It’s been a very busy couple of months leading into the Christmas break...
...and we are still seeing Auckland operating in a buyer led environment where house price expectations and values are steady, rather than falling as they have been. Outside of Auckland, prices have risen 7.5% over the past year and regionally, Hawkes Bay, Tauranga and the Southern Lakes continue to out perform with prices up more than 10% year on year.
In general, we are operating in a cycle transition phase where it’s hard to gauge where the trend is settling. The RBNZ is easing LVR’s, interest rates are historically very low and population growth is supportive but buyer demand is not as strong as it previously was and the real effect of Government’s policy changes is yet to be tested. Taking this into account, and a record breaking sales month in November, our performance over the year is really encouraging for a great 2019.
You can read regional data and analytics here.
Have a fantastic Christmas.
Mark Harris & Julian Brown