Review of the property sales market in the Motueka area in April 2014

April 15th
By Alan Atkins, Ray White Motueka

[Editor's note: Ray White Motueka is the Principal Sponsor of Motueka Online, and one item of assistance it provides is a regular, general update on the state of property sales in the area. The reports do not contain any promotion of Alan's company, but are provided purely for informational purposes]

REINZ, the most up to date source of real estate data in New Zealand, announced that there were 7,315 dwelling sales in the month of March with the national median price reaching a new record high of $440,000, which was an increase of $44,000 compared to March 2013.

Real Estate Institute of New Zealand (REINZ) Chief Executive Helen O'Sullivan says, "There appears to be an increasing divergence between the regions that are seeing growth in their property markets, such as Auckland, Canterbury and Waikato/Bay of Plenty and regions where the property market is far more subdued, such as Wellington, Hawkes Bay, Manawatu/Wanganui and Otago and Southland. In many of the quieter regions the impact of LVR restrictions on first home buyers is still reported as strong."

The median price for the Nelson/Marlborough region increased by $11,500 (+3.3%) compared to March 2013 with prices rising the most in Richmond and Nelson.

REINZ Chief Executive, Helen O'Sullivan noted that "first home buyer activity remains muted across the region, although in parts investor activity is increasing. Open home attendances have risen in March although vendors are realistic about price expectations and not overly influenced by the activity in the Auckland market."

The median price trend is now steady, although the volume trend continues to ease. The days to sell trend is now steady as well, with the overall trend for the region continuing to be steady.

For our local Motueka market we had a relatively slow month with both new listings and sales down against March 2013 and February 2014. The days on market also dragged out to 115, but we did get a lift in the median price up to $460,000.

The overall trend for the month was for an increasing demand for higher priced properties and a weaker demand for the properties in the lower price rangers. This trend appears very temporary as activity so far this month has seen increasing number of sales across all price ranges and a reduction in the median sales price.

With the winter weather moving in I do not expect too much change in our local market as often this is a the time of the year that families have time to go house hunting.

(Statistics quoted in this article are sourced in-house and from REINZ and Realestate.co.nz. While we endeavor to keep the figures as accurate as possible they cannot be guaranteed.)

>> , to be added to the page. [If this link doesn't work, use this form instead]

[ Return ]
[ Other news articles ]

Ray White Motueka, Motueka Floral Studio, Nelson Building Society,
House of Travel, , Steph Wills Dental Surgery