More sales, prices rise as activity builds in the property market
With a significant increase in property listings, the rise in the total number of properties sold, and an increase in the median sale price, some buyers are holding out for the ‘right’ property while others are getting ‘into the market’ before competition rises as investors return.
This buoyancy is a positive sign that we haven’t seen for a while.
(source: REINZ February Property Report)
We are looking at the back of the government’s 100-day plan and the changes to the bright line test back to two years and the latest reintroduction of interest deductibility on investment properties for landlords
REINZ Chief Executive Jen Baird says with the combination of high listing numbers, elevated stock and shifts in the median sale price we are seeing increased activity.
Tauranga City Median Price
Feb-24 $901,500
Jan-24 $915,000
Tauranga City Sales
Feb-24. 207
Jan-24. 119
Feb-23. 170
If you want real estate advice or more info on the current market in your area give me a call - 0274 951 536
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