Hibiscus Coast Market Update – September 2017
Hibiscus Coast Market Update – September 2017
- The monthly median sale price for the Hibiscus Coast region increased from $901,500 to $935,000.
- The average days on the market over September was 44, a great decrease on August that was sitting at 49.
- The number of sales for September 2017 rose back up to 84 after they decreased from 90 to 76 over the July/August period.
What are people buying?
1 Bedroom: 1
2 Bedroom: 13
3 Bedroom: 28
4 Bedroom: 23
5 Bedroom +: 19
How does this compare to September 2016?
- Monthly Median Sales Price: $785,000
- Average Days to Sell: 29
- Number of Sales: 111
REINZ Commentary:
The soggy start to spring combined with the ‘election effect’ has had a significant impact on the number of sales across the country – this is the lowest number of sales in eight months, and the lowest number of sales in the month of September for six years. However, it’s not all doom and gloom as there are pockets of the country experiencing increases month-on-month and median prices are increasing in the majority of regions across the country.
“The Auckland market has experienced a decrease in sales, so many in the region will be looking forward to a summer increase. There is no doubt that the elections have had a slow-down effect both in terms of buyer commitment and buyer enquiry. However, once we have a Government and the ‘norm’ returns, a lift in momentum and sales volumes is anticipated with some predicting returns to the Q1 – 2017 level. Given the banks’ continued lending restrictions we’re seeing around 20% fewer cash buyers than this time last year.” Bindi Norwell, REINZ Chief Executive Officer
To view the Real Estate Institute of New Zealand Monthly Report for September>>> Click here
If you would like to know how this could effect the value of your property, contact Anita Dobson on 021 337 093 or anita.dobson@harcourts.co.nz.
Anita Dobson, Harcourts Whangaparaoa.