Category: Market News (21)

Here’s the latest news on the real estate market. Watch the video, or read highlights below (and see the graphs).

Points covered:

  • Current state of the market for buyers and sellers
  • How sales compare to the previous year
  • How the new finance rules are affecting the market.


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151 properties sold in Tauranga in May.

In March we experienced the highest number of sales that we’ve seen in a number of years. May was the second highest month in that time.

Below is the chart showing sales by month.

Tauranga Property Total Sales
(Click for larger.)

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Looking at the figures for March there were 162 sales in Tauranga. This is a big number of sales and the highest volume we’ve seen in a number of years.

Sales time is shorter, with properties often selling within two to three weeks. The prices that we are getting are closer to asking price for correctly prices properties.

There is a shortage of houses coming onto the market and there are more people buying. The limited supply and rising demand means prices are strengthening. We’ve been seeing moving into the area from out of town and from overseas.

We don’t see this as a summer trend, it represents where the market is going. People are more willing to make decisions, and don’t feel they have to hold off as much as before.

Bethlehem has seen some strong action. In the last two months, a third on the houses sold in the $500,000 to $700,000 price range were in Bethlehem.

Tauranga Property Report
(Click for larger.)

Summary

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