Ray White Now New Zealand - October Edition - Page 4

DEAR PROPERTY OWNER ,
Our 45th edition of Ray White Now welcomes us to uncertain times , given that , as a country , we remain at varied Alert Levels across New Zealand .
While it is difficult to take a read from the September sales volume and sales numbers , there has certainly been a strong rebound in the number of listings and sales that have been conducted since the change of Alert Levels which has allowed safe trading in all marketplaces , although some are more restricted than others .
In isolation , the September numbers saw lower activity across Auckland while the balance of New Zealand started to see an uplift . Compared to September 2020 , the average median sale price has increased by 15.4 per cent to $ 795,000 in September 2021 .
Seven out of the 16 regions measured by the Real Estate Institute of New Zealand saw new record median prices . This was evidenced in the median house price for areas outside of Auckland increasing by 23.1 per cent to a new record of $ 720,000 .
We look more closely at the regions that reached record median prices in September throughout our report .
It was always going to be the case that sales numbers of residential property were going to be down during September considering the restrictive trading . And that was the case , with sales numbers down 37.9 per cent . Given there was a crossover between August 2021 and September 2021 with level 4 lockdown conditions , the result was only half of what was experienced during the first level 4 lockdown in April 2020 .
One of the most important factors in the real estate market is the inventory level , being the number of houses available for sale . Year on year , this has decreased by 23.7 per cent , with the number of properties now available being 13,407 compared to the same time last year of 17,576 . This backed onto a decrease in August of 9.5 per cent .
However , it is pleasing to note that during the first weeks of activity out of level 4 lockdown we have seen a substantive rebound in the number of new listings coming to the market . This will give buyers confidence and , in turn , will be able to continue to unlock new properties for sale , which is starting to lift inventory numbers . Our real-time data shows that the number of properties available through Ray White is almost the same as 2020 , given the spring lift has occurred , although it is in restrictive trading .
3,000
# Live Listings / 28 days
2,500 2,000 1,500 1,000
500
Feb Mar Apr May Jun Jul Aug Sep Oct Nov
2019 2020 2021
4
Source : Ray White Online Analytics