Ray White Now - December 2020
/The Ray White group released their November sales figures which were the best on record, and these were reflected through the Real Estate Institute of New Zealand data which shows the highest number of property sold in the New Zealand residential sector since March 2007. Overall, the number of residential properties sold in November 2020 across New Zealand increased by 29.6 per cent from the same time last year. 9,885 properties were sold which is the highest recorded sales for the past 13 years. The regional areas outside of Auckland showed that the number of sales increased by 18.3 per cent for the month. While the Auckland area showed a much stronger increase of 53.9 per cent year-on-year to be the highest number of sales since records have begun being taken by the Real Estate Institute. House prices, of course, have been in the news of late in regard to the annual increases and these continued during November across New Zealand. The strongest markets showed the Tasman region has increased by 28 per cent followed closely by the Manawatu/Whanganui region with a 25.8 per cent increase with property having an average median price of $500,000 in this area. Southland increased by 23.6 per cent, while the region of Taranaki showed an increase of 21.7 per cent. In total 11 regions saw a record median price achieved during November with New Zealand’s average median price moving to $749,000. A report released this week by Housing Stats New Zealand shows several interesting changes in demographic and geographic ownership of property. While there are a number of highlighted comments through this report, it does show the depth of housing throughout New Zealand and the strength of the general outlook that New Zealanders have on the purchasing and renting of property. Our Ray White numbers continue to increase with listings coming onto the market in good supply. As we move closer to the Christmas and New Year period, we continue to encourage sellers to list their property positively in regard to marketing as we believe that being able to digitise properties in the marketing area over the Christmas and New Year period will bring positive results for those who are considering selling. The buyer market continues with good strength and depth. Interest rates continue to remain low and this is providing a good level of affordability for those who are considering purchasing. Ray White Now is produced in conjunction with real-time data from our 182 offices across New Zealand. Ray White, on a monthly basis, completes over $1.866 billion worth of property transactions and currently manages a portfolio of 19,228 properties through our property management division. We welcome your enquiry to assist with your real estate needs across New Zealand.
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