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REINZ ; Regional markets continue to strengthen

By Julie Halligan

The Real Estate Institute of New Zealand has released its latest market analysis of the regional property markets for December 2015. The pace for 2015 was fast and furious for most of the year however December’s figures were notable for a slight drop in sales compared to the previous month of November. Activity in the south of Auckland continues to grow apace and the Southern Corridor Realty Ltd experienced a very busy month of December as vendors and buyers alike pursued settlements dates prior to the Christmas break.

The summary of the REINZ report is as follows;

“7,313 dwellings sold in New Zealand in December 2015, up 3.5% on December 2014, but down 9.1% on November
National median price of $465,000, up $15,000 (+3.3%) on December 2014 and up 1.2% on November
A new record national median price excluding Auckland of $379,000, (+8.0%) compared to December 2014 and up 1.1% on November; this is the fourth consecutive record median in 2015
New record median prices also for Waikato/Bay of Plenty, Hawke’s Bay, Wellington, Nelson/Marlborough and Otago
A rise of $92,000 (+13.6%) in Auckland’s median price, between December 2014 to December 2015 – from $678,000 to $770,000, and a rise of $5,000 (+0.7%) compared to November
Nationally a 20% rise in the number of sales over $1 million between December 2014 and December 2015 – from 629 to 755
20,070 dwellings sold by auction in the 12 months to December 2015, representing 22.2% of all sales, an increase of 45% in the number sold by auction in the 12 months to December 2014.

For the full press release please follow this link to the Real Estate Institute of New Zealand website ; REINZ Residential Markets Report for December 2015

Photo of the view from Patumahoe Hill. Courtesy of www.patumahoe.org

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