REINZ Auckland Region Analysis for April 2016

REINZ Chief Executive, Colleen Milne noted that, "The Auckland region has seen a rebound in sales over the past two
months with continuing strong demand across most of the region. The listing situation has tightened again, with the
number of weeks of inventory dropping back to 10 weeks, a near record low. Demand remains strong and the
adjustment period after the introduction of new LVR rules is over."
Graph Commentary
The trend in the median price has moved back to improving with the volume trend continuing to fall. The days to sell
trend continues to ease. The overall trend for the region is now also easing.

Vs…

Mar-16
-18.3%
-13.9%
-22.3%
-5.0%
-15.5%
0.0%
1.1%
-13.2%

Apr-15
-2.0%
16.9%
-10.8%
4.4%
-1.5%
24.0%
21.1%
1.7%

Vs…

Auckland Median Price

12 month MA

Source: REINZ

Auckland Volumes

12 month MA

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

May-11

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Nov-14

Aug-14

Feb-14

May-14

Aug-13

0
Nov-13

500

$450,000
Feb-13

1,000

$500,000
May-13

1,500

$550,000

Nov-12

2,000

$600,000

Aug-12

2,500

$650,000

Feb-12

3,000

$700,000

May-12

3,500

$750,000

Aug-11

Past 5 Years

Nov-11

Auckland Region Sales Volumes
4,000

Aug-11

Apr-15
507
344
880
527
2,375
204
384
2,759

Past 5 Years
$800,000

Nov-11

Apr-15
13.5%
18.9%
14.1%
14.7%
12.8%
16.4%
18.0%
12.8%

Volume Sold
Mar-16
608
467
1,010
579
2,770
253
460
3,230

Auckland Region Median Price
$850,000

May-11

Mar-16
5.0%
2.8%
-6.5%
2.6%
-1.9%
4.5%
3.6%
-1.0%

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

Apr-16
497
402
785
550
2,340
253
465
2,805

Overall

Feb-16

The number of days to sell eased by one day in April, from 31 days in March to 32 days in April. Compared to April 2015,
the number of days to sell eased by two days. Over the past 10 years the average number of days to sell during April for
Auckland has been 33 days.

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

Apr-15
$925,000
$633,500
$789,000
$689,000
$745,000
$691,500
$579,500
$720,000

Days to Sell

Aug-15

Compared to April 2015 the median price rose by $92,000 (+13%) with prices rising 19% in Waitakere, 18% in Outer
Auckland and 16% in Rodney. Compared to March the median price fell by $8,000 (-1%) , with prices rising 5% in North
Shore, 5% in Rodney and 4% in Outer Auckland. On a seasonally adjusted basis Auckland's median price fell 0.6%
compared to March.

Median Price
Apr-16
Mar-16
$1,050,000 $1,000,000
$753,000
$732,500
$900,000
$962,500
$790,000
$770,000
$840,000
$856,000
$805,000
$770,000
$684,000
$660,000
$812,000
$820,000

Volumes

Nov-15

Sales volume in the Auckland region rose 1.7% compared to April 2015, the first year on year increase since October
2015. Sales rose 24% in Rodney, 21% in Outer Auckland and 4% in Manukau City. Compared to March sales fell 13% with
the largest falls occurring in Auckland City, North Shore City and Waitakere. However, on a seasonally adjusted basis the
number of sales in the Auckland region increased by 17%, indicating that the drop from March was far less than normal.

Source: REINZ

Price

Auckland Region Trends

May-15

Commentary

 REINZ Northland Region Analysis for April 2016
Commentary

Price

Northland Region Trends

Sales volume in Northland rose by 18% compared to April 2015, with increases in Kerikeri (+37%) and Whangarei City
(+28). Compared to March, sales volumes fell 2% across the region, with a 16% rise in Kerikeri and a 6% increase in
Whangarei City, although sales fell across the rest of the region. On a seasonally adjusted basis sales in Northland
increased by almost 18%.
The median price across the region rose by $8,250 (+2%) compared to April 2015, with prices rising 29% in Kerikeri, 20%
in Otamatea County and 16% in Whangarei County. Compared to March, the median price rose by $5,000 (+1%) with
prices rising 5% in Kerikeri, 2% in Whangarei County and 1% in Otamatea County.

Apr-16
$321,000
$505,000
$505,000
$530,000
$355,000

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Median Price
Mar-16
$342,500
$495,000
$501,125
$505,000
$350,000

Apr-15
$282,500
$434,750
$420,000
$409,500
$346,750

Mar-16
-6.3%
2.0%
0.8%
5.0%
1.4%

Apr-15
13.6%
16.2%
20.2%
29.4%
2.4%

Vs…
The number of days to sell was steady at 43 days compared to March. The number of days to sell improved by 17 days
compared to April 2015. Over the past 10 years the average number of days to sell during April for Northland has been
57 days.

REINZ Chief Executive, Colleen Milne noted that, "The Northland market is continuing to see strong underlying growth in
both volume and prices, with the median price just $5,000 below its record in October. Demand is particularly strong for
well located two and three bedroom properties, with investors more active in the market than first home buyers."

Volumes

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Days to Sell

Apr-16
123
35
20
37
283

Overall

Volume Sold
Mar-16
116
40
24
32
288

Vs…

Apr-15
96
38
21
27
240

Mar-16
6.0%
-12.5%
-16.7%
15.6%
-1.7%

Apr-15
28.1%
-7.9%
-4.8%
37.0%
17.9%

Graph Commentary
The trend in median price has moved back to steady, from 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 easing back to improving.

Northland Region Median Price

Northland Region Sales Volumes

Past 5 Years

Past 5 Years

$380,000

350

$355,000

300
250

$330,000

200

$305,000

150
$280,000

Source: REINZ

12 month MA

Source: REINZ

Northland Volumes

12 month MA

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Nov-11

May-11

Feb-16

Nov-15

Aug-15

Feb-15

May-15

Aug-14

Nov-14

May-14

Feb-14

Aug-13

Northland Median Price

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

Aug-11

Nov-11

0
May-11

50

$230,000

Aug-11

100

$255,000

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

Waikato/Bay of Plenty Region Trends

Sales volumes compared to April 2015 rose 32%, with sales in Rotorua rising 121%, Eastern BOP Country rising 74% and
Gisborne 66%. Compared to March sales across the region fell 7%, with sales rising 18% in Gisborne, 15% in Eastern BOP
Country and 5% in Rotorua. On a seasonally adjusted basis sales for April increased by 11% compared to March,
indicating that the drop in sales was far lower than normal between March and April.

The median price across the region rose $67,000 (+19%) compared to April 2015 to reach another record high, the fifth
in the past six months. Prices rose 39% in Tauranga, 26% in Mt Maunganui/Papamoa and 24% in Waikato Country.
Compared to March the median price rose $2,000 (+1%), with prices rising 15% in Taupo, 8% in Gisborne and 5% in
Tauranga. On a seasonally adjusted basis prices rose 1.2%.

The number of days to sell eased by three days in April, from 30 days in March to 33 days in April. The number of days to
sell improved by nine days compared to April 2015. Over the past 10 years the average number of days to sell during
April for the region has been 48 days.

REINZ Regional Director, Philip Searle noted that "The Waikato/Bay of Plenty region continues to see strong demand and
another new record median price. The level of listings has dropped 60% compared to April last year with many towns
across the region having very low levels of properties available for sale. The Auckland 'halo effect' is in full swing across
the region."
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

Apr-16
$458,000
$325,000
$537,500
$622,500
$275,100
$405,500
$302,500
$251,000
$417,000

Price

Volumes

Median Price
Mar-16
$472,000
$318,000
$511,500
$616,500
$270,000
$352,500
$316,000
$232,500
$415,000

Apr-15
$375,000
$261,250
$386,000
$495,000
$269,000
$332,000
$258,000
$238,500
$350,000

Mar-16
-3.0%
2.2%
5.1%
1.0%
1.9%
15.0%
-4.3%
8.0%
0.5%

Apr-15
22.1%
24.4%
39.2%
25.8%
2.3%
22.1%
17.2%
5.2%
19.1%

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

Apr-16
371
294
190
122
183
86
92
73
1,591

Days to Sell

Overall

Volume Sold
Mar-16
415
305
226
160
175
106
80
62
1,715

Apr-15
296
240
144
103
83
85
53
44
1,203

Mar-16
-10.6%
-3.6%
-15.9%
-23.8%
4.6%
-18.9%
15.0%
17.7%
-7.2%

Apr-15
25.3%
22.5%
31.9%
18.4%
120.5%
1.2%
73.6%
65.9%
32.3%

Vs…

Waikato/BOP Region Median Price

Waikato/BOP Region Sales Volumes

Past 5 Years

Past 5 Years

$425,000

Source: REINZ

12 month MA

Source: REINZ

Waikato/BOP Volumes

12 month MA

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Nov-14

Aug-14

May-14

Feb-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Nov-14

Aug-14

Feb-14

May-14

Aug-13

Waikato/BOP Median Price

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

Aug-11

Nov-11

May-11

$300,000

May-12

$325,000

Feb-12

$350,000

Aug-11

$375,000

Nov-11

$400,000

May-11

2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0

 REINZ Hawkes Bay Region Analysis for April 2016
Commentary

Price

Hawkes Bay Region Trends

Sales volumes in Hawkes Bay rose 50% compared to April 2015, with sales rising 180% in Dannevirke, 78% in Hawkes Bay
Country and 46% in Napier. Compared to March sales volumes increased 11%, with sales rising 87% in Dannevirke, 33%
in Hawkes Bay Country and 8% in Napier. On a seasonally adjusted basis sales for April rose 42% compared to March
indicating that sales were far stronger than normal for April across the region.

The median price rose $20,250 (+7%) compared to April 2015 with prices rising 128% in Hawkes Bay Country, 18% in
Dannevirke and 13% in Hastings. Compared to March the median price rose $14,750 (+5%) with prices rising 23% in
Hawkes Bay Country, 8% in Hastings and 7% in Napier.

Apr-16
$360,000
$348,250
$296,250
$140,000
$325,250

Napier City
Hastings City
Hawkes Bay Country
Dannevirke
Hawkes Bay

Median Price
Mar-16
$337,000
$322,500
$240,000
$194,000
$310,500

Vs…
The median days to sell for Hawkes Bay eased by two days in April, from 31 days in March to 33 days in April. The
number of days to sell improved by 14 days compared to April 2015. Over the past 10 years the median number of days
to sell for the Hawkes Bay region in April has been 46 days.
REINZ Chief Executive, Colleen Milne noted that, "The Hawkes Bay region appeared to pause in March, however the
growth in sales resumed in April with the number of sales exceeding 300 for the first time since March 2007. Prices have
remained generally firm, with the familiar theme of a dramatic fall in the number of properties available for sale
occurring in this region as well."

Apr-15
$340,000
$307,500
$130,000
$119,000
$305,000

Mar-16
6.8%
8.0%
23.4%
-27.8%
4.8%

Napier City
Hastings City
Hawkes Bay Country
Dannevirke
Hawkes Bay

Volumes

Apr-16
133
112
16
28
308

Apr-15
5.9%
13.3%
127.9%
17.6%
6.6%

Days to Sell

Overall

Volume Sold
Mar-16
123
104
12
15
277

Apr-15
91
86
9
10
206

Vs…

Mar-16
8.1%
7.7%
33.3%
86.7%
11.2%

Apr-15
46.2%
30.2%
77.8%
180.0%
49.5%

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

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Nov-11

Aug-11

May-11

Feb-16

Nov-15

Aug-15

Feb-15

May-15

Aug-14

Nov-14

May-14

Feb-14

Aug-13

Hawkes Bay Median Price

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

Aug-11

Nov-11

0
May-11

$240,000

 REINZ Manawatu/Wanganui Region Analysis for April 2016
Commentary

Price

Manawatu/Wanganui Region Trends

Sales volumes rose 35% compared to April 2015, with sales rising 113% in Manawatu Country, 89% in Wanganui and 28%
in Levin. Compared to March sales volumes fell 6%, with sales rising 40% in Manawatu Country, 10% in Feilding and 1%
in Wanganui. On a seasonally adjusted basis sales across the region rose 40%, indicating that the drop in sales in April
was far lower than normal.
The median price across the region rose $17,000 (+8%) compared to April 2015 with prices rising 27% in Levin, 13% in
Palmerston North and 10% in Manawatu Country. Compared to March the median price rose $6,000 (+3%), with prices
rising 18% in Levin, 6% in Palmerston North and 1% in Feilding.

Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Apr-16
$302,300
$267,500
$223,500
$200,000
$144,000
$239,000

Median Price
Mar-16
$285,000
$265,000
$189,000
$255,000
$172,500
$233,000

Apr-15
$268,500
$283,000
$176,000
$182,000
$147,500
$222,000

Mar-16
6.1%
0.9%
18.3%
-21.6%
-16.5%
2.6%

Apr-15
12.6%
-5.5%
27.0%
9.9%
-2.4%
7.7%

Vs…
The number of days to sell eased by six days in April, from 29 days in March to 35 days in April. The number of days to
sell improved by 18 days compared to April 2015. Over the past 10 years the average number of days to sell during April
for the region has been 47 days.
REINZ Chief Executive, Colleen Milne noted that, "First home buyers and investors are very active in the region, with the
number of properties available shrinking rapidly. Investors are being attracted by low interest rates both on deposits
and borrowing, while properties attractive to first home buyers are in short supply. Over the past 12 months the level of
available properties for sale has fallen by 50%."

Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Volumes

Apr-16
132
32
46
49
83
376

Days to Sell

Overall

Volume Sold
Mar-16
145
29
61
35
82
399

Apr-15
114
37
36
23
44
279

Vs…

Mar-16
-9.0%
10.3%
-24.6%
40.0%
1.2%
-5.8%

Apr-15
15.8%
-13.5%
27.8%
113.0%
88.6%
34.8%

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

Source: REINZ

Manawatu/Wanganui Median Price

Source: REINZ

Manawatu/Wanganui Volumes

Feb-16

Aug-15

Nov-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

Feb-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

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

May-11

$175,000

May-12

$200,000

Feb-12

$225,000

Nov-11

$250,000

Aug-11

450
400
350
300
250
200
150
100
50
0
May-11

$275,000

 REINZ Taranaki Region Analysis for April 2016
Commentary

Price

Taranaki Region Trends

Sales volume for the Taranaki region rose 13% compared to April 2015 with sales up 43% in Taranaki Country, 23% in
New Plymouth and 5% in Hawera. Compared to March, sales volumes rose by 11% with sales up 100% in Taranaki
Country and 16% in New Plymouth, but falling across the rest of the region.
The median price across the region rose $45,000 (+15%) compared to April 2015 to reach a new record high, with prices
up 21% in Taranaki Country, 14% in New Plymouth and 2% in Bell Block. Compared to March the median price rose
$27,500 (+9%) with prices rising 125% in Taranaki Country, 10% in New Plymouth and 8% in Hawera.

Apr-16
$394,000
$250,000
$350,000
$192,500
$342,500

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Median Price
Mar-16
$357,050
$111,000
$428,750
$177,750
$315,000

Vs…
The number of days to sell eased by three days compared to March, from 33 days in March to 36 days in April.
Compared to April 2015 the number of days to sell improved by 15 days. Over the past 10 years the median number of
days to sell across the region in April has averaged 44 days.

REINZ Chief Executive, Colleen Milne noted that "The jump in the median price could be explained by a noticeable
increase in enquiries and sales in the $1 million plus bracket, although demand has remained strong across most price
points. The listing situation in Taranaki is far more balanced than in other parts of New Zealand with only a 10% drop in
the number of properties available for sale over the past 12 months."

Apr-15
$347,000
$206,500
$342,500
$260,000
$297,500

Mar-16
10.3%
125.2%
-18.4%
8.3%
8.7%

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Volumes

Apr-16
102
40
7
22
197

Apr-15
13.5%
21.1%
2.2%
-26.0%
15.1%

Days to Sell

Overall

Volume Sold
Mar-16
88
20
10
24
177

Apr-15
83
28
12
21
174

Vs…

Mar-16
15.9%
100.0%
-30.0%
-8.3%
11.3%

Apr-15
22.9%
42.9%
-41.7%
4.8%
13.2%

Source: REINZ

Taranaki Median Price

12 month MA

Source: REINZ

Taranaki Volumes

12 month MA

Feb-16

Aug-15

Nov-15

Feb-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

May-11

Feb-16

Nov-15

Aug-15

Feb-15

May-15

Aug-14

Nov-14

May-14

Feb-14

0
Aug-13

$225,000
Nov-13

50

Feb-13

$250,000

May-13

100

Nov-12

$275,000

Aug-12

150

Feb-12

$300,000

May-12

200

Aug-11

$325,000

Nov-11

250

May-11

$350,000

Feb-12

Past 5 Years

Nov-11

Taranaki Region Sales Volumes

Past 5 Years

Aug-11

Taranaki Region Median Price

May-15

Graph Commentary
The median price trend continues to ease, with the sales volume trend moving back to steady. The days to sell trend
continues to rise, although the overall trend has eased back to steady.

 REINZ Wellington Region Analysis for April 2016
Commentary

Price

Wellington Region Trends

The median price for the Wellington region rose $43,750 (+11%) compared to April 2015. Prices rose 25% in Eastern
Wellington, 20% in Central Wellington, and 19% in Northern Wellington. Compared to March the median price fell
$4,000 (-1%) from last month's record high with prices rising 29% in Central Wellington, 9% in Upper Hutt and 2% in
Pukerua Bay/Tawa.

Compared to April 2015 sales volumes rose 23% across the region with sales rising 73% in Upper Hutt, 50% in Central
Wellington and 32% in Eastern Wellington. Compared to March sales volumes fell 20%, with sales rising 10% in Southern
Wellington, but falling 1% in Hutt Valley and 8% in Upper Hutt. Even though sales fell 20% compared to March, on a
seasonally adjusted basis sales still rose 2%.

The number of days to sell eased by five days in April, from 24 days in March to 29 days in April. Compared to April 2015
the number of days to sell improved by 10 days. Over the past 10 years the median number of days to sell across the
region in April has averaged 37 days.

REINZ Regional Director Euon Murrell noted that, "The Wellington region is seeing strong demand for property and a
very limited response in terms of new listings. The weeks of available inventory has fallen by over 60% over the past 12
months, with less than six weeks supply available. This is far less than Auckland and Waikato/Bay of Plenty. Prices are
rising in response to very limited supply."
Graph Commentary
The trend in the median price is now steady, although the volume trend is now improving. The days to sell trend is now
rising with the overall trend for the Wellington region now improving.

Apr-16
$407,000
$375,000
$561,500
$475,000
$680,000
$653,000
$621,500
$481,000
$455,000

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

Median Price
Mar-16
$375,000
$437,000
$583,000
$368,598
$733,000
$762,895
$613,421
$470,000
$459,000

Vs…

Wellington Region Median Price

Days to Sell

Overall

Volume Sold
Apr-16
Mar-16
97
105
187
189
86
123
81
150
45
58
57
74
64
58
97
133
920 1,149

Apr-15
$349,000
$365,000
$472,500
$397,500
$545,600
$571,000
$538,550
$423,375
$411,250

Mar-16
8.5%
-14.2%
-3.7%
28.9%
-7.2%
-14.4%
1.3%
2.3%
-0.9%

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

Volumes

Apr-15
16.6%
2.7%
18.8%
19.5%
24.6%
14.4%
15.4%
13.6%
10.6%

Vs…

Apr-15
56
183
72
54
34
56
56
82
750

Mar-16
-7.6%
-1.1%
-30.1%
-46.0%
-22.4%
-23.0%
10.3%
-27.1%
-19.9%

Apr-15
73.2%
2.2%
19.4%
50.0%
32.4%
1.8%
14.3%
18.3%
22.7%

Wellington Region Sales Volumes

Past 5 Years

Past 5 Years

$480,000

1,400

$460,000

1,200
1,000

$440,000

800
$420,000
600
$400,000

Source: REINZ

12 month MA

Source: REINZ

Wellington Volumes

12 month MA

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Nov-14

Aug-14

May-14

Feb-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Aug-11

May-11

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Nov-14

Aug-14

Feb-14

May-14

Aug-13

Wellington Median Price

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

Aug-11

Nov-11

0
May-11

200

$360,000

Nov-11

400

$380,000

 REINZ Nelson/Marlborough Region Analysis for April 2016
Commentary

Price

Nelson/Marlborough Region Trends

The median price across the region rose $36,000 (+10%) compared to April 2015, with prices rising 28% in Motueka, 26%
in Richmond and 7% in Marlborough/Kaikoura. Compared to March the median price fell $20,500 (-5%) from last
month's record high 24% in Richmond and 1% in Motueka but falling across the rest of the region.
Sales volume compared to April 2015 rose 29%, with sales rising 38% in Richmond, 33% in Nelson and 31% in Motueka.
Compared to March sales volumes fell by 13%, with sales falling 7% in Marlborough/Kaikoura, 9% in Nelson and 21% in
Richmond. Despite this fall in sales compared to March, on a seasonally adjusted basis the volume of sales increased by
14%.

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Apr-16
$395,000
$545,000
$435,000
$330,000
$392,000

Median Price
Mar-16
$405,500
$440,000
$429,000
$374,500
$412,500

Vs…
The number of days to sell in April was steady at 28 days compared to March. Compared to April 2015 the number of
days to sell improved by 17 days. Over the past 10 years the number of days to sell in April across the region has
averaged 40 days.

REINZ Chief Executive, Colleen Milne noted that, "The market has continued to perform strongly despite the pull back in
prices and volumes after a strong March. The number of properties available for sale continues to decline in the face of
rising sales demand, with the level of available supply, falling by 50% over the past 12 months. The number of days to
sell also sits at near record lows, also indicative of strong demand."

Apr-15
$403,000
$432,500
$339,500
$309,500
$356,000

Mar-16
-2.6%
23.9%
1.4%
-11.9%
-5.0%

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Volumes

Apr-16
101
33
21
112
291

Apr-15
-2.0%
26.0%
28.1%
6.6%
10.1%

Days to Sell

Overall

Volume Sold
Mar-16
111
42
27
120
335

Apr-15
76
24
16
89
226

Vs…

Mar-16
-9.0%
-21.4%
-22.2%
-6.7%
-13.1%

Apr-15
32.9%
37.5%
31.3%
25.8%
28.8%

Graph Commentary
The price trend for the region has now improved to steady, although the sales volume trend is now improving. The days
to sell trend is now rising, with the overall trend for the region is now improving.

Nelson/Marlborough Region Median Price

Nelson/Marlborough Region Sales Volumes

Past 5 Years

Past 5 Years

$425,000

400
350

$400,000

300
$375,000

250

$350,000

200
150

$325,000

100
$300,000

50

Source: REINZ

Nelson/Marlborough Median Price

Source: REINZ

Nelson/Marlborough Volumes

Feb-16

Aug-15

Nov-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Nov-11

Aug-11

May-11

Feb-16

Aug-15

Nov-15

Feb-15

12 month MA

May-15

Nov-14

Aug-14

Feb-14

May-14

Aug-13

Nov-13

May-13

Feb-13

Aug-12

Nov-12

Feb-12

May-12

Aug-11

Nov-11

0
May-11

$275,000

 REINZ Canterbury/Westland Region Analysis for April 2016
Commentary

Canterbury/Westland Region Trends

Sales volume across the region rose by 24% compared to April 2015, with sales rising 104% in South Canterbury, 67% in
North Canterbury, and 63% in Timaru. Compared to March sales volumes fell 14%, with sales volumes rising 17% in
South Canterbury, but falling 6% in North Canterbury and 11% in West Coast. On a seasonally adjusted basis the volume
of sales increased by just over 1% compared to March.
The median price rose $2,250 (+1%) compared to April 2015 to reach a new record high. Prices rose 32% in West Coast,
12% in Timaru and 9% in Rangiora. Compared to March the median price also rose $2,250 (+1%) with prices rising 6% in
Rangiora and Timaru, by 4% in West Coast and 1% in Christchurch.
REINZ Regional Director, Jim Davis commented that, "The listings situation in Canterbury/Westland is less severe than in
other parts of the country, however, strong demand and limited numbers of new listings are keeping an upward
pressure on prices. There has been a noticeable increase in interest in West Coast properties from Christchurch buyers
and investors are active in Timaru and South Canterbury more generally. Low interest rates are driving investor demand
in the search for higher yields."
The number of days to sell eased by four days in April, from 28 days in March to 32 days in April. Compared to April 2015
the number of days to sell eased by one day. Over the past 10 years the average number of days to sell in April across
the region has been 34 days.
Graph Commentary
The median price trend continues to easing, with the sales volume trend improving to steady. The days to sell trend has
moved up to easing. The overall trend for the region continues to ease.

Apr-16
$450,000
$452,500
$402,500
$352,500
$332,000
$260,000
$233,250
$427,250

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

Median Price
Mar-16
$445,000
$426,000
$457,500
$355,000
$312,000
$270,500
$224,000
$425,000

Vs…

Price

Apr-15
$440,750
$416,500
$425,000
$325,300
$297,500
$268,750
$177,000
$425,000

Mar-16
1.1%
6.2%
-12.0%
-0.7%
6.4%
-3.9%
4.1%
0.5%

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

Volumes

Apr-15
2.1%
8.6%
-5.3%
8.4%
11.6%
-3.3%
31.8%
0.5%

Apr-16
648
40
45
50
67
49
34
1,032

Days to Sell

Overall

Volume Sold
Mar-16
769
48
48
58
77
42
38
1,199

Apr-15
560
33
27
43
41
24
23
835

Mar-16
-15.7%
-16.7%
-6.3%
-13.8%
-13.0%
16.7%
-10.5%
-13.9%

Apr-15
15.7%
21.2%
66.7%
16.3%
63.4%
104.2%
47.8%
23.6%

Vs…

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

800

$360,000

Source: REINZ

Canterbury/Westland Median Price

Source: REINZ

Canterbury/Westland Volumes

Feb-16

Aug-15

Nov-15

Feb-15

12 month MA

May-15

Nov-14

Aug-14

May-14

Feb-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Aug-11

May-11

Feb-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

0
Aug-11

200

$280,000
Nov-11

400

$300,000
May-11

$320,000

Nov-11

600

$340,000

 REINZ Central Otago Lakes Region Analysis for April 2016
Commentary

Price

Central Otago Lakes Region Trends

Sales volume for the Central Otago Lakes Region rose by 26% compared to April 2015 to reach a new all time record
high; the first region to hit a new volume high since March 2007. Sales rose 26% in Queenstown and 26% in Central.
Compared to March, sales volume rose 23%, with sales rising 48% in Central, but steady in Queenstown.
The median price across the region rose $134,250 (+25%) compared to April 2015, with prices rising 31% in Queenstown
and 17% in Central. Compared to March, the median price fell $35,750 (-5%) with prices rising 8% in Queenstown but
falling 10% in Central.
The number of days to sell eased by five days compared to March, from 31 days in March to 36 days in April. Compared
to April 2015 the number of days to sell improved by six days. Over the past 10 years the average number of days to sell
in April across the region has been 51 days.

Apr-16
$473,000
$877,500
$666,250

Central
Queenstown
Central Otago Lakes

Volumes

Median Price
Mar-16
Apr-15
$525,000
$403,000
$815,000
$670,000
$702,000
$532,000

Vs…

Mar-16
-9.9%
7.7%
-5.1%

Central
Queenstown
Central Otago Lakes

Apr-16
108
82
190

Apr-15
17.4%
31.0%
25.2%

Days to Sell

Overall

Volume Sold
Mar-16
73
82
155

Apr-15
86
65
151

Vs…

Mar-16
47.9%
0.0%
22.6%

Apr-15
25.6%
26.2%
25.8%

REINZ Regional Director, Gail Hudson commented that "The market continues to be very strong, with the dramatic lift in
the median price in March being 'bedded in' during April. The region has also experienced a new record high in terms of
sales volume, exceeding the previous record high set in March 2003 by three sales. The listing situation across the region
remains tight, with a 44% drop in inventory over the past 12 months."
Graph Commentary
The median price trend is now improving with the volume trend continuing to rise and the days to sell trend also rising.
The overall trend for the region is now rising. Along with Waikato/Bay of Plenty, Central Otago Lakes is the strongest
real estate market at present.

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

Feb-16

Aug-15

Nov-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Feb-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

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

May-11

$375,000

Nov-12

$425,000

Aug-12

$475,000

May-12

$525,000

Feb-12

$575,000

Nov-11

$625,000

Aug-11

200
180
160
140
120
100
80
60
40
20
0

$675,000

May-11

$725,000

 REINZ Otago Region Analysis for April 2016
Commentary

Otago Region Trends

The median price across Otago rose $24,000 (+9%) compared with April 2015 to reach a new record high. Prices rose 9%
in Dunedin, 1% in North Otago but fell 13% in South Otago. Compared to March the median price rose by $4,000 (+1%)
with prices rising 13% in North Otago and 3% in Dunedin, but falling 30% in South Otago.

Sale volumes across the region rose 35% compared to April 2015 with sales rising 36% in North Otago, 37% in Dunedin
and 8% in South Otago. Compared to March sales volumes fell 7%, with sales rising 9% in North Otago, but falling 8% in
Dunedin and 19% in South Otago.
The number of days to sell in Otago was steady at 27 days in April compared to March. Compared to April 2015 the
number of days to sell improved by 11 days. Over the past 10 years the average number of days to sell in Otago in April
was 37 days.

Apr-16
$315,000
$239,000
$137,500
$284,000

Dunedin
North Otago
South Otago
Otago

Price
Median Price
Mar-16
$305,000
$212,000
$196,250
$280,000

Vs…

Apr-15
$288,500
$237,775
$158,500
$260,000

Mar-16
3.3%
12.7%
-29.9%
1.4%

Dunedin
North Otago
South Otago
Otago

Volumes

Apr-16
254
64
26
355

Apr-15
9.2%
0.5%
-13.2%
9.2%

Days to Sell

Overall

Volume Sold
Mar-16
277
59
32
383

Apr-15
185
47
24
263

Vs…

Mar-16
-8.3%
8.5%
-18.8%
-7.3%

Apr-15
37.3%
36.2%
8.3%
35.0%

REINZ Regional Commentator, Liz Nidd commented that, "The Otago region hit a new record high in April driven by
strong demand from first home buyers worried about missing out and investors seeking better yields on their
investments. Demand is coming both from locals and New Zealanders returning to the region from overseas. Demand
from Auckland investors is also noticeable."
Graph Commentary
The trend in the median price remains steady, with the trend in sales volume moving from improving to rising. The trend
in days to sell continues to rise, with the overall trend for the region continuing to improve.

Otago Region Median Price

Otago Region Sales Volumes

Past 5 Years

Past 5 Years

Source: REINZ

12 month MA

Source: REINZ

Otago Volumes

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Aug-14

12 month MA

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

Feb-16

Nov-15

Aug-15

Feb-15

May-15

Aug-14

Nov-14

May-14

Feb-14

Aug-13

Otago Median Price

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

Aug-11

Nov-11

May-11

$200,000

May-12

$225,000

Feb-12

$250,000

Nov-11

$275,000

Aug-11

450
400
350
300
250
200
150
100
50
0
May-11

$300,000

 REINZ Southland Region Analysis for April 2016
Commentary

Southland Region Trends

The median price across Southland fell $5,000 (-3%) compared to April 2015, with prices falling by 7% in both Gore and
Invercargill. Compared to March the median price fell $15,000 (-7%) with prices falling 5% in Gore and 7% in Invercargill.

Apr-16
$198,000
$161,000
$195,000

Invercargill
Gore
Southland

Sales volumes rose 49% compared to April 2015, with a 62% increase in Invercargill and a 13% increase in Gore.
Compared to March sales volumes were steady at 220 sales, although sales rose 5% in Invercargill, but fell 16% in Gore.

The number of days to sell in Southland was steady at 35 days in April compared to March. Compared to April 2015 the
number of days to sell improved by 13 days. Over the past 10 years the number of days to sell in April for the Southland
region has been 40 days.

Price

Volumes

Median Price
Mar-16
Apr-15
$212,000
$212,000
$168,500
$172,500
$210,000
$200,000

Vs…

Mar-16
-6.6%
-4.5%
-7.1%

Invercargill
Gore
Southland

Apr-16
154
27
220

Apr-15
-6.6%
-6.7%
-2.5%

Days to Sell

Overall

Volume Sold
Mar-16
147
32
220

Apr-15
95
24
148

Vs…

Mar-16
4.8%
-15.6%
0.0%

Apr-15
62.1%
12.5%
48.6%

REINZ Chief Executive, Colleen Milne commented that "The Southland market continues to see strong sales volumes with
the number of sales holding steady at 220. This is the highest level of sales since February 2008. Inventory levels have
dropped by 28% over the past year. Although prices have not yet noticeably responded to the increase in demand and
tightening of supply, the underlying price trend has been rising steadily for the past 18 months."
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

12 month MA

Source: REINZ

Southland Volumes

12 month MA

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

May-13

Feb-13

Nov-12

Aug-12

May-12

Feb-12

Nov-11

Aug-11

May-11

Feb-16

Aug-15

Nov-15

Feb-15

May-15

Nov-14

Aug-14

Feb-14

May-14

Aug-13

Southland Median Price

Nov-13

Feb-13

May-13

Nov-12

Aug-12

Feb-12

May-12

Aug-11

Nov-11

0
May-11

$150,000