Ray White Now New Zealand - September Edition - Page 5

year and 22.54 per cent down on the previous year . In aggregate numbers , this sees us holding around 800 fewer properties ; however , the number of listings continues to be positive , but given the strength of the buyer market , there is not enough stock replacement for the amount of demand . This , clearly , is an opportunity for those who are considering selling .
For Ray White , in August , residential property sold across New Zealand increased slightly by 7.6 per cent . August 2020 was the first full month of real estate market activity post-lockdown and saw an unusually high level of sales . What we see this August is far more aligned to the usual winter sales numbers , albeit in a highdemand , supply-constrained market .
Looking back on July , where we have complete data for New Zealand , excluding Auckland , the number of properties sold in July decreased by 17.2 per cent compared to last year ( 5,427 to 4,496 ). In Auckland , the number of properties sold in July decreased by 0.6 per cent year-onyear ( 2,708 to 2,691 ). In July , two regions out of sixteen saw annual increases in sales volumes . Regions with increases were : Northland : + 7.8 per cent ( 218 to 235 – 17 more
# Listings OTM
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houses ) – the highest for a July month since 2016 . Gisborne : + 70.6 per cent ( 34 to 58 – 24 more houses ) – the highest for a July month since 2016 .
The Reserve Bank released figures showing $ 8.8 billion worth of mortgages advanced , the highest recorded for July . During the previous 12 months , a hundred billion dollars worth of lending has taken place . Banks are continuing to lend at record levels , and it is now the owner-occupiers doing a lot of the borrowing , and they are the big movers in the share of the lending . The latest Reserve Bank figures show the first home buyers share is now 18.2 per cent , which is lower than the previous month . During July , the total money borrowed by investors was $ 1.472 billion , which represented 16.7 per cent of the total market . The continuing strong interest of the owner-occupiers continues to show renewed momentum for July . The owner-occupier share rose to 64.1 per cent , with their borrowing capacity reaching $ 5.65 billion , a residential record for owner-occupiers in July .
In the current conditions , it is difficult to make any reasonable prediction other than what we can see on a daily basis . The amount of enquiry we are receiving on property is at an extraordinary level . Given that viewings and conversations occur online , the opportunity for people to virtually list their property is much more accepted than in the past . Buyers are willing to consider placing offers subject to conditions , allowing the market to continue to operate positively . It will never be as good as unrestricted trading levels , but we encourage those looking to sell to talk with your Ray White representative .
Ray White Now is produced in conjunction with real-time data from our 187 offices across New Zealand . On an annual basis , Ray White completes $ 20.18 billion worth of property transactions and currently manages a portfolio of 20,045 properties through our property management division .
Carey Smith Ray White New Zealand Chief Executive