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Residential Market Comment: February 2018

Median sale price for February 2018 was $510,250 which is a 14% increase compared to February 2017. The average median over the last 12 months was $487,000 but 12 months prior to this it was $442,000. This indicates the average median sale price has increased over the long term.

Residential Market Comments: January 2018

The 2018 year to date has seen an increase in the total number of sales compared with the same periods in 2017 and 2016.

Commercial Market Comment: January 2018

Retail Sales in New Zealand increased 5.40 percent in the fourth quarter of 2017 over the same quarter in the previous year. Retail Sales YoY in New Zealand averaged 3.63 percent from 1996 until 2017, reaching an all-time high of 10.80 percent in the first quarter of 2004 and a record low of -7.90 percent in the first quarter of 2009.

Residential Market Comment: December 2017

Generally, the 2017 year saw a decrease in the total number of sales compared with 2016 and 2015, except for the Nelson Country areas that saw an increase.

Residential Market Comment: November 2017

Median sale price for November 2017 was $503,500 which is a 4% increase compared to November 2016. The average median over the last 12 months was $479,000 but 12 months prior to this it was $428,000. This indicates the average median sale price has increased over the long term.

Residential Market Comment: October 2017

The average time to sell in October was 27 days with the average for the last 3 months of 26 days. The 12- month average is 28 days. This indicates the pace of the market has slowed marginally with a reduction in demand leading to longer marketing periods.

Market Comment: Commercial October 2017

The Reserve Bank (RBNZ) continues to manipulate the Official Cash Rate intending to control the market and monitor inflation. With earlier inflation running below 1.00%, the Official Cash Rate (OCR) was lowered in November 2016 by 25 basis points to 1.75% with the intention of increasing economic activity and achieving the Reserve Bank’s inflation targets.

Market Comments: Residential September 2017

There were 67 sales in September 2017 compared to 81 for the same month in 2016 and 87 in 2015. The total number of sales for the year to date is 691, compared to 771 for the same period in 2016 and 773 for 2015.

Market Comments: Residential August 2017

The 2017 year to date has seen a decrease in the total number of sales compared with the same periods in 2016 and 2015. The average time to sell in August was 29 days with the average for the last 3 months also 29 days. The 12-month average is 28 days. This indicates the pace of the market has remained constant and in a state of equilibrium.


Market Comments: Commercial July 2017

The local commercial property market has maintained a steady level of sales activity since 2012. Declining yields were noted for well located, securely leased properties with a high seismic rating on the back of historically low interest rates. Analysis is now showing a stabilisation of yields across all sectors. Financiers and investors remain keenly interested in weighted average lease terms and seismic rating in considering the risk profile of any property.