Property Market Insights for Motueka August 2019
Articles,  Blog

Property Market Insights for Motueka August 2019


Hello πŸ™‚ You’re with Aurora from Bayleys
Motueka. The latest property stats came out last week from the REINZ website So that’s for the month of August, but statistics come out in September You can go to REINZ.co.nz and download the full report and you’ll get a good overview of how the New Zealand market is moving. As I said at the start of last month’s video, what you don’t get from that website is information specific to our little home of Motueka. Because we are small
enough that we don’t have an impact on the national
statistics. So I’ve done some research for you and this should help you
understand what’s happening locally. I’m looking at quarterly median statistics which means the data from the last three months is combined. Three months is long enough to give a good overview of our relatively small market If we try to narrow it down to month by month we get a little bit too much variation. So what I’m seeing is, for the first time since December, the median house price has declined. So in July we saw a peak of $580,000 – that was the median sale
price and in August it was down at $555,000 So this puts prices at the same
level now that they were in June. Even though the quarterly price is down from last month, it’s interesting to note that it’s still up on the same time last year, by an increase of 11%. So over the larger scale (over one year) we’ve seen an increase of 11%. In the meantime there have been ups and downs. In general property prices are following the gentle uplift that they’ve been in for the last year. Days to sell is the other important statistic that I keep an eye on because it shows how much
demand there is for property or how keen buyers are… or rather how in line buyers are with sellers in terms of their expectations for price. August’s quarterly median days to sell was sitting at 56 (which was reasonably high) suggesting that buyers are taking
their time and they’re comfortable to sit back a little bit and wait for the right
property to come along at the right price So what’s really important if
you’re selling at the moment in this market is that you get the price right
to make sure that you attract enough interest. So feel free to contact me if
you’d like to know more about property prices in Motueka or if you’d like to know what your property might be likely to sell for I’m here to help! I welcome the opportunity to work with you, friends or family in any real estate matter. You can find my contact details through Facebook or online. I’m pretty easy to get hold of. You’ve been with Aurora from Bayleys Motueka. Thanks for your time! Talk to you next month πŸ™‚

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