Hibiscus Coast Market Update – October 2018
- The monthly median sale price for the Hibiscus Coast region decreased from $875,000 to $815,000.
- The average days on the market over October was 47, a slight decrease on September that was sitting at 48.
- The number of sales for October 2018 rose back up to 98 and after a slower August/September period; July – 97, August – 87, September – 81 sales.
How does this compare to October 2017?
- Monthly Median Sales Price: $840,000
- Average Days to Sell: 46
- Number of Sales: 104
REINZ Auckland Region Commentary:
For New Zealand excluding Auckland, the number of properties sold increased by 15.6% – 654 more properties when compared to October 2017 (from 4,189 to 4,843).
In Auckland, the number of properties sold increased by 15.2% or 257 more properties, from 1,691 in October 2017 to 1,948 in October 2018.
In Auckland, the number of properties sold increased by 15.2% or 257 more properties, from 1,691 in October 2017 to 1,948 in October 2018.
September was very quiet in terms of the number of properties sold and we predicted that with the increase in listings coming to the market that October’s sales would be much stronger than September’s. With strong sales this month, it’s our belief that in the current market that New Zealand is taking a different path to what we’re seeing across the Tasman at this point in time.
“October also saw the introduction of the foreign buyer ban and while there have been pockets around the country of people talking about a rush ahead of the ban. With Statistics New Zealand’s September quarter figures showing the lowest level of foreign buyers since they began keeping records, we’re confident that most of October’s lift in volume is attributable to the spring lift rather than a rush of foreign buyers looking to get in ahead of the ban,” Bindi Norwell, Chief Executive at REINZ
“October also saw the introduction of the foreign buyer ban and while there have been pockets around the country of people talking about a rush ahead of the ban. With Statistics New Zealand’s September quarter figures showing the lowest level of foreign buyers since they began keeping records, we’re confident that most of October’s lift in volume is attributable to the spring lift rather than a rush of foreign buyers looking to get in ahead of the ban,” Bindi Norwell, Chief Executive at REINZ
To view the Real Estate Institute of New Zealand Monthly Report for October>>> Click here
If you would like to know how this could effect the value of your property or would like to receive our “Monthly Sold Results” email for more information, contact Anita Dobson on 021 337 093 or anita.dobson@harcourts.co.nz.
Anita Dobson, Harcourts Tandem Realty.
