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

May 16th
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 5,670 dwelling sales in the month of April, down 20.2% on April last year.

The national median price was $432,250 for the month of April, an increase of $41,750 compared to April 2013, but a fall of $7,750 from March.

Real Estate Institute of New Zealand Chief Executive Helen O'Sullivan says, "The sharp fall in sales volumes in April has impacted all regions, as well as Auckland and Christchurch where much of the price pressure has been in recent times.

"The number of sales in the sub-$400,000 category continue to fall faster than the market overall, suggesting that the LVR restrictions are continuing to have an impact on buyer intentions at the lower price points. The lift in the Official Cash Rate by 0.5% over the past two months is likely to have also had an effect."

For the Nelson/Marlborough region the median price increased by $34,000 (+10.4%) compared to April 2013 with prices rising the most in Richmond and Nelson.

Helen O'Sullivan noted that "first home buyer activity remains muted across the region, although investor activity is stable. Open home attendances have been variable, although vendors are increasing their expectations".

The median price trend remains steady, although the volume trend is now falling. 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 strong listing month across all property types - this may have just been a market catch up due to a slow March. Sales for the month were steady and the demand from buyers remains firm.

The median price dropped back to $318,500, its lowest for some time, perhaps indicating that locally first home buyers are making a comeback.

Judging by the current activity in the market we will continue to have strong sales over the next couple of months.

(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