REINZ Press Release Jan 2018 Stats
Record breaking heat sees year-on-year sales volumes lift for first time in 7 months, says REINZ
As the mercury rose during January to produce the hottest month on record, sales volumes across New Zealand rose when compared to the same time last year for the first time in seven months according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.
The number of properties sold in New Zealand during January 2018 increased by 2.7% when compared to January 2017 (4,366 up from 4,251). The number of properties sold in Auckland increased 0.9% year-on-year to 1,157 up from 1,147.
Regions with the biggest increase in sales count year-on-year were:
• Nelson – up 27.9% (78 compared to 61 in January 2017)
• Canterbury – up 18.1% (607 compared to 514 in January 2017)
• Tasman – 15.8% (44 compared to 38 in January 2017)
• Gisborne – up 12.5% (36 compared to 32 in January 2017).
Bindi Norwell, Chief Executive at REINZ says: “January can often be a quiet month for the industry as people spend much of their time at the beach or the bach. However, clearly the warmer weather has helped sales, as it’s the first time we’ve seen a positive year-on-year sales increase in seven months.
“There were some really positive figures from around the country, with 11 out of 16 regions experiencing an increase in sales when compared to the same time last year. Additionally, Gisborne saw the highest number of properties sold in the month of January since January 2007,” continues Norwell.
House prices continue to be driven by strong regional growth
The median house price for New Zealand increased by 7.1% to $520,000, up from $485,500 in January 2017.
Auckland’s median price decreased by 1.2% to $820,000 down from $830,000 at the same time last year. The only other region to experience a price decrease year-on-year was West Coast, down 10.0% to $135,000.
January also saw two regions experience record prices:
• Otago – up 32.9% to $475,000
• Hawke’s Bay – up 18.4% to $438,000
END.
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Scam Alert: Bank cold calls
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🛡️ The "Caller Check" Test
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Camera footage
Hi does anyone in the Raureka Hastings area have cameras on or facing towards Oliphant road that were operating on 27th Feb that could have captured a black hatchback vehicle between 10.25-10.40am travelling down Oliphant road and running over my friends dog. The vehicle dragged the dog and stopped by the shop and got out to have a look then took off. Any assistance be greatly appreciated. Thanks
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