Ray White Now New Zealand - October Edition - Page 16

PROVINCIAL CENTRES , NORTH ISLAND
The Bay of Plenty town of Kawerau has experienced the most house price growth as a percentage this quarter ( 14.6 per cent ), followed by Central Hawke ’ s Bay District ( 7.5 per cent ) and last month ’ s leader , Waikato District ( 7.1 per cent ).
It ’ s a completely different story in terms of annual house price growth , with Horowhenua ( 38.6 per cent ) leading and Whanganui ( 37.1 per cent ) and Taupo ( 36.3 per cent ) in second and third place respectively .
PROVINCIAL CENTRES , SOUTH ISLAND
In the South Island , Westland is top of the provincial charts with house prices rising by an average of 16.5 per cent this quarter , with the Canterbury districts of Waimate ( 13.5 per cent ), Selwyn ( 11.2 per cent ) and Waimakariri ( 10 per cent ) not far behind .
In terms of annual house price growth , Waimate stands head and shoulders above the rest at 42 per cent , with Selwyn ( 34.3 per cent ) and Grey ( 33.3 per cent ) its nearest competitors .
Over the past ten years , the national stock has decreased . While this is more polarised in percentage terms than ever , it has been somewhat of a steady decline in the last ten years that has seen stock decrease from a high of 50,000 properties on the market to today being at a level of 12,600 . Sales numbers , however , have not decreased . Given that there are around 8,000 property sales per month , the inventory level and stock availability are at approximately 40 days . This means addressing housing stock challenges and incentivising new builds is a priority of the government .
Source : realestate . co . nz
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