
Southern Wellington
Pukerua Bay / Tawa
Wellington

Volumes

Feb-16
88
189
79
88
62
56
60
102
936

Feb-15
1.2%
7.8%
16.2%
15.9%
10.3%
10.8%
22.4%
19.1%
10.0%

Days to Sell

Overall

Volume Sold
Jan-16
64
98
37
43
21
24
24
37
493

Feb-15
59
138
90
66
41
43
38
86
747

Vs…

Jan-16
37.5%
92.9%
113.5%
104.7%
195.2%
133.3%
150.0%
175.7%
89.9%

Feb-15
49.2%
37.0%
-12.2%
33.3%
51.2%
30.2%
57.9%
18.6%
25.3%

Wellington Region Sales Volumes

Past 5 Years

Past 5 Years

Source: REINZ

Source: REINZ

Wellington Volumes

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

12 month MA

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

12 month MA

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

Wellington Median Price

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

Mar-11

$360,000

Mar-12

$385,000

Dec-11

$410,000

Jun-11

$435,000

Sep-11

1,000
900
800
700
600
500
400
300
200
100
0
Mar-11

$460,000

 REINZ Nelson/Marlborough Region Analysis for February 2016
Commentary

Price

Nelson/Marlborough Region Trends

The median price across the region rose $33,900 (+9%) compared to February 2015 to reach a new record high, with
prices rising 23% in Richmond, 14% in Nelson and 13% in Motueka. Compared to January the median price rose $23,000
(+6%) with prices rising 19% in Richmond, 11% in Nelson and 7% in Motueka.

Sales volume compared to January rose 39%, with sales rising 95% in Richmond, 33% in Marlborough/Kaikoura and 32%
in Nelson. Compared to February 2015 sales volumes rose by 18%, with sales rising 93% in Motueka, 78% in Richmond
and 13% in Marlborough/Kaikoura.

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Feb-16
$420,000
$565,000
$397,000
$340,000
$398,000

Median Price
Jan-16
$380,250
$476,000
$372,000
$340,000
$375,000

Vs…
The number of days to sell improved by two days in February, from 38 days in January to 36 days in February. Compared
to February 2015 the number of days to sell improved by nine days. Over the past 10 years the median number of days
to sell in February has averaged 44 days across the region.

REINZ Chief Executive, Colleen Milne noted that "The tight listing situation across the region and continued buyer activity
is turning the top of the South Island into something of a buyers market, the number of sales by auction has increased
significantly over the past three months as vendors respond to rising demand. Given this situation, it is not surprising
that the region recorded a new record medium price in February."

Feb-15
$367,000
$460,000
$352,000
$330,000
$364,100

Jan-16
10.5%
18.7%
6.7%
0.0%
6.1%

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Volumes

Feb-16
95
41
29
117
305

Feb-15
14.4%
22.8%
12.8%
3.0%
9.3%

Days to Sell

Overall

Volume Sold
Jan-16
72
21
30
88
220

Feb-15
94
23
15
104
258

Vs…

Jan-16
31.9%
95.2%
-3.3%
33.0%
38.6%

Feb-15
1.1%
78.3%
93.3%
12.5%
18.2%

Graph Commentary
The price trend for the region has now improved to steady, although the sales volume trend has eased to steady as well.
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

$425,000

350

$400,000

300
250

$375,000

200
$350,000
150
$325,000

Source: REINZ

Nelson/Marlborough Median Price

12 month MA

Source: REINZ

Nelson/Marlborough Volumes

Dec-15

Jun-15

Sep-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Mar-11

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Dec-11

Mar-12

Jun-11

Sep-11

0
Mar-11

50

$275,000

Jun-11

100

$300,000

 REINZ Canterbury/Westland Region Analysis for February 2016
Commentary

Canterbury/Westland Region Trends

Sales volume across the region rose by 51% compared to January, with sales rising 105% in North Canterbury, 75% in
West Coast and 71% in Christchurch. Compared to February 2015 sales volume rose 9%, with sales volumes rising 33% in
Timaru and South Canterbury, 32% in North Canterbury and 11% in Christchurch.

The median price rose $16,500 (+4%) compared to February 2015 with prices rising 35% in West Coast, 17% in South
Canterbury and 10% in Timaru. Compared to January the median price fell $5,000 (-1%) with prices rising 10% in
Rangiora, 7% in Timaru and 3% in West Coast, but steady or falling across the rest of the region.

The number of days to sell eased by one day in February, from 40 days in January to 41 days in February. Compared to
February 2015 the number of days to sell also eased by five days. Over the past 10 years the average number of days to
sell in February across the region has been 41 days.

REINZ Regional Director, Jim Davis commented that, "In contrast to most regional markets, the Canterbury/Westland
region has seen very little movement in the levels of available inventory in the market compared to February last year.
This is reflected in the stability of the median price over the past several months and generally steady level of sales,
notwithstanding the leap from the usual January sales lull."
Graph Commentary
The median price trend is now easing, with the sales volume trend also easing. The days to sell trend is now falling. The
overall trend for the region continues to ease.

Feb-16
$440,000
$446,500
$393,000
$311,000
$325,000
$299,000
$243,000
$420,000

Christchurch
Rangiora
North Canterbury
Mid-Canterbury
Timaru
South Canterbury
West Coast
Canterbury/Westland

Median Price
Jan-16
$440,000
$405,000
$413,750
$314,500
$305,000
$311,250
$235,000
$425,000

Vs…

Price

Feb-15
$425,000
$445,000
$412,500
$308,500
$295,000
$255,000
$180,000
$403,500

Jan-16
0.0%
10.2%
-5.0%
-1.1%
6.6%
-3.9%
3.4%
-1.2%

Christchurch
Rangiora
North Canterbury
Mid-Canterbury
Timaru
South Canterbury
West Coast
Canterbury/Westland

Volumes

Feb-15
3.5%
0.3%
-4.7%
0.8%
10.2%
17.3%
35.0%
4.1%

Feb-16
645
32
45
38
57
37
21
967

Days to Sell

Overall

Volume Sold
Jan-16
378
29
22
34
53
34
12
640

Feb-15
581
33
34
46
43
55
23
888

Vs…

Jan-16
70.6%
10.3%
104.5%
11.8%
7.5%
8.8%
75.0%
51.1%

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

Feb-15
11.0%
-3.0%
32.4%
-17.4%
32.6%
-32.7%
-8.7%
8.9%

800

$360,000

Source: REINZ

Canterbury/Westland Median Price

Source: REINZ

12 month MA

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Mar-14

Sep-13

Canterbury/Westland Volumes

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Dec-11

Jun-11

Mar-11

Sep-15

Dec-15

Jun-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

Jun-13

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

0
Dec-11

$280,000
Mar-12

200
Jun-11

$300,000
Sep-11

400

Mar-11

$320,000

Sep-11

600

$340,000

 REINZ Central Otago Lakes Region Analysis for February 2016
Commentary

Price

Central Otago Lakes Region Trends

Sales volume for the Central Otago Lakes Region rose by 37% compared to January, with sales rising 38% in Central and
35% in Queenstown. Compared to December, sales volume was steady at 152 sales, although sales rose 26% in Central
and fell by 27% in Queenstown.
The median price across the region rose $66,861 (+14%) compared to February 2015, with prices rising 38% in
Queenstown and 9% in Central. Compared to January, the median price rose $31,111 (+6%) with prices rising 2% in
Central, but falling 2% in Queenstown.
The number of days to sell improved by 15 days compared to January, from 56 days in January to 41 days in February.
Compared to February 2015 the number of days to sell improved by 13 days. Over the past 10 years the average
number of days to sell in February across the region has been 58 days.

Feb-16
$452,500
$782,000
$556,111

Central
Queenstown
Central Otago Lakes

Volumes

Median Price
Jan-16
Feb-15
$445,000
$415,000
$798,500
$568,250
$525,000
$489,250

Vs…

Jan-16
1.7%
-2.1%
5.9%

Central
Queenstown
Central Otago Lakes

Feb-16
98
54
152

Feb-15
9.0%
37.6%
13.7%

Days to Sell

Overall

Volume Sold
Jan-16
71
40
111

Feb-15
78
74
152

Vs…

Jan-16
38.0%
35.0%
36.9%

Feb-15
25.6%
-27.0%
0.0%

REINZ Chief Executive, Colleen Milne commented that "The Central Otago Lakes market remains strong with a significant
lift in the number of sales by auction and auction prices generally exceeding vendor expectations. A new record for
auction sales was set for the region in February with 27% of sales by auction. The number of listings remains very tight
with a 50% drop in the level of inventory compared to February last year."
Graph Commentary
The median price trend has moved back to steady. In contrast the volume trend has moved from improving to rising,
with the days to sell trend also still 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

Dec-15

Jun-15

Sep-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Sep-15

Dec-15

Jun-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

Jun-13

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

Mar-11

$375,000

Mar-12

$425,000

Sep-11

$475,000

Dec-11

$525,000

Jun-11

200
180
160
140
120
100
80
60
40
20
0
Mar-11

$575,000

 REINZ Otago Region Analysis for February 2016
Commentary

Otago Region Trends

The median price across Otago rose $2,500 (+1%) compared with February 2015. Prices rose 19% in North Otago and
10% in Dunedin. Compared to January the median price fell by $10,000 (-4%) with prices rising 51% in South Otago and
3% in Dunedin, but falling 13% in North Otago.

Sale volumes across the region rose 47% compared to January with sales rising 200% in South Otago, 39% in Dunedin and
37% in North Otago. Compared to February 2015 sales volumes rose 17%, with sales rising 100% in South Otago, 41% in
North Otago and 4% in Dunedin.
The number of days to sell in Otago improved by eight days in February, from 36 days in January to 28 days in February.
Compared to February 2015 the number of days to sell improved by three days. Over the past 10 years the average
number of days to sell in Otago in February was 40 days.

Feb-16
$310,000
$216,500
$175,000
$270,000

Dunedin
North Otago
South Otago
Otago

Price
Median Price
Jan-16
$301,000
$250,000
$115,892
$280,000

Vs…

Feb-15
$281,500
$182,750
$172,500
$267,500

Jan-16
3.0%
-13.4%
51.0%
-3.6%

Dunedin
North Otago
South Otago
Otago

Volumes

Feb-16
215
48
36
307

Feb-15
10.1%
18.5%
1.4%
0.9%

Days to Sell

Overall

Volume Sold
Jan-16
155
35
12
209

Feb-15
206
34
18
263

Vs…

Jan-16
38.7%
37.1%
200.0%
46.9%

Feb-15
4.4%
41.2%
100.0%
16.7%

REINZ Regional Commentator, Liz Nidd commented that, "The market continues at pace with a significant increase in
sales volume from January to February. The only thing containing the volume from being even higher is the shortage of
listings which is evidenced by a drop of almost 200 listings on the industry website compared to a year ago."
Graph Commentary
The trend in the median price has moved back to steady, with the trend in sales volume continuing to improve. The
trend in days to sell continues to rise, 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
200

$250,000

150
$225,000

100
50

Source: REINZ

12 month MA

Source: REINZ

Otago Volumes

Dec-15

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

12 month MA

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-11

Mar-11

Sep-15

Dec-15

Jun-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Dec-13

Jun-13

Otago Median Price

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

0
Mar-11

$200,000

 REINZ Southland Region Analysis for February 2016
Commentary

Southland Region Trends

The median price across Southland rose $30,000 (+16%) compared to January, with prices rising 18% in Invercargill but
falling 1% in Gore. Compared to February 2015 the median price rose $24,250 (+13%) with prices rising 49% in Gore and
rising 4% in Invercargill.

Feb-16
$218,000
$169,000
$215,000

Invercargill
Gore
Southland

Sales volumes rose 70% compared to January, with a 77% increase in Gore and a 76% in Invercargill. Compared to
February 2015 sales volumes rose 40%, with a 50% increase in Invercargill and a 5% increase in Gore.

The number of days to sell in Southland improved by 15 days compared to January, from 52 days in January to 37 days in
February. Compared to February 2015 the number of days to sell improved by 14 days. Over the past 10 years the
number of days to sell in February for the Southland region has been 43 days.

Price

Volumes

Median Price
Jan-16
Feb-15
$185,000
$210,000
$171,000
$113,500
$185,000
$190,750

Vs…

Jan-16
17.8%
-1.2%
16.2%

Invercargill
Gore
Southland

Feb-16
139
23
199

Feb-15
3.8%
48.9%
12.7%

Days to Sell

Overall

Volume Sold
Jan-16
79
13
117

Feb-15
93
22
142

Vs…

Jan-16
75.9%
76.9%
70.1%

Feb-15
49.5%
4.5%
40.1%

REINZ Chief Executive, Colleen Milne commented that "The Southland market has become more positive recently with
solid increases in the number of sales, noticeable increases in the median price and a 28% decline in the level of
inventory across the region. Increasing numbers of both first home buyers and investors are active in the market and
attendances at open homes have also increased."
Graph Commentary
The median price trend has moved back to steady, with the sales trend also moving from improving to rising. The days
to sell trend has also moved from improving to rising, with the overall trend for the region now moving back to
improving.

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

Source: REINZ

Southland Volumes

12 month MA

Dec-15

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Dec-13

Mar-14

Sep-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-11

Mar-11

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

12 month MA

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

Southland Median Price

Sep-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Mar-12

Jun-11

Sep-11

0
Mar-11

$150,000