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Harcourts May MarketWatch
Harcourts May MarketWatch
Figures continue to show signs of positivity this month especially in the Central region, but a commonality prevails. The real estate industry, although showing positive signs amongst the public and real estate agents, is on the upward curve from one of the biggest lows in fifteen years. Record interest rate lows and first home buyer and investor activity are helping the surge. National figures show this by way of the average sale price on the rise by 3.5% and more business being written, up 22% on last year. Property on hand and exclusive listings will remain low both at -2.2% due to the demand and the lack of stock on hand, but our cousins across the ditch may just encourage positive spending in New Zealand.
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Disclaimer: All Harcourts MarketWatch figures are current to the end of the reported month and are compared to the same month ended for the previous year. ‘Written Sales’ is defined by all sales brought to contract status, where ‘Settled Sales’ are the results of contracts completed at the close of the reported month. Written Sales are a snapshot of the markets temperature while Settled Sales show what has happened in the previous month.
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