REINZ Auckland Region Analysis for July 2016
Commentary

Price

Auckland Region Trends

Sales volumes in the Auckland region fell 8% compared to June, with volumes flat in Waitakere but down 9% in North
Shore City and Auckland City, and down 11% in Outer Auckland. Compared to July 2015 sales fell 20% with volume down
13% in Waitakere, 17% in Auckland City and 18% in Outer Auckland. On a seasonally adjusted basis, the number of sales
in the Auckland region fell 4% compared to June.
Compared to July 2015 the median price rose by $90,000 (+12%) with prices rising 19% in Rodney, 18% in Manukau and
13% in North Shore City. Compared to June the median price rose by $4,000 (+0.5%) , with pricing rising 7% in Manukau
City, 2% in Waitakere City and falling by 1% in North Shore City. On a seasonally adjusted basis Auckland's median price
rose 1.0% compared to June. The median price in Auckland reached a new record high of $825,000 in July.

The number of days to sell was steady compared to June at 30 days. Compared to July 2015, the number of days to sell
eased by one day. Over the past 10 years the average number of days to sell during July for Auckland has been 34 days.
Across the Auckland region the level of available inventory has increased slightly, but is still below 10 weeks supply.
REINZ spokesman Bryan Thomson noted: "Sales volumes remain below previous periods as the continued shortage of
supply impacts buyer choice. We will watch market reaction with interest as the expected increase in listing numbers
during the spring and summer selling period become available and the market assesses the impact of the recently
announced LVR rule changes, the approval or otherwise of the Auckland Unitary Plan and expected RBNZ rate cut."
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.

Median Price
Jul-16
Jun-16
$1,062,500 $1,068,500
$803,000
$784,250
$837,000
$850,000
$805,000
$753,500
$857,500
$842,000
$852,500
$870,000
$672,000
$748,000
$825,000
$821,000

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

Vs…

Jul-15
$939,000
$711,000
$775,000
$685,000
$758,000
$719,000
$628,515
$735,000

Jun-16
-0.6%
2.4%
-1.5%
6.8%
1.8%
-2.0%
-10.2%
0.5%

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

Volumes

Jul-15
13.2%
12.9%
8.0%
17.5%
13.1%
18.6%
6.9%
12.2%

Jul-16
408
350
817
473
2,149
178
371
2,520

Days to Sell

Overall

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

Jul-15
555
400
979
627
2,707
238
453
3,160

Jun-16
-8.9%
0.0%
-8.6%
-12.1%
-7.5%
-23.6%
-10.6%
-7.9%

Jul-15
-26.5%
-12.5%
-16.5%
-24.6%
-20.6%
-25.2%
-18.1%
-20.3%

Vs…

Auckland Region Median Price

Auckland Region Sales Volumes

Past 5 Years

Past 5 Years
4,000

$850,000
$800,000
$750,000
$700,000
$650,000
$600,000
$550,000
$500,000
$450,000
$400,000

3,500
3,000
2,500
2,000
1,500
1,000
500

Auckland Median Price

Source: REINZ

Auckland Volumes

May-16

Feb-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

Feb-14

May-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Feb-12

May-12

Nov-11

Aug-11

Feb-16

May-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

May-14

Feb-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

Source: REINZ

Nov-11

0

 REINZ Northland Region Analysis for July 2016
Commentary

Price

Northland Region Trends

Sales volume growth in Northland has slowed, with volumes down 2% compared to July 2015. Sales increased 13% in
Whangarei City, but fell 19% in Whangarei Country and 22% in Otamatea County. Compared to June, sales volumes fell
14% across the region, with a 2% fall in Whangarei City, 5% in Kerikeri and a 9% fall in Whangarei County. On a
seasonally adjusted basis sales were down 7% compared to June.
The median price across the region rose by $51,000 (+16%) compared to July 2015 to reach a new record high, with
prices rising 45% in Otamatea County, 39% in Whangarei County and 32% in Kerikeri. Compared to June, the median
price rose by $16,000 (+4%) with prices rising 21% in Otamatea County, 16% in Whangarei County and 16% in Kerikeri.
On a seasonally adjusted basis the median price increased by 6% compared to June.

Jul-16
$360,500
$622,000
$645,000
$585,000
$376,000

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

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

Jul-15
$280,000
$448,500
$445,000
$442,500
$325,000

Jun-16
2.6%
16.3%
20.9%
15.5%
4.4%

Jul-15
28.8%
38.7%
44.9%
32.2%
15.7%

Vs…
The number of days to sell improved by eight days compared to June, from 42 days in June to 34 days in July. The
number of days to sell improved by 18 days compared to July 2015. Over the past 10 years the average number of days
to sell during July for Northland has been 59 days. The level of inventory available has halved over the past year.
REINZ spokesman Bryan Thomson noted: "The Northland market remains active, with an increase in listings being
matched to some extent by an increase in buyer interest. We will watch the expected increase in listings numbers in the
spring and the impact, if any, in the recently announced LVR restrictions in the coming months."

Volumes

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Days to Sell

Jul-16
114
29
21
21
262

Overall

Volume Sold
Jun-16
116
32
40
22
305

Jul-15
101
36
27
34
266

Jun-16
-1.7%
-9.4%
-47.5%
-4.5%
-14.1%

Jul-15
12.9%
-19.4%
-22.2%
-38.2%
-1.5%

Vs…

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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Feb-12

May-12

Aug-11

Nov-11

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

Source: REINZ

Nov-11

0

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

Waikato/Bay of Plenty Region Trends

Sales volumes compared to June fell 6%, with sales rising in Gisborne by 22%, Taupo by 21%, Eastern BOP Country by
10% and 7% in Hamilton but falling across the rest of the region. Compared to July 2015 sales across the region fell 14%
with sales rising 74% in Gisborne, 21% in Taupo and 15% in Rotorua. On a seasonally adjusted basis, sales for July fell 4%.

The median price across the region rose $92,750 (+26%) compared to July 2015 to reach another record high, the eighth
in the past nine months. Prices rose 39% in Eastern BOP Country, 31% in Hamilton and 26% in Rotorua. Compared to
June the median price rose $12,000 (+3%), with prices rising 17% in Eastern BOP Country, 11% in Rotorua and 5% in
Hamilton. On a seasonally adjusted basis prices rose 3% compared to June.

The number of days to sell improved by two days in July, from 32 days in June to 30 days in July. The number of days to
sell improved by six days compared to July 2015. Over the past 10 years the average number of days to sell during July
for the region has been 51 days. The region has just over 10 weeks of supply available, a drop of 39% over the past year.

REINZ Regional Director Philip Searle noted: "We will watch any impact on investor activity due to the announcement of
new LVR restrictions with interest, although underlying first home buyer demand remains solid with the changes to the
Kiwisaver rules for first home buyers. The shortage of listings remains acute in some parts of the region, with the limited
availability of properties restricting choice and generating continuing competition between buyers."
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

Jul-16
$510,000
$335,000
$544,000
$647,500
$315,050
$387,500
$326,500
$249,000
$450,000

Price

Volumes

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

Jul-15
$389,000
$275,500
$437,000
$530,000
$250,000
$346,000
$235,000
$235,000
$357,250

Jun-16
5.2%
-6.0%
-2.3%
-7.2%
10.5%
4.0%
17.0%
0.2%
2.7%

Jul-15
31.1%
21.6%
24.5%
22.2%
26.0%
12.0%
38.9%
6.0%
26.0%

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

Jul-16
363
242
126
108
138
80
67
66
1,335

Days to Sell
Volume Sold
Jun-16
341
266
168
121
179
66
61
54
1,414

Jul-15
404
348
216
125
120
66
63
38
1,560

Jun-16
6.5%
-9.0%
-25.0%
-10.7%
-22.9%
21.2%
9.8%
22.2%
-5.6%

Jul-15
-10.1%
-30.5%
-41.7%
-13.6%
15.0%
21.2%
6.3%
73.7%
-14.4%

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

May-16

Feb-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

Feb-14

May-14

Aug-13

Nov-13

Feb-13

Feb-16

May-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

May-14

Feb-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

Source: REINZ

Nov-11

$300,000

May-13

$325,000

Aug-12

$350,000

Nov-12

$375,000

Feb-12

$400,000

May-12

$425,000

Nov-11

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

$450,000

Aug-11

$475,000

Overall

 REINZ Hawke's Bay Region Analysis for July 2016
Commentary

Price

Hawke's Bay Region Trends

Sales volumes in Hawke's Bay fell by 3% compared to June, with sales rising 90% in Hawke's Bay Country and 63% in
Dannevirke, but falling 26% in Hastings and 3% in Napier. Compared to July 2015 sales volumes fell 16%, with sales rising
117% in Dannevirke but falling 29% in Hastings and 24% in Napier. On a seasonally adjusted basis, sales for July fell 8%
compared to June.
The median price rose $18,000 (+6%) compared to July 2015 with prices rising 77% in Hawke's Bay Country, 23% in
Hastings and 10% in Napier. Compared to June, the median price fell $5,000 (-2%) with prices rising 35% in Hawke's Bay
Country and 8% in Napier, but falling across the rest of the region. On a seasonally adjusted basis, the median price fell
2% compared to June.
The median days to sell for Hawke's Bay was steady at 31 compared to June. The number of days to sell improved by 13
days compared to July 2015. Over the past 10 years the median number of days to sell for the Hawke's Bay region in July
has been 50 days. The region has just over nine weeks of supply available, a drop of 57% over the past 12 months.
REINZ spokesman Bryan Thomson noted: "Demand remains strong across the region, with low levels of properties
available for sale restricting buyer choice. Any impact on investor activity due to the announcement of new LVR
restrictions will be interesting to see, although underlying first home buyer demand remains solid with the changes to
the Kiwisaver rules for first home buyers."

Jul-16
$366,000
$310,000
$290,000
$152,500
$310,000

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

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

Vs…

Jul-15
$332,500
$253,000
$163,500
$155,000
$292,000

Jun-16
7.6%
-2.1%
35.2%
-3.5%
-1.6%

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

Volumes

Jul-16
102
79
19
26
245

Jul-15
10.1%
22.5%
77.4%
-1.6%
6.2%

Days to Sell

Overall

Volume Sold
Jun-16
105
106
10
16
252

Vs…

Jul-15
134
111
22
12
292

Jun-16
-2.9%
-25.5%
90.0%
62.5%
-2.8%

Jul-15
-23.9%
-28.8%
-13.6%
116.7%
-16.1%

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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Feb-12

May-12

Aug-11

Nov-11

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

0
Nov-11

$240,000

 REINZ Manawatu/Wanganui Region Analysis for July 2016
Commentary

Price

Manawatu/Wanganui Region Trends

Sales volumes rose 26% compared to July 2015, with sales rising 50% in Wanganui, 35% in Palmerston North and 10% in
Levin. Compared to June sales volumes fell 3%, with sales rising 36% in Wanganui and 15% in Palmerston North, but
falling across the rest of the region. On a seasonally adjusted basis sales across the region fell 3%.
The median price across the region rose $35,500 (+16%) compared to July 2015 to reach a new record high. Prices rose
40% in Levin, 24% in Wanganui and 20% in Feilding. Compared to June the median price rose $16,000 (+6%), with prices
rising 14% in Feilding, 11% in Wanganui and 9% in Levin. On a seasonally adjusted basis the median price increased 4%
compared to June.

The number of days to sell improved by one day in July, from 35 days in June to 34 days in July. The number of days to
sell improved by 21 days compared to July 2015. Over the past 10 years the average number of days to sell during July
for the region has been 52 days. There is currently 16 weeks of supply available across the region, a drop of 13 weeks
over the past 12 months.
REINZ spokesman Bryan Thomson noted: "The first home buyer market remains very active with quick sales and
increasing number of multiple offers. The comparatively low levels of properties available for sale is also impacting on
the rate of sales, with a slight increase in the number of listings well short of the underlying demand across the region."

Jul-16
$331,750
$312,500
$247,000
$217,500
$185,000
$265,000

Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Median Price
Jun-16
$325,500
$275,000
$226,500
$272,000
$166,000
$249,000

Jul-15
$304,000
$261,000
$176,000
$205,000
$149,500
$229,500

Jun-16
1.9%
13.6%
9.1%
-20.0%
11.4%
6.4%

Jul-15
9.1%
19.7%
40.3%
6.1%
23.7%
15.5%

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

Volumes

Jul-16
140
26
43
28
75
354

Days to Sell

Overall

Volume Sold
Jun-16
122
28
66
40
55
364

Vs…

Jul-15
104
38
39
29
50
282

Jun-16
14.8%
-7.1%
-34.8%
-30.0%
36.4%
-2.7%

Jul-15
34.6%
-31.6%
10.3%
-3.4%
50.0%
25.5%

Graph Commentary
The median price trend is now steady, 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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

Manawatu/Wanganui Median Price

May-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

Source: REINZ

Nov-11

$175,000

Nov-12

$200,000

Feb-12

$225,000

May-12

$250,000

Aug-11

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

$275,000

 REINZ Taranaki Region Analysis for July 2016
Commentary

Price

Taranaki Region Trends

Sales volumes for the Taranaki region rose 2% compared to July 2015 with sales up 19% in New Plymouth but down
across the rest of the region. Compared to June, sales volumes fell by 9%, with sales up 40% in Bell Block but down 20%
in Taranaki Country and Hawera, and down 16% in New Plymouth. On a seasonally adjusted basis, sales rose 1%
compared to June.
The median price across the region rose $25,500 (+9%) compared to July 2015, with prices up 8% in Taranaki Country,
but down across the rest of the region. Compared to June the median price rose $5,000 (+2%) with prices rising 22% in
Taranaki Country, but falling 1% in New Plymouth, 16% in Hawera and 18% in Bell Block.
The number of days to sell improved by seven days compared to June, from 39 days in June to 32 days in July. Compared
to July 2015 the number of days to sell improved by four days. Over the past 10 years the median number of days to sell
across the region in July has averaged 48 days. The level of inventory has fallen by 12 weeks over the past 12 months to
17 weeks as at the end of July.

REINZ spokesman Bryan Thomson noted: "Feedback from the banks is indicating an increase in loans for renovations,
indicating the owners are preferring to stay put rather than sell and buy elsewhere. The level of inventory, although
higher than most other regions, is still quite low for Taranaki, with a further drop over the past month."

Jul-16
$369,500
$199,500
$413,500
$194,000
$320,000

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

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

Vs…

Jul-15
$377,500
$185,000
$417,500
$215,000
$294,500

Jun-16
-1.1%
21.8%
-17.7%
-15.7%
1.6%

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Volumes

Jul-16
86
16
14
28
175

Jul-15
-2.1%
7.8%
-1.0%
-9.8%
8.7%

Days to Sell

Overall

Volume Sold
Jun-16
102
20
10
35
192

Vs…

Jul-15
72
27
15
29
172

Jun-16
-15.7%
-20.0%
40.0%
-20.0%
-8.9%

Jul-15
19.4%
-40.7%
-6.7%
-3.4%
1.7%

Source: REINZ

Taranaki Median Price

12 month MA

Source: REINZ

Taranaki Volumes

12 month MA

May-16

Feb-16

Nov-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Aug-11

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

0
May-14

$240,000
Nov-13

50

Aug-13

$265,000

Feb-13

100

May-13

$290,000

Aug-12

150

Nov-12

$315,000

May-12

200

Feb-12

$340,000

Aug-11

250

Nov-11

$365,000

Feb-12

Past 5 Years

May-12

Taranaki Region Sales Volumes

Past 5 Years

Nov-11

Taranaki Region Median Price

Aug-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 July 2016
Commentary

Price

Wellington Region Trends

The median price for the Wellington region rose $54,250 (+14%) compared to July 2015. Prices rose 37% in Eastern
Wellington, 25% in Northern Wellington and 19% in Pukerua Bay/Tawa. Compared to June, the median price fell $5,000 (1%), with prices rising 7% in Western Wellington, 6% in Eastern Wellington and 3% in Northern Wellington. On a
seasonally adjusted basis the median price rose 1%.

Compared to July 2015 sales volumes rose 2% across the region with sales rising 18% in Upper Hutt, 7% in Southern
Wellington and 4% in Northern Wellington. Compared to June sales volumes fell 13%, with sales rising 19% in Central
Wellington and 11% in Upper Hutt but falling across the rest of the region. On a seasonally adjusted basis sales fell 3.6%
compared to June.

The number of days to sell improved by one day in July, from 28 days in June to 27 days in July. Compared to July 2015
the number of days to sell improved by 17 days. Over the past 10 years the median number of days to sell across the
region in July has averaged 42 days. The Wellington region has the lowest level of properties available, with less than six
weeks supply.

REINZ Regional Director Euon Murrell noted: "The Wellington market remains highly competitive due to high levels of
buyer interest and critical shortage of property available for purchase. This lack of choice is driving competition between
buyers and is seeing an increased level of price expectation by vendors."

Graph Commentary
The trend in the median price is now improving , 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.

Jul-16
$407,000
$425,000
$612,000
$466,500
$708,000
$680,000
$575,000
$500,250
$450,000

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

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

Vs…

Wellington Region Median Price

Days to Sell

Overall

Volume Sold
Jun-16
93
84
149
161
73
80
74
62
32
44
21
36
32
65
66
99
712
816

Jul-15
$374,000
$379,168
$488,500
$410,000
$516,000
$580,000
$495,000
$421,000
$395,750

Jun-16
0.9%
-1.5%
3.3%
-2.1%
6.4%
7.1%
-0.9%
1.1%
-1.1%

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

Volumes

Jul-16

Jul-15
8.8%
12.1%
25.3%
13.8%
37.2%
17.2%
16.2%
18.8%
13.7%

Vs…

Jul-15
79
146
70
75
33
31
30
79
697

Jun-16
10.7%
-7.5%
-8.8%
19.4%
-27.3%
-41.7%
-50.8%
-33.3%
-12.7%

Jul-15
17.7%
2.1%
4.3%
-1.3%
-3.0%
-32.3%
6.7%
-16.5%
2.2%

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

May-16

Feb-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

Feb-14

May-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Feb-12

May-12

Aug-11

Feb-16

May-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

May-14

Feb-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

0
Nov-11

200

$360,000

Nov-11

400

$380,000

 REINZ Nelson/Marlborough Region Analysis for July 2016
Commentary

Price

Nelson/Marlborough Region Trends

The median price across the region rose $26,500 (+7%) compared to July 2015, with prices rising 30% in Richmond, 21%
in Motueka and 5% in Nelson. Compared to June the median price fell $3,500 (-1%) with prices rising 19% in Motueka
11% in Richmond and 2% in Marlborough/Kaikoura.

Sales volume compared to June fell 1%, with sales rising 75% in Richmond and 3% in Nelson, but falling across the rest of
the region. Compared to July 2015 sales volumes fell 15%, with sales falling 13% in Marlborough/Kaikoura, 17% in
Nelson and 28% in Richmond. On a seasonally adjusted basis, sales in July rose 10% compared to June.
The number of days to sell in July improved by two days compared to June, from 28 days in June to 26 days in July.
Compared to July 2015 the number of days to sell improved by 10 days. Over the past 10 years the number of days to
sell in July across the region has averaged 40 days. The level of inventory available for sale has increased by three weeks
over the past month to 15 weeks of supply.
REINZ spokesman Bryan Thomson noted: "The upward trend in the median price is seeing some homes priced out of the
first home buyer market despite low interest rates and changes to Kiwisaver for first home buyers. An increase in the
numbers of properties available for sale is helping. However, the overall level of inventory remains low by historical
standards."

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Jul-16
$411,000
$537,520
$502,500
$345,000
$401,500

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

Vs…

Jul-15
$392,000
$413,000
$415,000
$335,000
$375,000

Jun-16
-8.7%
10.8%
19.1%
1.8%
-0.9%

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Volumes

Jul-16
74
21
12
91
215

Jul-15
4.8%
30.2%
21.1%
3.0%
7.1%

Days to Sell

Overall

Volume Sold
Jun-16
72
12
13
102
217

Vs…

Jul-15
89
29
20
105
254

Jun-16
2.8%
75.0%
-7.7%
-10.8%
-0.9%

Jul-15
-16.9%
-27.6%
-40.0%
-13.3%
-15.4%

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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Feb-12

May-12

Aug-11

Nov-11

Feb-16

May-16

Nov-15

Aug-15

Feb-15

May-15

Aug-14

Nov-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Nov-12

Aug-12

May-12

Feb-12

Aug-11

0
Nov-11

$275,000

 REINZ Canterbury/Westland Region Analysis for July 2016

Sales volume across the region fell by 2% compared to July 2015, with sales rising 59% along the West Coast and flat in
Timaru, but falling across the rest of the region. Compared to June sales volumes fell 8%, with sales volumes rising 22%
in Timaru, but falling 7% in Christchurch and 13% on the West Coast. On a seasonally adjusted basis, the volume of sales
fell by 6% compared to June.
The median price rose $10,000 (+2%) compared to July 2015, with prices rising 72% in West Coast, 20% in South
Canterbury and 19% in North Canterbury. Compared to June the median price was steady at $425,000 with prices rising
43% in West Coast, 10% in North Canterbury and 4% in South Canterbury.

The number of days to sell in July eased by one day compared to June, from 32 days in June to 33 days in July. Compared
to July 2015 the number of days to sell also eased by one day. Over the past 10 years the number of days to sell in July
across the region has averaged 35 days. The level of inventory available for sale is now 17 weeks compared to 21 weeks
in July 2015.

REINZ Regional Director Jim Davis commented: "Demand remains strong across the region with increases in sale volumes
across parts of regional Canterbury and on the West Coast. North Island buyers are becoming more active on the West
Coast. The market overall remains tight, with the level of inventory low by historical standards."
Graph Commentary
The median price trend continues to ease, 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.

Jul-16
$437,500
$404,500
$464,500
$317,000
$323,500
$276,500
$257,500
$425,000

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

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

Vs…

Price

Jul-15
$430,000
$445,000
$389,000
$331,250
$328,000
$231,000
$150,000
$415,000

Jun-16
-0.6%
-14.8%
10.2%
-13.4%
0.5%
4.3%
43.1%
0.0%

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

Volumes

Jul-15
1.7%
-9.1%
19.4%
-4.3%
-1.4%
19.7%
71.7%
2.4%

Jul-16
567
28
34
34
55
40
27
900

Days to Sell
Volume Sold
Jun-16
607
38
54
50
45
52
31
979

Jul-15
574
37
35
48
55
46
17
921

Jun-16
-6.6%
-26.3%
-37.0%
-32.0%
22.2%
-23.1%
-12.9%
-8.1%

Jul-15
-1.2%
-24.3%
-2.9%
-29.2%
0.0%
-13.0%
58.8%
-2.3%

Vs…

Source: REINZ

12 month MA

Source: REINZ

12 month MA

Nov-15

Aug-15

Feb-15

May-15

Aug-14

Nov-14

Feb-14

Canterbury/Westland Volumes

May-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Aug-11

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

Canterbury/Westland Median Price

May-14

Nov-13

Aug-13

0
Feb-13

200

$300,000
May-13

400

$320,000
Aug-12

600

$340,000

Nov-12

$360,000

May-12

800

Feb-12

1,000

$380,000

Aug-11

1,200

$400,000

Nov-11

1,400

$420,000

Feb-12

Past 5 Years

May-12

Canterbury/Westland Region Sales Volumes

Past 5 Years

Nov-11

Canterbury/Westland Region Median Price
$440,000

Overall

May-16

Canterbury/Westland Region Trends

Feb-16

Commentary

 REINZ Central Otago Lakes Region Analysis for July 2016
Commentary

Price

Central Otago Lakes Region Trends

Sales volume for the Central Otago Lakes Region rose by 2% compared to June, with sales up 35% in Central but down
25% in Queenstown. Compared to July 2015, sales volume fell 12%, with sales falling 1% in Central and 24% in
Queenstown. On a seasonally adjusted basis sales rose by 7% in July.

The median price across the region rose $160,000 (+32%) compared to July 2015, with prices rising 39% in Queenstown
and 21% in Central. Compared to June, the median price fell $70,050 (-10%) with prices rising 7% in Queenstown and 5%
in Central. On a seasonally adjusted basis the median price fell 3% in July.
The number of days to sell improved by one day compared to June, from 38 days in June to 37 days in July. Compared to
July 2015 the number of days to sell improved by 12 days. Over the past 10 years the average number of days to sell in
July across the region has been 72 days. The level of inventory has fallen by 20 weeks over the past 12 months and now
stands at 16 weeks.

Jul-16
$490,000
$910,000
$660,000

Central
Queenstown
Central Otago Lakes

Volumes

Median Price
Jun-16
Jul-15
$468,500
$405,000
$854,500
$655,000
$730,050
$500,000

Vs…

Jun-16
4.6%
6.5%
-9.6%

Central
Queenstown
Central Otago Lakes

Days to Sell

Overall

Volume Sold
Jun-16
78
58
51
68
129
126

Jul-16

Jul-15
21.0%
38.9%
32.0%

Vs…

Jul-15
79
67
146

Jun-16
34.5%
-25.0%
2.4%

Jul-15
-1.3%
-23.9%
-11.6%

REINZ Regional Director Gail Hudson commented: "The market remains robust with increasing sales volume and prices in
Central. Inventory levels remain low which is helping to support the price expectations of vendors. "

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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

Central Otago Lakes Median Price

May-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

Source: REINZ

Nov-11

$375,000

Feb-13

$425,000

May-13

$475,000

Aug-12

$525,000

Nov-12

$575,000

Feb-12

$625,000

May-12

$675,000

Aug-11

200
180
160
140
120
100
80
60
40
20
0

$725,000

Nov-11

$775,000

 REINZ Otago Region Analysis for July 2016
Commentary

Otago Region Trends

The median price across Otago rose $13,000 (+5%) compared with July 2015, with prices rising 16% in Dunedin, 13% in
North Otago and 8% in South Otago. Compared to June the median price fell by $15,000 (-5%) with prices rising 30% in
South Otago and 3% in Dunedin, but falling 10% in North Otago. On a seasonally adjusted basis the median price fell 8%
compared to June.
Sales across the region rose 30% compared to July 2015 with sales rising 96% in North Otago, 74% in South Otago and
16% in Dunedin. Compared to June sales were steady at 269. Sales rose 21% in North Otago and 3% in South Otago, but
fell 4% in Dunedin. On a seasonally adjusted basis sales rose 5% compared to June.

Jul-16
$330,000
$226,500
$192,000
$280,000

Dunedin
North Otago
South Otago
Otago

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

Vs…
The number of days to sell in Otago eased by four days in July from 25 days in June to 29 days in July. Compared to July
2015 the number of days to sell also improved by four days. Over the past 10 years the average number of days to sell in
Otago in July was 42 days. The number of properties for sale remains very tight, with just under 11 weeks of supply
available.

Jul-15
$285,000
$200,000
$178,000
$267,000

Jun-16
3.1%
-9.7%
29.7%
-5.1%

Dunedin
North Otago
South Otago
Otago

Volumes

Jul-16
179
53
33
269

Jul-15
15.8%
13.3%
7.9%
4.9%

Days to Sell

Overall

Volume Sold
Jun-16
187
44
32
269

Vs…

Jul-15
155
27
19
207

Jun-16
-4.3%
20.5%
3.1%
0.0%

Jul-15
15.5%
96.3%
73.7%
30.0%

REINZ Regional Commentator Liz Nidd commented: "The number of sales is the highest for July since 2004 and reflects
ongoing strong demand for properties right across the region. Inventory levels remain very low compared to recent
years, which is helping to support prices. The impact, if any, of the new LVR restrictions is still uncertain at this stage."
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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Feb-16

May-16

Aug-15

Nov-15

May-15

Feb-15

Aug-14

Nov-14

Feb-14

May-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

Source: REINZ

Nov-11

$220,000

Aug-12

$240,000

Nov-12

$260,000

Feb-12

$280,000

May-12

$300,000

Aug-11

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

$320,000

 REINZ Southland Region Analysis for July 2016
Commentary

Southland Region Trends

The median price across Southland rose $19,500 (+10%) compared to June, with prices rising 6% in Gore and 3% in
Invercargill. Compared to July 2015 the median price rose $10,750 (+5%) with prices rising 4% in Invercargill but falling
17% in Gore.

Sales volumes rose 12% compared to July 2015, with a 31% increase in Invercargill but a 48% fall in Gore. Compared to
June sales volumes fell 5% with sales rising 10% in Invercargill but falling 42% in Gore. On a seasonally adjusted basis
sales fell 1% compared to June.
The number of days to sell in Southland improved by 15 days in June from 42 days in June to 27 days in July. Compared
to July 2015 the number of days to sell improved by 22 days. Over the past 10 years the number of days to sell in July for
the Southland region has been 43 days. The number of properties for sale has fallen by 45% over the past year to just
over 18 weeks at the end of July.

Jul-16
$207,500
$147,250
$208,500

Invercargill
Gore
Southland

Price

Volumes

Median Price
Jun-16
Jul-15
$202,500
$200,000
$139,000
$177,100
$189,000
$197,750

Vs…

Jun-16
2.5%
5.9%
10.3%

Invercargill
Gore
Southland

Jul-16
144
14
183

Jul-15
3.8%
-16.9%
5.4%

Days to Sell

Overall

Volume Sold
Jun-16
131
24
193

Vs…

Jul-15
110
27
164

Jun-16
9.9%
-41.7%
-5.2%

Jul-15
30.9%
-48.1%
11.6%

REINZ spokesman Bryan Thomson commented: "The Southland market continues to see strong sales volumes,
particularly in Invercargill with a modest lift in the median price. Overall there are more investor and first home buyers
in the market and the level of inventory has declined by 45% over the past year to a historical low. The market remains
active and robust."
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

May-16

Feb-16

Nov-15

Aug-15

May-15

Feb-15

Nov-14

Aug-14

May-14

Feb-14

Aug-13

Nov-13

Feb-13

May-13

Aug-12

Nov-12

Feb-12

May-12

Aug-11

Nov-11

Feb-16

May-16

Nov-15

Aug-15

Feb-15

12 month MA

May-15

Aug-14

Nov-14

May-14

Feb-14

Nov-13

Aug-13

Feb-13

May-13

Aug-12

Nov-12

May-12

Feb-12

Aug-11

0
Nov-11

$150,000