REINZ Auckland Region Analysis for August 2016
Commentary

Price

Auckland Region Trends

Sales volume in the Auckland region fell 4% compared to July with volumes up 8% in Rodney and 1% in North Shore, but
falling across the rest of the region. Compared to August 2015 sales fell 20% with volumes up 4% in Rodney, but down
13% in Outer Auckland, 15% in Waitakere and 20% in Auckland City. On a seasonally adjusted basis the number of sales
in the Auckland region fell 4% compared to July, indicating that the drop in sales from July was larger than normal.
Compared to August 2015 the median price rose by $102,500 (+14%) with prices rising 21% in Manukau, 20% in Outer
Auckland and 14% in Rodney and Auckland City. Compared to July the median price rose by $17,500 (+2%) , with pricing
rising 9% in Auckland City, 3% in Outer Auckland and 1% in Rodney and Manukau City. On a seasonally adjusted basis
Auckland's median price rose 2% compared to July. The median price in Auckland reached a new record high in August.
The number of days to sell eased by one day compared to July, from 30 days in July to 31 days in August. Compared to
August 2015, the number of days to sell eased by two days. Over the past 10 years the average number of days to sell
during August for Auckland has been 33 days. Across the Auckland region the level of available inventory has continued
to increase, albeit slowly and now sits at 12 weeks supply.
REINZ Spokesman, Bryan Thomson noted that, “The indications are that the struggle for stock is the biggest factor driving
market behaviour and price expectations across the country, as we await Spring listings.
“The continued shortage of listings coupled with the impact of the LVR changes on investors is seeing sales volumes
more muted than expected at this time of year.”

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
Aug-16
Jul-16
$1,045,000 $1,062,500

North Shore City

Volumes

Days to Sell

Overall

Aug-15
$935,500

Aug-16
410

Volume Sold
Jul-16
408

Aug-15
556

Waitakere City
Auckland City
Manukau City
Metro Auckland

$800,000
$911,750
$815,000
$865,000

$803,000
$837,000
$805,000
$857,500

$741,000
$800,000
$675,000
$765,000

345
726
462
2,059

350
817
473
2,149

404
906
595
2,597

Rodney District
Outer Auckland
Auckland Region

$862,500
$692,965
$842,500

$852,500
$672,000
$825,000

$755,650
$579,000
$740,000

192
354
2,413

178
371
2,520

184
405
3,002

Jul-16
-1.6%
-0.4%
8.9%
1.2%
0.9%
1.2%
3.1%
2.1%

Aug-15
11.7%
8.0%
14.0%
20.7%
13.1%
14.1%
19.7%
13.9%

Jul-16
0.5%
-1.4%
-11.1%
-2.3%
-4.2%
7.9%
-4.6%
-4.2%

Aug-15
-26.3%
-14.6%
-19.9%
-22.4%
-20.7%
4.3%
-12.6%
-19.6%

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

Vs…

Auckland Region Median Price

Auckland Region Sales Volumes

Past 5 Years

Past 5 Years

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

4,000
3,500
3,000
2,500
2,000
1,500
1,000
500

12 month MA

Auckland Volumes

12 month MA

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Source: REINZ

Mar-12

Sep-11

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Dec-14

Jun-14

Sep-14

Dec-13

Auckland Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

Source: REINZ

Dec-11

0

 REINZ Northland Region Analysis for August 2016
Commentary

Price

Northland Region Trends

Sales volume growth in Northland rose by 4% compared to August 2015. Sales increased 28% in Otamatea County and
15% in Whangarei, but fell across the rest of the region. Compared to July, sales volumes rose 2% across the region, with
a 14% increase in Kerikeri and 10% in Otamatea County, but falling across the rest of the region. On a seasonally adjusted
basis sales were up 1% compared to July.
The median price across the region rose by $38,250 (+12%) compared to August 2015, with prices rising 39% in
Otamatea County, 33% in Whangarei County and 17% in Kerikeri. Compared to July, the median price fell by $14,000 (4%) with prices falling 3% in Whangarei City and Whangarei County, and by 7% in Kerikeri. On a seasonally adjusted basis
the median price fell by 4% compared to July.
The number of days to sell eased by four days compared to July, from 34 days in July to 38 days in August. The number
of days to sell improved by 25 days compared to August 2015. Over the past 10 years the average number of days to sell
during August for Northland has been 63 days. The level of inventory available has fallen by 40% over the past year to 27
weeks of supply.
REINZ Spokesman, Bryan Thomson noted that, "The Northland market remains active, with an increase in listings being
offset to some extent by an increase in buyer interest.
“The indications are that the struggle for stock is the biggest factor driving market behaviour and price expectations
across the country, as we await Spring listings.”

Volumes

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

Aug-15
$321,000
$452,500
$360,000
$465,250
$323,750

Whangarei City
Whangarei County

Jul-16
-2.9%
-3.0%

Aug-15
9.0%
33.4%

Otamatea County
Kerikeri
Northland

-22.6%
-7.3%
-3.7%

38.6%
16.6%
11.8%

Aug-16
$350,000
$603,500
$499,000
$542,500
$362,000

Whangarei City
Whangarei County
Otamatea County
Kerikeri
Northland

Vs…

Days to Sell

Overall

Volume Sold
Jul-16
95
114
26
29
23
21
24
21
267
262

Aug-16

Vs…

Aug-15
83
40
18
42
258

Jul-16
-16.7%
-10.3%

Aug-15
14.5%
-35.0%

9.5%
14.3%
1.9%

27.8%
-42.9%
3.5%

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

$380,000

400
350

$360,000

300
$340,000

250

$320,000

200

$300,000

150
100

$280,000

50

$260,000

12 month MA

Source: REINZ

Northland Volumes

12 month MA

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-16

Mar-16

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

Northland Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

Source: REINZ

Dec-11

0

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

Waikato/Bay of Plenty Region Trends

Sales volumes compared to July rose 4%, with sales rising 12% in Mt Maunganui/Papamoa, 8% in Tauranga and 6% in
Waikato Country. Compared to August 2015 sales across the region fell 7% with sales rising 54% in Gisborne, 33% in
Eastern BOP Country and 22% in Mt Maunganui / Papamoa. On a seasonally adjusted basis sales for August were flat,
indicating that the lift in sales was about normal for this time of year.

The median price across the region rose $82,000 (+23%) compared to August 2015. Prices rose 37% in Waikato Country,
31% in Rotorua and 30% in Mount Maunganui / Papamoa. Compared to July the median price fell $15,000 (-3%), with
prices rising 10% in Waikato Country, 5% in Gisborne and 3% in Rotorua. On a seasonally adjusted basis prices fell 3%
compared to July.

The number of days to sell was steady at 30 days compared to July. The number of days to sell improved by three days
compared to August 2015. Over the past 10 years the average number of days to sell during August for the region has
been 50 days. The region has just under 12 weeks of supply available, a drop of 30% over the past year.

REINZ Regional Director, Philip Searle noted that "Investor activity has continued to decline since the announcement of
new LVR restrictions, although underlying first home buyer demand remains solid across the region. The shortage of
listings remains acute in some parts of the region, with the limited availability of properties restricting buyer choice."

Graph Commentary
The trend in median price is continuing to rise, with the trend in sales volume now moving back to steady. The days to
sell trend continues to rise, with the overall trend for the region moving from rising to improving.

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

Aug-16
$493,750
$369,000
$544,500
$640,000
$325,000
$365,000
$266,750
$260,500
$435,000

Price

Volumes

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

Aug-15
$415,500
$269,000
$470,000
$495,000
$248,000
$335,000
$240,000
$225,000
$353,000

Jul-16
-3.2%
10.1%
0.1%
-1.2%
3.2%
-5.8%
-18.3%
4.6%
-3.3%

Aug-15
18.8%
37.2%
15.9%
29.3%
31.0%
9.0%
11.1%
15.8%
23.2%

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

Aug-16
360
257
136
121
139
79
68
60
1,386

Days to Sell

Overall

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

Aug-15
408
285
153
99
155
76
51
39
1,487

Jul-16
-0.8%
6.2%
7.9%
12.0%
0.7%
-1.3%
1.5%
-9.1%
3.8%

Aug-15
-11.8%
-9.8%
-11.1%
22.2%
-10.3%
3.9%
33.3%
53.8%
-6.8%

Vs…

Waikato/BOP Region Median Price

Waikato/BOP Region Sales Volumes

Past 5 Years

Past 5 Years

12 month MA

Source: REINZ

Waikato/BOP Volumes

12 month MA

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Dec-14

Jun-14

Sep-14

Dec-13

Waikato/BOP Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

Source: REINZ

Dec-11

$300,000

Mar-13

$325,000

Sep-12

$350,000

Dec-12

$375,000

Jun-12

$400,000

Dec-11

$425,000

Mar-12

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

$450,000

Sep-11

$475,000

 REINZ Hawke's Bay Region Analysis for August 2016
Commentary

Price

Hawke's Bay Region Trends

Sales volumes in Hawke's Bay rose by 7% compared to July, with sales rising 30% in Hastings and 21% in Hawke's Bay
Country, but falling across the rest of the region. Compared to August 2015 sales volumes rose 2%, with sales rising 127%
in Dannevirke, 30% in Hastings and 21% in Hawke's Bay Country. On a seasonally adjusted basis sales for August fell 3%
compared to July indicating that sales rose less than what would normally be expected for August.

The median price rose $45,000 (+12%) compared to August 2015 with prices rising 21% in Napier, 20% in Hastings and
5% in Dannevirke. Compared to July the median price rose $10,000 (+3%) with prices rising 7% in Hastings, 5% in
Dannevirke and 2% in Napier . On a seasonally adjusted basis the median price fell 2% compared to July.

Aug-16
$371,500
$330,200
$291,000
$160,000
$320,000

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

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

Vs…
The median days to sell for Hawke's Bay improved by two days compared to July, from 31 days in July to 29 days in
August. The number of days to sell improved by 14 days compared to August 2015. Over the past 10 years the median
number of days to sell for the Hawke's Bay region in August has been 47 days. The region has less than 12 weeks of
supply available, a drop of 31% over the past 12 months.
REINZ Spokesman, Bryan Thomson noted that, "Demand remains strong across the Hawke’s Bay region with first home
buyers and investors active in the market. The supply of properties for sale remains restricted with less than 12 weeks
supply available."

Aug-15
$306,500
$275,000
$364,000
$152,000
$285,000

Jul-16
1.5%
6.5%
0.3%
4.9%
3.2%

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

Volumes

Aug-16
95
103
23
25
261

Aug-15
21.2%
20.1%
-20.1%
5.3%
12.3%

Days to Sell

Overall

Volume Sold
Jul-16
102
79
19
26
245

Aug-15
128
79
19
11
255

Vs…

Jul-16
-6.9%
30.4%
21.1%
-3.8%
6.5%

Aug-15
-25.8%
30.4%
21.1%
127.3%
2.4%

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

12 month MA

Source: REINZ

Hawkes Bay Volumes

12 month MA

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-16

Mar-16

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

Hawkes Bay Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

0
Dec-11

$240,000

 REINZ Manawatu/Wanganui Region Analysis for August 2016
Commentary

Price

Manawatu/Wanganui Region Trends

Sales volumes rose 35% compared to August 2015, with sales rising 87% in Feilding, 54% in Wanganui and 26% in
Manawatu Country. Compared to July sales volumes rose 18%, with sales rising 65% in Feilding, 37% in Wanganui and
21% in Manawatu Country. On a seasonally adjusted basis sales across the region rose 10%, indicating that the increase
in sales was noticeably larger than normal.
The median price across the region rose $31,500 (+15%) compared to August 2015. Prices rose 32% in Feilding, 30% in
Levin, 17% in Manawatu Country. Compared to July the median price fell $18,500 (-7%), with prices rising 1% in Feilding,
but falling 2% in Palmerston North, 3% in Wanganui and 4% in Feilding. On a seasonally adjusted basis the median price
fell 5% compared to July.

The number of days to sell improved by four days, from 34 days in July to 30 days in August. The number of days to sell
improved by 20 days compared to August 2015. Over the past 10 years the average number of days to sell during August
for the region has been 47 days. There is currently 15 weeks of supply available across the region, a drop of 21 weeks
over the past 12 months.
REINZ Spokesman, Bryan Thomson noted that, "The first home buyer market continues to be active with quick sales and
an increasing number of multiple offers. Demand is high but the number of listings isn’t keeping pace, which is impacting
the rate of sales.”

Palmerston North
Feilding
Levin
Manawatu Country
Wanganui
Manawatu/Wanganui

Aug-16
$325,000
$300,000
$249,500
$223,000
$180,000
$246,500

Median Price
Jul-16
$331,750
$312,500
$247,000
$296,000
$185,000
$265,000

Aug-15
$285,000
$228,000
$192,000
$191,000
$165,000
$215,000

Jul-16
-2.0%
-4.0%
1.0%
-24.7%
-2.7%
-7.0%

Aug-15
14.0%
31.6%
29.9%
16.8%
9.1%
14.7%

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

Volumes

Aug-16
131
43
44
34
103
418

Days to Sell

Overall

Volume Sold
Jul-16
140
26
43
28
75
354

Aug-15
113
23
47
27
67
310

Vs…

Jul-16
-6.4%
65.4%
2.3%
21.4%
37.3%
18.1%

Aug-15
15.9%
87.0%
-6.4%
25.9%
53.7%
34.8%

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

Manawatu/Wanganui Median Price

Source: REINZ

Manawatu/Wanganui Volumes

Jun-16

Dec-15

Mar-16

Jun-15

12 month MA

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Jun-16

Mar-16

Dec-15

Jun-15

12 month MA

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

Source: REINZ

Dec-11

$175,000

Dec-12

$200,000

Jun-12

$225,000

Mar-12

$250,000

Sep-11

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

$275,000

 REINZ Taranaki Region Analysis for August 2016
Commentary

Price

Taranaki Region Trends

Sales volume for the Taranaki region rose 13% compared to August 2015 with sales up 14% in Taranaki Country, 12% in
New Plymouth and 9% in Hawera. Compared to July sales volumes rose by 7% with sales up 100% in Taranaki Country,
but down 2% in New Plymouth, 7% in Bell Block and 11% in Hawera. On a seasonally adjusted basis sales fell 6%
compared to July, indicating that the increase in sales was lower than normal for an August.
The median price across the region rose $25,000 (+9%) compared to August 2015, with prices up 29% in Bell Block, 10%
in Taranaki Country and 4% in New Plymouth. Compared to July the median price fell $10,000 (-3%) with prices rising
19% in Bell Block and 12% in Taranaki Country, but falling across the rest of the region.
The number of days to sell eased by two days compared to July, from 32 days in July to 34 days in August. Compared to
August 2015 the number of days to sell improved by five days. Over the past 10 years the median number of days to sell
across the region in August has averaged 48 days. The level of inventory has fallen by eight weeks over the past 12
months to 18 weeks as at the end of August.

Aug-16
$362,500
$222,500
$490,000
$190,000
$310,000

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

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

Vs…

Aug-15
$350,000
$202,500
$380,000
$209,500
$285,000

Jul-16
-1.9%
11.5%
18.5%
-2.1%
-3.1%

New Plymouth
Taranaki Country
Bell Block
Hawera
Taranaki

Volumes

Aug-16
84
32
13
25
188

Aug-15
3.6%
9.9%
28.9%
-9.3%
8.8%

Days to Sell

Overall

Volume Sold
Jul-16
86
16
14
28
175

Aug-15
75
28
15
23
167

Vs…

Jul-16
-2.3%
100.0%
-7.1%
-10.7%
7.4%

Aug-15
12.0%
14.3%
-13.3%
8.7%
12.6%

REINZ Spokesman, Bryan Thomson noted that “The market continues to be steady with a slight drop in first home buyer
activity over the past month amidst falling inventory over the past 12 months.”

Source: REINZ

Taranaki Median Price

12 month MA

Source: REINZ

Taranaki Volumes

12 month MA

Jun-16

Dec-15

Mar-16

Jun-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Sep-11

Jun-16

Mar-16

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

0
Dec-13

$240,000
Mar-14

50

Jun-13

$265,000

Sep-13

100

Mar-13

$290,000

Dec-12

150

Jun-12

$315,000

Sep-12

200

Mar-12

$340,000

Sep-11

250

Dec-11

$365,000

Jun-12

Past 5 Years

Mar-12

Taranaki Region Sales Volumes

Past 5 Years

Dec-11

Taranaki Region Median Price

Sep-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 August 2016
Commentary

Price

Wellington Region Trends

The median price for the Wellington region rose $58,450 (+15%) compared to August 2015. Prices rose 47% in Eastern
Wellington, 27% in Hutt Valley and 19% in Southern Wellington. Compared to July the median price increased $11,000
(+2%), with prices rising 12% in Central Wellington, 9% in Southern Wellington and 6% in Eastern Wellington. On a
seasonally adjusted basis the median price rose 1%.

Compared to August 2015 sales volumes rose 14% across the region with sales rising 30% in Eastern Wellington, 27% in
Southern Wellington and 22% in Hutt Valley. Compared to July sales volumes rose 7%, with sales rising 43% in Western
Wellington, 22% in Eastern Wellington and 21% in Pukerua Bay/Tawa. On a seasonally adjusted basis sales rose 2%
compared to July indicating that the rise is sales was stronger than normal.

The number of days to sell improved by three day in August, from 27 days in July to 24 days in August. Compared to
August 2015 the number of days to sell improved by 14 days. Over the past 10 years the median number of days to sell
across the region in August has averaged 39 days. The Wellington region has the lowest level of properties available,
with just seven weeks supply available.

REINZ Regional Director Euon Murrell noted that, "The Wellington market remains buoyant with a high level of buyer
interest and a continued shortage of listings. The lack of choice is seeing more and more unconditional cash offers being
made by buyers on properties."

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.

Aug-16
$400,250
$425,000
$600,750
$523,250
$750,000
$683,000
$629,000
$438,500
$461,000

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

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

Vs…

Wellington Region Median Price

Aug-15
$377,000
$335,000
$550,000
$481,500
$510,600
$589,000
$530,500
$432,500
$402,550

Jul-16
-1.7%
0.0%
-1.8%
12.2%
5.9%
0.4%
9.4%
-12.3%
2.4%

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

Volumes

Aug-16
70
169
78
80
39
30
38
80
765

Aug-15
6.2%
26.9%
9.2%
8.7%
46.9%
16.0%
18.6%
1.4%
14.5%

Days to Sell

Overall

Volume Sold
Jul-16
93
149
73
74
32
21
32
66
712

Aug-15
81
139
65
68
30
27
30
71
672

Vs…

Jul-16
-24.7%
13.4%
6.8%
8.1%
21.9%
42.9%
18.8%
21.2%
7.4%

Aug-15
-13.6%
21.6%
20.0%
17.6%
30.0%
11.1%
26.7%
12.7%
13.8%

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

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Dec-11

Sep-11

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Dec-14

Jun-14

Sep-14

Dec-13

Wellington Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

0
Dec-11

200

$360,000

Mar-12

400

$380,000

 REINZ Nelson/Marlborough Region Analysis for August 2016
Commentary

Price

Nelson/Marlborough Region Trends

The median price across the region rose $45,000 (+12%) compared to August 2015 to reach a new record high. Prices
rose 45% in Motueka, 33% in Richmond and 8% in Nelson and Marlborough / Kaikoura. Compared to July the median
price rose $28,500 (+7%) with prices rising 11% in Nelson, 4% in Richmond and 3% in Marlborough / Kaikoura. On a
seasonally adjusted basis the median price rose 4% compared to July.
Sales volume compared to July rose 21%, with sales rising 25% in Motueka, 24% in Richmond and 18% in Nelson.
Compared to August 2015 sales volumes rose 12%, with sales rising 26% in Marlborough / Kaikoura and 5% in Nelson. On
a seasonally adjusted basis sales in August rose 6% compared to July.
The number of days to sell in August improved by three days compared to July, from 26 days in July to 23 days in August.
Compared to August 2015 the number of days to sell improved by 19 days. Over the past 10 years the number of days to
sell in August across the region has averaged 43 days. The level of inventory available for sale is now at 14 weeks of
supply.
REINZ Spokesman, Bryan Thomson noted that "The region continues to be active, with solid activity across a range of
price points. The number of first home buyers appears to have fallen a little, although investors continue to be active in
the market. The number of listings has increased slightly over August, which is providing greater choice to buyers,
although vendor expectations are increasing."

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Aug-16
$455,000
$559,000
$485,000
$355,000
$430,000

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

Vs…

Aug-15
$420,000
$421,000
$334,000
$329,000
$385,000

Jul-16
10.7%
4.0%
-3.5%
2.9%
7.1%

Nelson City
Richmond
Motueka
Marlborough/Kaikoura
Nelson/Marlborough

Volumes

Aug-16
87
26
15
103
259

Aug-15
8.3%
32.8%
45.2%
7.9%
11.7%

Days to Sell

Overall

Volume Sold
Jul-16
74
21
12
91
215

Aug-15
83
26
21
82
231

Vs…

Jul-16
17.6%
23.8%
25.0%
13.2%
20.5%

Aug-15
4.8%
0.0%
-28.6%
25.6%
12.1%

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 is now improving.

Nelson/Marlborough Region Median Price

Nelson/Marlborough Region Sales Volumes

Past 5 Years

Past 5 Years

$450,000

400

$425,000

350

$400,000

300
250

$375,000

200
$350,000

Source: REINZ

Nelson/Marlborough Median Price

Source: REINZ

Nelson/Marlborough Volumes

Jun-16

Dec-15

Mar-16

Jun-15

12 month MA

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Jun-16

Dec-15

Mar-16

Jun-15

12 month MA

Sep-15

Mar-15

Dec-14

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Dec-12

Mar-13

Jun-12

Sep-12

Mar-12

0
Sep-11

50

$275,000
Dec-11

100

$300,000

Dec-11

150

$325,000

 REINZ Canterbury/Westland Region Analysis for August 2016

Sales volume across the region rose by 6% compared to August 2015, with sales rising 29% in South Canterbury, 24% in
Mid-Canterbury and 6% in Christchurch. Compared to July sales volumes rose 2%, with sales volumes rising 65% in MidCanterbury, 37% in West Coast and 35% in South Canterbury. On a seasonally adjusted basis the volume of sales fell by
2% compared to July.
The median price rose $8,000 (+2%) compared to August 2015, with prices rising 16% in Mid-Canterbury, 12% in Timaru
and 9% in North Canterbury. Compared to July the median price fell $5,000 (-1%), with prices rising 13% in MidCanterbury, 5% in South Canterbury and 3% in Rangiora and Timaru.

REINZ Regional Director, Jim Davis commented that, "Investors have become less active, in light of the new LVR rules
coming into force and first home buyers more active over the past month. The expectation is that sales will lift as we
move into Spring based on an expected increase in listings."

The number of days to sell in August improved by one day compared to July, from 33 days in July to 32 days in August.
Compared to August 2015 the number of days to sell eased by two days. Over the past 10 years the number of days to
sell in August across the region has averaged 34 days. The level of inventory available for sale is now 19 weeks
compared to 22 weeks in August 2015.
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.

Aug-16
$435,750
$417,000
$440,000
$359,000
$332,500
$289,250
$205,000
$420,000

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

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

Vs…

Price

Aug-15
$430,000
$431,625
$403,000
$310,000
$296,000
$290,000
$202,500
$412,000

Jul-16
-0.4%
3.1%
-5.3%
13.2%
2.8%
4.6%
-20.4%
-1.2%

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

Volumes

Aug-15
1.3%
-3.4%
9.2%
15.8%
12.3%
-0.3%
1.2%
1.9%

Aug-16
567
30
35
56
45
54
37
914

Days to Sell

Overall

Volume Sold
Jul-16
567
28
34
34
55
40
27
900

Aug-15
535
42
34
45
47
42
36
863

Jul-16
0.0%
7.1%
2.9%
64.7%
-18.2%
35.0%
37.0%
1.6%

Aug-15
6.0%
-28.6%
2.9%
24.4%
-4.3%
28.6%
2.8%
5.9%

Vs…

Source: REINZ

Canterbury/Westland Median Price

Source: REINZ

Canterbury/Westland Volumes

Dec-15

Jun-15

12 month MA

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Sep-11

Jun-16

Mar-16

Dec-15

Jun-15

12 month MA

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

0
Mar-14

$300,000
Jun-13

200
Sep-13

400

$320,000
Mar-13

600

$340,000

Dec-12

$360,000

Jun-12

800

Sep-12

1,000

$380,000

Mar-12

1,200

$400,000

Sep-11

1,400

$420,000

Dec-11

$440,000

Jun-12

Past 5 Years

Dec-11

Canterbury/Westland Region Sales Volumes

Past 5 Years

Mar-12

Canterbury/Westland Region Median Price

Jun-16

Canterbury/Westland Region Trends

Mar-16

Commentary

 REINZ Central Otago Lakes Region Analysis for August 2016
Commentary

Price

Central Otago Lakes Region Trends

Sales volume for the Central Otago Lakes Region rose by 27% compared to August 2015, with sales up 90% in
Queenstown but down 10% in Central. Compared to July, sales volume rose 6%, with sales rising 49% in Queenstown but
falling 22% in Central. On a seasonally adjusted basis sales fell by 2% in August.

The median price across the region rose $187,500 (+41%) compared to August 2015, with prices rising 44% in
Queenstown and 24% in Central. Compared to July, the median price fell $10,000 (-2%) with prices rising 8% in Central
but falling 13% in Queenstown. On a seasonally adjusted basis the median price rose 2% in August.
The number of days to sell improved by three days compared to July, from 37 days in July to 34 days in August.
Compared to August 2015 the number of days to sell improved by five days. Over the past 10 years the average number
of days to sell in August across the region has been 59 days. The level of inventory now stands at 15 weeks, a drop of
37% over the past year.

Aug-16
$530,000
$796,000
$650,000

Central
Queenstown
Central Otago Lakes

Volumes

Median Price
Jul-16
Aug-15
$490,000
$426,500
$910,000
$553,250
$660,000
$462,500

Vs…

Jul-16
8.2%
-12.5%
-1.5%

Central
Queenstown
Central Otago Lakes

Aug-16
61
76
137

Aug-15
24.3%
43.9%
40.5%

Days to Sell

Overall

Volume Sold
Jul-16
78
51
129

Aug-15
68
40
108

Vs…

Jul-16
-21.8%
49.0%
6.2%

Aug-15
-10.3%
90.0%
26.9%

REINZ Regional Director Gail Hudson commented that, "The numbers active in the market has slowed over the past few
weeks as the LVR changes weigh on people's minds. Underlying demand remains solid, as we head into spring."

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

Central Otago Lakes Median Price

Source: REINZ

Central Otago Lakes Volumes

Jun-16

Dec-15

Mar-16

Jun-15

12 month MA

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-16

Mar-16

Dec-15

Jun-15

12 month MA

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

Source: REINZ

Dec-11

$375,000

Jun-13

$425,000

Mar-13

$475,000

Sep-12

$525,000

Dec-12

$575,000

Jun-12

$625,000

Mar-12

$675,000

Sep-11

200
180
160
140
120
100
80
60
40
20
0

$725,000

Dec-11

$775,000

 REINZ Otago Region Analysis for August 2016
Commentary

Otago Region Trends

The median price across Otago rose $12,494 (+5%) compared with August 2015, with prices rising 29% in North Otago,
14% in South Otago and 8% in Dunedin. Compared to July the median price increased by $5,000 (+2%) with prices rising
10% in North Otago, but falling 2% in Dunedin and 10% in South Otago. On a seasonally adjusted basis the median price
rose 2% compared to July.
Sales across the region rose 15% compared to August 2015 with sales rising 175% in South Otago, 23% in North Otago
and flat in Dunedin. Compared to July sales rose 10%, with an increase of 33% in South Otago, 7% in Dunedin and flat in
North Otago. On a seasonally adjusted basis sales rose 2% compared to July.

Aug-16
$325,000
$250,000
$172,500
$285,000

Dunedin
North Otago
South Otago
Otago

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

Vs…
The number of days to sell in Otago improved by seven days in August from 29 days in July to 22 days in August.
Compared to August 2015 the number of days to sell also improved by seven days. Over the past 10 years the average
number of days to sell in Otago in August was 39 days. The number of properties for sale remains very tight, with just
over 10 weeks of supply available.

Aug-15
$300,000
$194,500
$152,000
$272,506

Jul-16
-1.5%
10.4%
-10.2%
1.8%

Dunedin
North Otago
South Otago
Otago

Volumes

Aug-16
192
53
44
295

Aug-15
8.3%
28.5%
13.5%
4.6%

Days to Sell

Overall

Volume Sold
Jul-16
179
53
33
269

Aug-15
192
43
16
257

Vs…

Jul-16
7.3%
0.0%
33.3%
9.7%

Aug-15
0.0%
23.3%
175.0%
14.8%

REINZ Regional Commentator Liz Nidd commented that, "The very low number of days to sell for August indicates that
the market continues to be very tight with just over 10 weeks of supply and continuing demand from first home buyers
in particular. Investors have stepped away from the market a bit while they digest the forthcoming changes to the LVR
rules."
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

12 month MA

Source: REINZ

Otago Volumes

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Dec-14

12 month MA

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Jun-16

Mar-16

Dec-15

Jun-15

Sep-15

Mar-15

Sep-14

Dec-14

Jun-14

Dec-13

Otago Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

Source: REINZ

Dec-11

$220,000

Sep-12

$240,000

Dec-12

$260,000

Jun-12

$280,000

Mar-12

$300,000

Sep-11

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

$320,000

 REINZ Southland Region Analysis for August 2016
Commentary

Southland Region Trends

The median price across Southland rose $21,250 (+11%) compared to August 2015, with prices rising 34% in Gore and
10% in Invercargill. Compared to July the median price rose $500 (+0%) with prices rising 1% in Invercargill and 46% in
Gore.

Sales volumes rose 44% compared to August 2015, with a 29% increase in Gore and a 22% increase in Invercargill.
Compared to July sales volumes rose 22% with sales rising 93% in Gore but falling 1% in Invercargill. On a seasonally
adjusted basis sales rose 11% compared to July indicating that the increase in sales was larger than normal.
The number of days to sell in Southland eased by 11 days in August from 27 days in July to 38 days in August. Compared
to August 2015 the number of days to sell improved by two days. Over the past 10 years the number of days to sell in
August for the Southland region has been 41 days. The number of properties for sale has fallen by 11 weeks over the
past year to just over 18 weeks at the end of August.

Aug-16
$209,000
$215,000
$209,000

Invercargill
Gore
Southland

Price

Volumes

Median Price
Jul-16
Aug-15
$207,500
$190,000
$147,250
$161,000
$208,500
$187,750

Vs…

Jul-16
0.7%
46.0%
0.2%

Invercargill
Gore
Southland

Aug-16
143
27
224

Aug-15
10.0%
33.5%
11.3%

Days to Sell

Overall

Volume Sold
Jul-16
144
14
183

Aug-15
117
21
156

Vs…

Jul-16
-0.7%
92.9%
22.4%

Aug-15
22.2%
28.6%
43.6%

REINZ Spokesman, Bryan Thomson commented that, "The Southland market continues to see strong sales volumes with
a modest lift in the median price. Overall there are more investors and first home buyers in the market and the level of
inventory has declined by 35% 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

12 month MA

Source: REINZ

Southland Volumes

12 month MA

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Dec-14

Mar-15

Jun-14

Sep-14

Mar-14

Sep-13

Dec-13

Jun-13

Mar-13

Sep-12

Dec-12

Jun-12

Mar-12

Sep-11

Dec-11

Jun-16

Dec-15

Mar-16

Jun-15

Sep-15

Mar-15

Dec-14

Jun-14

Sep-14

Dec-13

Southland Median Price

Mar-14

Jun-13

Sep-13

Mar-13

Dec-12

Jun-12

Sep-12

Mar-12

Sep-11

0
Dec-11

$150,000