REINZ Auckland Region Analysis for June 2016

REINZ Spokesman, Bryan Thomson noted that, "The Auckland region is seeing sales volumes flatten out, although this
may be due more to lack of choice for buyers given very low levels of listings available heading into winter. Demand has
softened in some parts of the region, but there is still strong demand in the eastern suburbs and in the southern parts of
the region. The lack of supply and continuing strong demand is driving prices higher."
Graph Commentary
The trend in the median price continues to improve 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…

May-16
-19.7%
-21.5%
-14.4%
-3.8%
-14.9%
-2.9%
-10.0%
-14.2%

Jun-15
-10.8%
-6.2%
5.2%
-1.8%
-3.4%
6.4%
2.5%
-2.5%

Vs…

Auckland Median Price

Source: REINZ

Auckland Volumes

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Jan-14

Apr-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jan-12

Jul-11

Jan-16

Apr-16

Oct-15

Jul-15

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Apr-14

Jan-14

0
Oct-13

500

$450,000
Jul-13

1,000

$500,000
Jan-13

1,500

$550,000

Apr-13

2,000

$600,000

Jul-12

2,500

$650,000

Oct-12

3,000

$700,000

Apr-12

3,500

$750,000

Apr-12

Past 5 Years

Oct-11

Auckland Region Sales Volumes
4,000

Jan-12

Jun-15
502
373
850
548
2,403
219
405
2,808

Past 5 Years
$800,000

Jul-11

Jun-15
13.6%
12.0%
-1.1%
11.6%
7.0%
27.0%
29.0%
8.7%

Volume Sold
May-16
558
446
1,044
559
2,728
240
461
3,189

Auckland Region Median Price
$850,000

Oct-11

May-16
3.7%
1.9%
1.4%
-3.8%
0.8%
5.6%
14.2%
2.0%

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

Jun-16
448
350
894
538
2,322
233
415
2,737

Overall

Apr-16

The number of days to sell improved by two days compared to May, from 32 days in May to 30 days in June. Compared
to June 2015, the number of days to sell eased by one day. Over the past 10 years the average number of days to sell
during June for Auckland has been 34 days. Across the Auckland region the level of available inventory continutes to
shrink, with just over nine weeks of supply as at the end of June.

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

Jun-15
$940,500
$700,000
$859,250
$675,000
$787,000
$685,000
$580,000
$755,000

Days to Sell

Jan-16

Compared to June 2015 the median price rose by $66,000 (+9%) with prices rising 29% in Outer Auckland, 27% in Rodney
and 14% in North Shore. Compared to May the median price rose by $16,000 (+2%) , with pricing rising 14% in Outer
Auckland, 6% in Rodney and 4% in North Shore. On a seasonally adjusted basis Auckland's median price rose 2.9%
compared to May. The median price in Auckland reached a new record high of $821,000 in June.

Median Price
Jun-16
May-16
$1,068,500 $1,030,250
$784,250
$769,500
$850,000
$838,000
$753,500
$782,888
$842,000
$835,000
$870,000
$823,750
$748,000
$655,000
$821,000
$805,000

Volumes

Oct-15

Sales volume in the Auckland region fell 3% compared to June 2015 with volume up 6% in Rodney, 5% in Auckland City
and 3% in Outer Auckland but falling across the rest of the region. Compared to May sales fell 14% with volume down 3%
in Rodney, 4% in Manukau and 10% in Outer Auckland. On a seasonally adjusted basis the number of sales in the
Auckland region fell 3% compared to May, indicating that the drop in sales from May was slightly larger than normal.

Source: REINZ

Price

Auckland Region Trends

Jul-15

Commentary

 REINZ Northland Region Analysis for June 2016
Commentary

Price

Northland Region Trends

Sales volume in Northland continues to rise strongly, with volume up 20% compared to June 2015, with a 122% increase
in Otamatea County and 12% in Whangarei City. Compared to May, sales volumes fell 14% across the region, with a 8%
rise in Otamatea County, but falls across the rest of the region. On a seasonally adjusted basis sales were down 13%
compared to May, although this may reflect very strong sales in May.
The median price across the region rose by $45,000 (+14%) compared to June 2015 to reach a new record high, with
prices rising 26% in Whangarei, 23% in Whangarei County and 15% in Otamatea County. Compared to May, the median
price rose by $9,250 (+3%) with prices rising 67% in Otamatea County and 5% in Whangarei City, but falling across the
rest of the region. On a seasonally adjusted basis the median price increased by 1% compared to May.

Jun-16
$351,500
$535,000
$533,500
$506,500
$360,000

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Median Price
May-16
$335,000
$562,500
$320,000
$595,000
$350,750

Jun-15
$279,500
$435,000
$462,500
$525,000
$315,000

May-16
4.9%
-4.9%
66.7%
-14.9%
2.6%

Jun-15
25.8%
23.0%
15.4%
-3.5%
14.3%

Vs…
The number of days to sell improved by two days compared to May, from 44 days in May to 42 days in June. The
number of days to sell improved by nine days compared to June 2015. Over the past 10 years the average number of
days to sell during June for Northland has been 62 days. The level of inventory available as fallen by 60% over the past
year.
REINZ Spokesman, Bryan Thomson noted that, "Although the rate of sales growth is easing, the underlying trend remains
firmly upward, with increasing demand in the Whangarei area and an ever tightening level of listings. There has also
been a noticeable increase in auction sales over the past month in response to tight supply and demand currently."

Volumes

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Jun-16
116
32
40
22
305

Days to Sell

Overall

Volume Sold
May-16
142
46
37
33
356

Jun-15
104
46
18
22
255

May-16
-18.3%
-30.4%
8.1%
-33.3%
-14.3%

Jun-15
11.5%
-30.4%
122.2%
0.0%
19.6%

Vs…

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
400

$380,000

350

$360,000

300
$340,000

250

$320,000

200

$300,000

150
100

$280,000

50

$260,000

Northland Median Price

12 month MA

Source: REINZ

Northland Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jan-12

Apr-12

Jul-11

Oct-11

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

Apr-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

Source: REINZ

Oct-11

0

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

Waikato/Bay of Plenty Region Trends

Sales volumes compared to June 2015 was flat, with sales in Rotorua rising 72%, Gisborne rising 13%, and Mt Maunganui
/ Papamoa rising 8%. Compared to May sales across the region fell 14% with sales rising 13% in Rotorua, but falling by
5% in Hamilton and 10% in Tauranga. On a seasonally adjusted basis sales for June fell 5%, indicating that the drop in
sales was larger than normal.

The median price across the region rose $91,250 (+26%) compared to June 2015 to reach another record high, the
seventh in the past eight months. Prices rose 41% in Mt Maunganui / Papamoa, 39% in Waikato Country and 34% in
Tauranga. Compared to May the median price rose $19,000 (+5%), with prices rising 13% in Waikato Country, 10% in Mt
Maunganui / Papamoa and 7% in Gisborne. On a seasonally adjusted basis prices rose 3.6% compared to May.

The number of days to sell eased by one day in June, from 31 days in May to 32 days in June. The number of days to sell
improved by nine days compared to June 2015. Over the past 10 years the average number of days to sell during June
for the region has been 52 days. The region has just over 10 weeks of supply available, a drop of 48% over the past year.

REINZ Regional Director, Philip Searle noted that "The continuing strong rise in median prices in the main centres across
the region is driving up vendor expectations and making it more difficult for first home buyers, particularly in markets
such as Hamilton and Tauranga. Despite the lift in prices, demand remains strong and the supply of listings continues to
fall away creating more competition for those properties available for sale."
Graph Commentary
The trend in median price has moved from improving to rising, 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

Jun-16
$485,000
$356,500
$556,750
$697,500
$285,000
$372,500
$279,000
$248,500
$438,000

Price

Volumes

Median Price
May-16
$480,000
$315,000
$550,250
$634,000
$285,250
$365,500
$315,500
$232,000
$419,000

Jun-15
$372,000
$256,500
$415,000
$495,000
$276,000
$338,250
$275,000
$196,000
$346,750

May-16
1.0%
13.2%
1.2%
10.0%
-0.1%
1.9%
-11.6%
7.1%
4.5%

Jun-15
30.4%
39.0%
34.2%
40.9%
3.3%
10.1%
1.5%
26.8%
26.3%

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

Jun-16
341
266
168
121
179
66
61
54
1,414

Days to Sell

Overall

Volume Sold
May-16
359
347
186
137
158
114
86
71
1,647

Jun-15
392
280
178
112
104
74
61
48
1,414

May-16
-5.0%
-23.3%
-9.7%
-11.7%
13.3%
-42.1%
-29.1%
-23.9%
-14.1%

Jun-15
-13.0%
-5.0%
-5.6%
8.0%
72.1%
-10.8%
0.0%
12.5%
0.0%

Vs…

Waikato/BOP Region Median Price

Waikato/BOP Region Sales Volumes

Past 5 Years

Past 5 Years

Waikato/BOP Median Price

Source: REINZ

Waikato/BOP Volumes

Apr-16

Jan-16

Oct-15

Jul-15

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Jan-14

Apr-14

Jul-13

Oct-13

Jan-13

Apr-13

Jan-16

Apr-16

Oct-15

Jul-15

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Apr-14

Jan-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

Source: REINZ

Oct-11

$300,000

Jul-12

$325,000

Oct-12

$350,000

Jan-12

$375,000

Apr-12

$400,000

Oct-11

$425,000

Jul-11

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

$450,000

 REINZ Hawke's Bay Region Analysis for June 2016
Commentary

Price

Hawke's Bay Region Trends

Sales volumes in Hawke's Bay rose 18% compared to June 2015, with sales rising 27% in Napier and 26% in Hastings.
Compared to May sales volumes fell 16%, with sales rising 1% in Hastings, but falling 18% in Napier and 24% in
Dannevirke. On a seasonally adjusted basis sales for June rose 3% compared to May indicating that sales fell less than
what would normally be expected for June.

The median price rose $35,000 (+13%) compared to June 2015 with prices rising 13% in Dannevirke and by 7% in Napier
and Hastings. Compared to May the median price rose by $5,000 (+2%) with prices rising 16% in Dannevirke and 5% in
Hastings. On a seasonally adjusted basis the median price increased by 4.5% compared to May.

Jun-16
$340,000
$316,600
$214,500
$158,000
$315,000

Napier City
Hastings City
Hawkes Bay Country
Dannevirke
Hawkes Bay

Median Price
May-16
$350,000
$302,000
$363,000
$136,000
$310,000

Vs…
The median days to sell for Hawke's Bay eased by two days in June, from 29 days in May to 31 days in June. The number
of days to sell improved by 21 days compared to June 2015. Over the past 10 years the median number of days to sell for
the Hawke's Bay region in June has been 52 days. The region has just over nine weeks of supply available, a drop of 61%
over the past 12 months.
REINZ Spokesman, Bryan Thomson noted that "Demand remains strong in Hawke's Bay with the Hastings District Council
coming under fire for not rezoning enough land for development, exacerbating an already tight market and the very low
level of listings compared to recent years. This is limiting supply and choice for home buyers."

Jun-15
$319,000
$296,600
$222,500
$140,000
$280,000

May-16
-2.9%
4.8%
-40.9%
16.2%
1.6%

Napier City
Hastings City
Hawke's Bay Country
Dannevirke
Hawke's Bay

Volumes

Jun-16
105
106
10
16
252

Jun-15
6.6%
6.7%
-3.6%
12.9%
12.5%

Days to Sell

Overall

Volume Sold
May-16
128
105
21
21
301

Jun-15
83
84
10
21
213

Vs…

May-16
-18.0%
1.0%
-52.4%
-23.8%
-16.3%

Jun-15
26.5%
26.2%
0.0%
-23.8%
18.3%

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.

Hawke's Bay Region Median Price

Hawke's 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

Hawkes Bay Median Price

12 month MA

Source: REINZ

Hawkes Bay Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jan-12

Apr-12

Jul-11

Oct-11

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

Apr-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

0
Oct-11

$240,000

 REINZ Manawatu/Wanganui Region Analysis for June 2016
Commentary

Price

Manawatu/Wanganui Region Trends

Sales volumes rose 10% compared to June 2015, with sales rising 60% in Manawatu Country, 44% in Levin and 4% in
Feilding. Compared to May sales volumes fell 13%, with sales rising 16% in Levin, but falling 10% in Feilding and 13% in
Palmerston North. On a seasonally adjusted basis sales across the region fell 3.4%, indicating that the fall in sales was
slightly larger than normal.
The median price across the region rose $17,750 (+8%) compared to June 2015 with prices rising 20% in Levin and 12% in
Palmerston North, Feilding and Manawatu Country. Compared to May the median price rose $11,000 (+5%), with prices
rising 8% in Palmerston North and 1% in Feilding, but falling 2% in Wanganui. On a seasonally adjusted basis the median
price increased 5% compared to May.

The number of days to sell eased by one day in June, from 34 days in May to 35 days in June. The number of days to sell
improved by 15 days compared to June 2015. Over the past 10 years the average number of days to sell during June for
the region has been 51 days. There is currently 16 weeks of supply available across the region, a drop of 19 weeks over
the past 12 months.
REINZ Spokesman, Bryan Thomson noted that, "First home buyers continue to be very active in the region, with an
increase in interest from 'out of town' investors on the hunt for better yields. The number of properties available for
sale continues to fall rapidly, with the weeks of inventory falling more than 50% over the past 12 months. Vendor
expectations are lifting, albeit slowly."

Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Jun-16
$325,500
$275,000
$226,500
$227,500
$166,000
$249,000

Median Price
May-16
$302,500
$273,000
$251,000
$265,000
$170,000
$238,000

Jun-15
$290,500
$245,000
$188,250
$203,000
$162,500
$231,250

May-16
7.6%
0.7%
-9.8%
-14.2%
-2.4%
4.6%

Jun-15
12.0%
12.2%
20.3%
12.1%
2.2%
7.7%

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

Volumes

Jun-16
122
28
66
40
55
364

Days to Sell

Overall

Volume Sold
May-16
140
31
57
47
90
418

Jun-15
137
27
46
25
66
330

Vs…

May-16
-12.9%
-9.7%
15.8%
-14.9%
-38.9%
-12.9%

Jun-15
-10.9%
3.7%
43.5%
60.0%
-16.7%
10.3%

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

12 month MA

Source: REINZ

Manawatu/Wanganui Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

Manawatu/Wanganui Median Price

Apr-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

Source: REINZ

Oct-11

$175,000

Oct-12

$200,000

Jan-12

$225,000

Apr-12

$250,000

Jul-11

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

$275,000

 REINZ Taranaki Region Analysis for June 2016
Commentary

Price

Taranaki Region Trends

Sales volume for the Taranaki region rose 30% compared to June 2015 with sales up 67% in Bell Block, 62% in New
Plymouth and 52% in Hawera. Compared to May sales volumes fell by 9% with sales up 25% in Hawera and 6% in New
Plymouth, but falling across the rest of the region. On a seasonally adjusted basis sales rose 12% compared to May,
indicating that the drop in sales was far less than expected for June.

The median price across the region rose $11,750 (+4%) compared to June 2015, with prices up 35% in Bell Block and 7%
in New Plymouth. Compared to May the median price fell $28,250 (-8%) with prices rising 8% in Bell Block, but falling 1%
in Hawera and 8% in New Plymouth. On a seasonally adjusted basis the median price fell 7% compared to May.

Jun-16
$373,500
$163,750
$502,500
$230,000
$315,000

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Median Price
May-16
$406,000
$270,000
$466,500
$232,500
$343,250

Vs…
The number of days to sell improved by three days compared to May, from 42 days in May to 39 days in June.
Compared to June 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 June has averaged 53 days. The level of inventory has fallen by two months over the past
12 months to 21 weeks as at the end of June.
REINZ Spokesman, Bryan Thomson noted that "There are more first home buyers in the market, but at the same time a
continuing drop in the number of listings, putting pressure on buyers to move quickly. The level of listings is thought to
be at its lowest level for many years across almost all price points."

Jun-15
$350,000
$266,000
$372,500
$243,000
$303,250

May-16
-8.0%
-39.4%
7.7%
-1.1%
-8.2%

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Volumes

Jun-16
102
20
10
35
192

Jun-15
6.7%
-38.4%
34.9%
-5.3%
3.9%

Days to Sell

Overall

Volume Sold
May-16
96
40
16
28
212

Jun-15
63
30
6
23
148

Vs…

May-16
6.3%
-50.0%
-37.5%
25.0%
-9.4%

Jun-15
61.9%
-33.3%
66.7%
52.2%
29.7%

Source: REINZ

Taranaki Median Price

12 month MA

Source: REINZ

Taranaki Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jul-11

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

0
Apr-14

$240,000
Oct-13

50

Jul-13

$265,000

Jan-13

100

Apr-13

$290,000

Jul-12

150

Oct-12

$315,000

Apr-12

200

Jan-12

$340,000

Jul-11

250

Oct-11

$365,000

Jan-12

Past 5 Years

Apr-12

Taranaki Region Sales Volumes

Past 5 Years

Oct-11

Taranaki Region Median Price

Jul-15

Graph Commentary
The median price trend is now steady, with the sales volume trend also steady. The days to sell trend continues to rise,
although the overall trend remains steady.

 REINZ Wellington Region Analysis for June 2016
Commentary

Price

Wellington Region Trends

The median price for the Wellington region rose $65,000 (+17%) compared to June 2015. Prices rose 27% in Eastern
Wellington, 23% in Northern Wellington and 21% in Central Wellington and Hutt Valley. Compared to May the median
price fell $10,000 (-2%), with prices rising 9% in Hutt Valley, 4% in Northern Wellington and 2% in Pukerua Bay/Tawa.

Compared to June 2015 sales volumes rose 17% across the region with sales rising 117% in Southern Wellington, 33% in
Eastern Wellington and 25% in Pukerua Bay/Tawa. Compared to May sales volumes fell 7%, with sales rising 59% in
Southern Wellington, 10% in Pukerua Bay/Tawa and 4% in Upper Hutt. On a seasonally adjusted basis sales rose 3.6%
compared to May, indicating that drop in sales for June was less than normal.

The number of days to sell eased by one day in June, from 27 days in May to 28 days in June. Compared to June 2015 the
number of days to sell improved by 16 days. Over the past 10 years the median number of days to sell across the region
in June has averaged 42 days. The Wellington region has the lowest level of properties available, with just seven weeks
supply available.
REINZ Regional Director Euon Murrell noted that, "Demand remains strong across the region, with the number of sales
steadily increasing on a trend basis and the median price settling around the $450,000 mark over the past four months.
Listings remain the problem with supply of properties to the market continuing at very low levels, limiting buyer choice
and increasing competition amongst buyers for the available properties."
Graph Commentary
The trend in the median price remains steady , although the volume trend is now improving. The days to sell trend
continues to rise with the overall trend for the Wellington region still improving.

Jun-16
$403,500
$431,500
$592,500
$476,500
$665,500
$635,000
$580,000
$495,000
$455,000

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

Median Price
May-16
$407,500
$397,000
$570,500
$577,500
$665,500
$713,788
$595,000
$486,250
$465,000

Vs…

Wellington Region Median Price

Jun-15
$335,000
$356,750
$480,000
$395,000
$525,000
$572,000
$564,500
$425,000
$390,000

May-16
-1.0%
8.7%
3.9%
-17.5%
0.0%
-11.0%
-2.5%
1.8%
-2.2%

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

Volumes

Jun-16
84
161
80
62
44
36
65
99
816

Jun-15
20.4%
21.0%
23.4%
20.6%
26.8%
11.0%
2.7%
16.5%
16.7%

Days to Sell

Overall

Volume Sold
May-16
81
176
90
82
46
46
41
90
873

Jun-15
70
150
65
59
33
45
30
79
697

Vs…

May-16
3.7%
-8.5%
-11.1%
-24.4%
-4.3%
-21.7%
58.5%
10.0%
-6.5%

Jun-15
20.0%
7.3%
23.1%
5.1%
33.3%
-20.0%
116.7%
25.3%
17.1%

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

Wellington Median Price

Source: REINZ

Wellington Volumes

Apr-16

Jan-16

Oct-15

Jul-15

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Jan-14

Apr-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jan-12

Apr-12

Jul-11

Jan-16

Apr-16

Oct-15

Jul-15

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Apr-14

Jan-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

0
Jul-11

$360,000
Oct-11

200
Oct-11

400

$380,000

 REINZ Nelson/Marlborough Region Analysis for June 2016
Commentary

Price

Nelson/Marlborough Region Trends

The median price across the region rose $56,100 (+16%) compared to June 2015, with prices rising 25% in Nelson, 19% in
Motueka and 16% in Marlborough/Kaikoura. Compared to May the median price rose $10,000 (+3%) with prices rising
7% in Motueka and 3% in Nelson but falling across the rest of the region.
Sales volume compared to June 2015 fell 13%, with sales rising 6% in Marlborough/Kaikoura, but falling 21% in Nelson
and 41% in Motueka. Compared to May sales volumes fell by 24%, with sales falling 8% in Nelson, 22% in
Marlborough/Kaikoura and 38% in Motueka. On a seasonally adjusted basis sales in June fell 16% compared to May,
indicating that the drop in sales was far larger than what would be expected at this time of the year.
The number of days to sell in April was again steady at 28 days compared to May. Compared to June 2015 the number
of days to sell improved by 19 days. Over the past 10 years the number of days to sell in June across the region has
averaged 43 days. The level of inventory available for sale has fallen by half over the past 12 months and is now just over
12 weeks.
REINZ Spokesman, Bryan Thomson noted that "There is an increasing number of first home buyers and investors active
across the region with the number of properties for sale continuing to decline. Multiple offers are becoming increasingly
common, with buyers having to move quickly to secure purchases. At the same time the steady upward trend in the
median price is fueling vendor expectations."

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Jun-16
$450,000
$485,050
$422,000
$339,000
$405,000

Median Price
May-16
$436,175
$505,000
$393,000
$351,501
$395,000

Vs…

Jun-15
$360,000
$509,500
$356,000
$293,500
$348,900

May-16
3.2%
-4.0%
7.4%
-3.6%
2.5%

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Volumes

Jun-16
72
12
13
102
217

Jun-15
25.0%
-4.8%
18.5%
15.5%
16.1%

Days to Sell

Overall

Volume Sold
May-16
78
38
21
131
286

Jun-15
91
25
22
96
248

Vs…

May-16
-7.7%
-68.4%
-38.1%
-22.1%
-24.1%

Jun-15
-20.9%
-52.0%
-40.9%
6.3%
-12.5%

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

12 month MA

Source: REINZ

Nelson/Marlborough Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jan-12

Apr-12

Jul-11

Oct-11

Jan-16

Apr-16

Oct-15

Jul-15

Jan-15

Apr-15

Jul-14

Oct-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Oct-12

Jul-12

Apr-12

Jan-12

Jul-11

0
Oct-11

$275,000

 REINZ Canterbury/Westland Region Analysis for June 2016

Sales volume across the region rose by 19% compared to June 2015, with sales rising 86% in North Canterbury, 68% in
South Canterbury and 48% on the West Coast. Compared to May sales volumes fell 5%, with sales volumes rising 64% in
North Canterbury, 30% in South Canterbury and 24% on the West Coast. On a seasonally adjusted basis the volume of
sales rose by 3.2% compared to May.
The median price rose $7,000 (+2%) compared to June 2015, with prices rising 9% in Mid-Canterbury, 7% in Rangiora and
5% in North Canterbury. Compared to May the median price fell $10,500 (-2%) with prices rising 11% in Timaru, 8% in
Rangiora and 7% in North Canterbury, but falling across the rest of the region.
REINZ Regional Director, Jim Davis commented that, "Demand remains strong across the region with noticeable
increases in sale volumes across regional Canterbury. The West Coast is also seeing increased first home buyer and
investor interest from Canterbury and the North Island, indicating that the search for yield outside the main centres is
continuing apace for investors. Listings across the region continue to decline in line with the onset of winter, but
demand remains strong. "
The number of days to sell was steady compared to May at 32 days. Compared to June 2015 the number of days to sell
improved by one day. Over the past 10 years the average number of days to sell in June across the region has been 35
days. The level of inventory has declined by 17% over the past 12 months to 19 weeks, a relatively modest fall compared
to many other regions.
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.

Jun-16
$440,000
$475,000
$421,500
$366,000
$322,000
$265,000
$180,000
$425,000

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

Median Price
May-16
$455,000
$441,250
$395,000
$367,500
$289,000
$300,500
$197,500
$435,500

Vs…

Price

Jun-15
$431,650
$445,000
$400,350
$336,250
$313,128
$255,000
$243,000
$418,000

May-16
-3.3%
7.6%
6.7%
-0.4%
11.4%
-11.8%
-8.9%
-2.4%

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

Volumes

Jun-15
1.9%
6.7%
5.3%
8.8%
2.8%
3.9%
-25.9%
1.7%

Jun-16
607
38
54
50
45
52
31
979

Days to Sell

Overall

Volume Sold
May-16
671
34
33
56
63
40
25
1,034

Jun-15
552
26
29
32
50
31
21
824

May-16
-9.5%
11.8%
63.6%
-10.7%
-28.6%
30.0%
24.0%
-5.3%

Jun-15
10.0%
46.2%
86.2%
56.3%
-10.0%
67.7%
47.6%
18.8%

Vs…

Source: REINZ

12 month MA

Source: REINZ

12 month MA

Oct-15

Jul-15

Jan-15

Apr-15

Jul-14

Oct-14

Jan-14

Canterbury/Westland Volumes

Apr-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jul-11

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

Canterbury/Westland Median Price

Apr-14

0
Oct-13

200

$300,000
Jul-13

$320,000
Jan-13

400

Apr-13

600

$340,000

Jul-12

800

$360,000

Oct-12

$380,000

Apr-12

1,000

Jan-12

1,200

$400,000

Jul-11

1,400

$420,000

Oct-11

$440,000

Jan-12

Past 5 Years

Apr-12

Canterbury/Westland Region Sales Volumes

Past 5 Years

Oct-11

Canterbury/Westland Region Median Price

Apr-16

Canterbury/Westland Region Trends

Jan-16

Commentary

 REINZ Central Otago Lakes Region Analysis for June 2016
Commentary

Price

Central Otago Lakes Region Trends

Sales volume for the Central Otago Lakes Region rose by 15% compared to June 2015, with sales up 21% in Central and
10% in Queenstown. Compared to May, sales volume fell 29%, with sales falling 28% in Queenstown and 31% in Central.
On a seasonally adjusted basis sales fell by 10% in June.
The median price across the region rose $217,550 (+42%) compared to June 2015 to reach another record high. Prices
rose 27% in Central and 26% in Queenstown. Compared to May, the median price rose $22,800 (+3%) with prices rising
4% in Queenstown but falling 8% in Central. On a seasonally adjusted basis the median price increased by 4.8% in June.

The number of days to sell eased by five days compared to May, from 33 days in May to 38 days in June. Compared to
June 2015 the number of days to sell improved by 12 days. Over the past 10 years the average number of days to sell in
June across the region has been 59 days. The level of inventory has fallen by 24 weeks over the past 12 months and now
stands at just 13 weeks.

Jun-16
$468,500
$854,500
$730,050

Central
Queenstown
Central Otago Lakes

Volumes

Median Price
May-16
Jun-15
$508,500
$369,000
$818,500
$678,500
$707,250
$512,500

Vs…

May-16
-7.9%
4.4%
3.2%

Central
Queenstown
Central Otago Lakes

Jun-16
58
68
126

Jun-15
27.0%
25.9%
42.4%

Days to Sell

Overall

Volume Sold
May-16
84
94
178

Jun-15
48
62
110

Vs…

May-16
-31.0%
-27.7%
-29.2%

Jun-15
20.8%
9.7%
14.5%

REINZ Regional Director, Gail Hudson commented that "The median price across the region continues to rise due in no
small part to the rise of auction sales and the shortage of available properties for sale, which remain at very low levels
compared to the level of demand. While not traditionally an option for vendors, auctions are now far more
commonplace, with over 23% sales over the past five months by auction."
Graph Commentary
The median price trend is now rising with the volume trend also continuing to rise. The days to sell trend also rising and
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

12 month MA

Source: REINZ

Central Otago Lakes Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

Central Otago Lakes Median Price

Apr-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

Source: REINZ

Oct-11

$375,000

Jan-13

$425,000

Apr-13

$475,000

Jul-12

$525,000

Oct-12

$575,000

Jan-12

$625,000

Apr-12

$675,000

Jul-11

200
180
160
140
120
100
80
60
40
20
0

$725,000

Oct-11

$775,000

 REINZ Otago Region Analysis for June 2016
Commentary

Otago Region Trends

The median price across Otago rose $46,000 (+19%) compared with June 2015, with prices rising 32% in North Otago and
20% in South Otago and 12% in Dunedin to reach a new record high. Compared to May the median price rose by $14,000
(+5%) with prices rising 4% in Dunedin but falling 1% in North Otago and 15% in South Otago.
Sales across the region rose 12% compared to June 2015 with sales rising 23% in South Otago, 15% in Dunedin and 2% in
North Otago. Compared to May sales volumes fell 25%, with sales rising 19% in South Otago, but falling 28% in Dunedin
and 29% in North Otago. On a seasonally adjusted basis sales fell 7.6% in June indicating that sales fell by more than
expected.
The number of days to sell in Otago improved by six days in June from 31 days in May to 25 days in June. Compared to
June 2015 the number of days to sell improved by 12 days. Over the past 10 years the average number of days to sell in
Otago in June was 41 days. The number of properites for sale has fallen by half over the past year with just under 11
weeks of supply available.

Jun-16
$320,000
$250,750
$148,000
$295,000

Dunedin
North Otago
South Otago
Otago

Price
Median Price
May-16
$307,000
$253,000
$175,000
$281,000

Vs…

Jun-15
$285,000
$190,000
$123,500
$249,000

May-16
4.2%
-0.9%
-15.4%
5.0%

Dunedin
North Otago
South Otago
Otago

Volumes

Jun-16
187
44
32
269

Jun-15
12.3%
32.0%
19.8%
18.5%

Days to Sell

Overall

Volume Sold
May-16
259
62
27
358

Jun-15
163
43
26
240

Vs…

May-16
-27.8%
-29.0%
18.5%
-24.9%

Jun-15
14.7%
2.3%
23.1%
12.1%

REINZ Regional Commentator, Liz Nidd commented that, "First home buyers are having to act more quickly to secure
properties with demand remaining strong and the number of properties available for sale continuing to decline.
Investors are also continuing to be attracted to the Otago region and more particularly the Dunedin market pushing up
vendor expectations and putting pressure on prices."
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

Otago Median Price

12 month MA

Source: REINZ

Otago Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jan-16

Apr-16

Jul-15

Oct-15

Apr-15

Jan-15

Jul-14

Oct-14

Jan-14

Apr-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

Source: REINZ

Oct-11

$220,000

Jul-12

$240,000

Oct-12

$260,000

Jan-12

$280,000

Apr-12

$300,000

Jul-11

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

$320,000

 REINZ Southland Region Analysis for June 2016
Commentary

Southland Region Trends

The median price across Southland fell $21,000 (-10%) compared to May, with prices falling 4% in Invercargill and 5% in
Gore. Compared to June 2015 the median price fell $16,000 (-8%) with prices falling 1% in Invercargill and 33% in Gore.
Sales volumes rose 39% compared to June 2015, with a 31% increase in Invercargill but flat in Gore. Compared to May
sales volumes fell 14% with sales falling 9% in Invercargill and 14% in Gore. On a seasonally adjusted basis sales fell 4%
compared to May indicating that the drop in sales was larger than normal.
The number of days to sell in Southland eased by three days in June from 39 days in May to 42 days in June. Compared
to June 2015 the number of days to sell improved by 12 days. Over the past 10 years the number of days to sell in June
for the Southland region has been 42 days. The number of properties for sale has fallen by 53% over the past year to
just over 18 weeks at the end of June.

Jun-16
$202,500
$139,000
$189,000

Invercargill
Gore
Southland

Price

Volumes

Median Price
May-16
Jun-15
$211,750
$204,000
$146,000
$208,500
$210,000
$205,000

Vs…

May-16
-4.4%
-4.8%
-10.0%

Invercargill
Gore
Southland

Jun-16
131
24
193

Jun-15
-0.7%
-33.3%
-7.8%

Days to Sell

Overall

Volume Sold
May-16
144
28
223

Jun-15
100
24
139

Vs…

May-16
-9.0%
-14.3%
-13.5%

Jun-15
31.0%
0.0%
38.8%

REINZ Spokesman, Bryan Thomson commented that, "The Southland market continues to see strong sales volumes with
year on year growth of almost 40%. The listing situation is not as severe in Southland compared to other parts of the
country, thus the price response has been muted thus far. However, the number of purchasers is continuing to increase
and sales volumes continue to trend upward."
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

Southland Median Price

Source: REINZ

Southland Volumes

12 month MA

Apr-16

Jan-16

Oct-15

Jul-15

Apr-15

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Jul-13

Oct-13

Jan-13

Apr-13

Jul-12

Oct-12

Jan-12

Apr-12

Jul-11

Oct-11

Jan-16

Apr-16

Oct-15

Jul-15

Jan-15

12 month MA

Apr-15

Jul-14

Oct-14

Apr-14

Jan-14

Oct-13

Jul-13

Jan-13

Apr-13

Jul-12

Oct-12

Apr-12

Jan-12

Jul-11

0
Oct-11

$150,000