REINZ stats show regions rocketing!

Thursday, 11 February 2016

REINZ stats show regions rocketing!

“The latest REINZ January statistics released today tell only one real story and that is many of New Zealand’s regions are experiencing a significant lift in both real estate sale prices and sale volumes,” says Geoff Barnett – National Manager of Century 21 New Zealand.

“For once these latest numbers are not about Auckland. Rather what we’re seeing is the likes of Hawkes Bay and Taranaki breaking new records on median prices, with others not far behind.

“As they say, this is the halo effect in action as first home buyers in the regions make the most of low interest rates. At the same time families and retirees are moving to shrink their mortgages and for lifestyle reasons,” says Mr Barnett.

While sales numbers in Auckland were down from January 2015, in the rest of the country they were up significantly with 10 regions recording increases in sales volumes. The likes of Northland, the Bay Of Plenty, Waikato, and Hawkes Bay showed in excess of 25% annual sales growth.

“So you’ve got the likes of Hawkes Bay last month breaking records on median prices and experiencing sales volumes up a staggering 36% on the previous January. That is phenomenal.

“Don’t worry about Auckland slowing down a bit, the real story here is the number of regions rocketing over the past 12 months in both price and sheer sales,” he says.

Mr Barnett says industry feedback reflects the latest REINZ figures with much of the grassroots excitement in real estate now happening outside Auckland.

www.century21.co.nz

ENDS

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