REINZ Auckland Region Analysis for March 2015 Commentary Price Auckland Region Trends Sales volume in the Auckland region rose by 56% compared to February - in line with, but somewhat stronger than the usual seasonal lift at this time of the year. Sales in North Shore rose 76%, with Auckland City rising 62% and Manukau 48%. Compared to March 2014, sales volumes rose 21%, with sales up 32% in Waitakere and 26% in Rodney. Compared to March 2014 the median price increased by $83,000 (+13.0%), with prices increasing the most in Waitakere, North Shore and Manukau. The region's median price rose by $45,000 (+6.7%) compared to February, with Auckland and Manukau seeing the largest price increases. Auckland's median days to sell improved by two days compared to February, from 32 days in February to 30 days in March. Compared to March 2014 the number of days to sell improved by one day. Over the past 10 years the number of days to sell in March has averaged 33 days in the Auckland region. REINZ Chief Executive, Colleen Milne noted that, "Auckland continues to see demand stronger than the available supply, with new developments across the region barely impacting on demand. Listings remain very tight across the region, with strong demand for $2m+ properties in the north of the region and investor activity to the south. " The trend in the median price continues to improve, although the volume trend has now moved to easing. The days to sell trend has now returned to steady. The overall trend for the region is steady. Auckland is once again the strongest housing market in New Zealand, based on these three trend measures. Mar-15 $865,000 $642,500 $850,000 $682,000 $742,250 $698,000 $597,500 $720,000 North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Volumes Median Price Feb-15 $875,000 $620,000 $753,000 $630,000 $705,000 $670,000 $556,000 $675,000 Mar-14 $749,400 $540,000 $750,000 $591,000 $655,000 $615,000 $531,000 $637,000 Feb-15 -1.1% 3.6% 12.9% 8.3% 5.3% 4.2% 7.5% 6.7% Mar-14 15.4% 19.0% 13.3% 15.4% 13.3% 13.5% 12.5% 13.0% Vs… North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Mar-15 690 485 1,139 690 3,172 293 500 3,672 Days to Sell Volume Sold Feb-15 392 342 704 467 1,996 189 363 2,359 Mar-14 572 369 1,001 608 2,639 232 397 3,036 Feb-15 76.0% 41.8% 61.8% 47.8% 58.9% 55.0% 37.7% 55.7% Mar-14 20.6% 31.4% 13.8% 13.5% 20.2% 26.3% 25.9% 20.9% Vs… Auckland Region Median Price Auckland Region Sales Volumes Past 5 Years Past 5 Years $750,000 4,000 $700,000 3,500 $650,000 3,000 Overall 2,500 $600,000 2,000 $550,000 1,500 $500,000 Source: REINZ 12 month MA Source: REINZ Auckland Volumes 12 month MA Jan-15 Jul-14 Oct-14 Jan-14 Apr-14 Jul-13 Oct-13 Jan-13 Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Oct-10 Apr-10 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Oct-13 Jul-13 Jan-13 Apr-13 Jul-12 Auckland Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Oct-10 Jul-10 0 Apr-10 500 $400,000 Jul-10 1,000 $450,000 REINZ Northland Region Analysis for March 2015 Commentary Price Northland Region Trends Sales volume in Northland rose by 12% compared to March 2014, with volumes rising by 156% in Kerikeri, 21% in Whangarei County and 20% in Whangarei. Compared to February, sales volumes rose 1.5% across the region, with sales rising 35% in Kerikeri and 21% in Whangarei County. The median price across the region rose by $11,500 (+3.7%) compared to March 2014, with prices rising 38% in Whangarei County and 32% in Otamatea County, but falling across the rest of the region. Compared to February, the median price fell $7,000 (-2.1%) with prices rising 39% in Otamatea County and 2% in Kerikeri, but falling elsewhere. Mar-15 $295,000 $456,500 $470,000 $475,000 $320,500 Whangarei City Whangarei County Otamatea County Kerikeri Northland Median Price Feb-15 $306,500 $465,000 $339,250 $465,000 $327,500 Mar-14 $302,000 $330,000 $355,000 $490,000 $309,000 Feb-15 -3.8% -1.8% 38.5% 2.2% -2.1% Mar-14 -2.3% 38.3% 32.4% -3.1% 3.7% Vs… The number of days to sell improved by four days in March, from 72 days in February to 68 days in March. The number of days to sell improved by three days compared to March 2014. Over the past 10 years the average number of days to sell during March for Northland has been 69 days. REINZ Chief Executive, Colleen Milne noted that, "there has been an noticeable increase in Aucklanders looking to buy as well as an increase in demand for higher priced properties, although demand for lower priced homes remain firm. Listings remain tight, although vendors have realistic expectations." Volumes Whangarei City Whangarei County Otamatea County Kerikeri Northland Mar-15 85 34 23 23 208 Days to Sell Volume Sold Feb-15 72 28 28 17 205 Vs… Overall Mar-14 71 28 28 9 186 Feb-15 18.1% 21.4% -17.9% 35.3% 1.5% Mar-14 19.7% 21.4% -17.9% 155.6% 11.8% The trend in sales volumes is now easing, as is the trend in sales volume. The days to sell trend is now falling. The overall trend for the region remains easing. Northland Region Median Price Northland Region Sales Volumes Past 5 Years Past 5 Years $380,000 250 $355,000 200 $330,000 150 $305,000 Source: REINZ 12 month MA Source: REINZ 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Northland Volumes Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Apr-10 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Northland Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 0 Jul-10 $230,000 Oct-10 50 Apr-10 $255,000 Oct-10 100 $280,000 REINZ Waikato/Bay of Plenty Region Analysis for March 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to March 2014 rose 41%, with Waikato Country increasing by 73%, Gisborne by 69% and Eastern BOP Country by 50%. Compared to February, sales across the region rose 10%, with an increase of 79% in Gisborne, 21% in Eastern BOP Country and 19% in Mt Maunganui/Papamoa. The median price across the region fell $5,000 (-1.4%) compared to February with prices rising 17% in Tauranga, 16% in Mt Maunganui/Papamoa, and 9% in Rotorua, but generally easing across the rest of the region. Compared to March 2014 the median price fell by $9,000 (-2.6%) with prices falling 12% in Waikato Country, 7% in Hamilton and 5% in Eastern BOP Country. Although prices did rise in Rotorua, Mt Maunganui/Papamoa and Tauranga. The number of days to sell improved by 20 days in March, from 59 days in February to 39 days in March. The number of days to sell improved by five days compared to March 2014. Over the past 10 years the average number of days to sell during March for the region has been 48 days. REINZ Regional Director, Philip Searle noted that "the market across the region remains buoyant with increases in interest from buyers across the price spectrum, although good value for money is still a key consideration. In a number of locations listings are tight, while others, in the eastern Bay of Plenty in particular, have a good supply of listings." The volume trend has now moved from steady to improving, although the median price trend is still easing. The days to sell trend is also still easing. The overall trend for the region has moved from easing to steady. Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Mar-15 $350,000 $265,000 $432,000 $517,000 $262,550 $350,000 $260,000 $225,000 $340,000 Volumes Median Price Feb-15 $352,000 $261,000 $370,000 $445,000 $240,000 $337,500 $321,000 $218,000 $345,000 Mar-14 $375,000 $304,000 $388,000 $450,000 $225,500 $348,000 $274,000 $217,500 $349,000 Feb-15 -0.6% 1.5% 16.8% 16.2% 9.4% 3.7% -19.0% 3.2% -1.4% Mar-14 -6.7% -12.8% 11.3% 14.9% 16.4% 0.6% -5.1% 3.4% -2.6% Vs… Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Waikato/BOP Region Median Price Price Mar-15 329 277 184 128 106 68 51 61 1,360 Days to Sell Volume Sold Feb-15 308 236 173 108 95 63 42 34 1,233 Mar-14 257 160 127 101 86 49 34 36 968 Feb-15 6.8% 17.4% 6.4% 18.5% 11.6% 7.9% 21.4% 79.4% 10.3% Mar-14 28.0% 73.1% 44.9% 26.7% 23.3% 38.8% 50.0% 69.4% 40.5% Vs… Overall Waikato/BOP Region Sales Volumes Past 5 Years Past 5 Years $375,000 1,600 1,400 $350,000 1,200 1,000 $325,000 800 600 $300,000 400 200 Source: REINZ 12 month MA Source: REINZ Waikato/BOP Volumes 12 month MA Jan-15 Jul-14 Oct-14 Jan-14 Apr-14 Jul-13 Oct-13 Jan-13 Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Oct-10 Jul-10 Apr-10 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Oct-13 Jul-13 Jan-13 Apr-13 Jul-12 Waikato/BOP Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Oct-10 Jul-10 0 Apr-10 $275,000 REINZ Hawkes Bay Region Analysis for March 2015 Commentary Price Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 23% compared to March 2014, with sales rising 150% in Dannevirke, 85% in Hawkes Bay Country and 27% in Napier. Compared to February, sales volumes rose 13%, with sales also rising 150% in Dannevirke, 41% in Hawkes Bay Country and 6% in Napier. The median price fell $12,000 (-4.2%) compared to March 2014 with prices rising 79% in Dannevirke, but falling 9% in Napier, and falling across the rest of the region. Compared to February the median price fell $14,500 (-5.0%) with prices falling 10% in Napier, but rising 63% in Hawkes Bay Country and 60% in Dannevirke. Median Price Feb-15 $325,000 $281,000 $170,000 $101,000 $289,500 Mar-15 $291,500 $287,500 $277,250 $161,500 $275,000 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Vs… The median days to sell for Hawkes Bay improved by six days compared to February, from 51 days in February to 45 days in March. The number of days to sell was improved by two days compared to March 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in March has been 47 days. REINZ Chief Executive, Colleen Milne noted that, "there has been an increase in the number of first home buyers, with a concurrent lift in open home activity. The number of listings has also risen providing greater choice to buyers, although prices remain more or less stable across the region." Mar-14 $321,000 $290,000 $286,000 $90,000 $287,000 Feb-15 -10.3% 2.3% 63.1% 59.9% -5.0% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes Mar-15 104 80 24 20 245 Mar-14 -9.2% -0.9% -3.1% 79.4% -4.2% Days to Sell Volume Sold Feb-15 98 80 17 8 216 Mar-14 82 85 13 8 199 Feb-15 6.1% 0.0% 41.2% 150.0% 13.4% Mar-14 26.8% -5.9% 84.6% 150.0% 23.1% Vs… Overall The median price trend is now falling, along with the sales volume trend. The days to sell trend continues to ease, although the overall trend for the regions remains easing. Hawkes Bay Region Median Price Hawkes Bay Region Sales Volumes Past 5 Years Past 5 Years $325,000 300 250 $300,000 200 $275,000 150 100 $250,000 50 Source: REINZ 12 month MA 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Hawkes Bay Volumes Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Source: REINZ Oct-10 Apr-10 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Hawkes Bay Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Jul-10 Oct-10 0 Apr-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for March 2015 Commentary Price Manawatu/Wanganui Region Trends Sales volumes rose 23% compared to March 2014, with sales rising 88% in Levin, 32% in Manawatu Country and 21% in Palmerston North. Compared to February sales volumes rose 2%, with Levin rising 24%, with the rest of the region with either falling or flat sales. The median price across the region fell $6,000 (-2.6%) compared to February, with prices rising 13% in Levin and 3% in Palmerston North, but falling across the rest of the region. Compared to March 2014 the median price fell $10,000 (-4.2%), with prices rising 10% Manawatu Country and 5% in Feilding, but falling in Wanganui, Levin and Palmerston North. The number of days to sell improved by 20 days compared to February, from 65 days in February to 45 days in March. Compared to March 2014 the number of days to sell improved by 11 days. Over the past 10 years the median number of days to sell across the Manawatu/Wanganui region in March has averaged 44 days. REINZ Chief Executive, Colleen Milne noted that "there are more fist home buyers and investors in the market compared to this time last year, although the market overall remains little changed. Listings remain in good supply." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Mar-15 $301,500 $282,500 $200,000 $170,000 $150,500 $226,000 Median Price Feb-15 $292,250 $285,000 $177,000 $255,000 $150,000 $232,000 Mar-14 $306,250 $268,750 $218,500 $155,000 $184,150 $236,000 Feb-15 3.2% -0.9% 13.0% -33.3% 0.3% -2.6% Mar-14 -1.6% 5.1% -8.5% 9.7% -18.3% -4.2% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes Mar-15 114 28 47 25 52 300 Days to Sell Volume Sold Feb-15 122 30 38 25 55 295 Mar-14 94 24 25 19 55 244 Feb-15 -6.6% -6.7% 23.7% 0.0% -5.5% 1.7% Mar-14 21.3% 16.7% 88.0% 31.6% -5.5% 23.0% Vs… Overall The median price trend continues to ease as does the volume trend. However, the days to sell trend has moved from falling to easing. The overall trend for the region remains easing. Manawatu/Wanganui Region Median Price Manawatu/Wanganui Region Sales Volumes Past 5 Years Past 5 Years $275,000 350 300 $250,000 250 200 $225,000 150 100 $200,000 50 Source: REINZ Manawatu/Wanganui Median Price 12 month MA Manawatu/Wanganui Volumes 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Source: REINZ Oct-10 Apr-10 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Jul-10 Oct-10 0 Apr-10 $175,000 REINZ Taranaki Region Analysis for March 2015 Commentary Price Taranaki Region Trends Sales volume for the Taranaki region rose by 50% compared to February with sales up 106% in Taranaki Country, 83% in Bell Block and 68% in New Plymouth. Compared to March 2014 sales volumes rose by 13% with sales up 144% in Bell Block, 25% in New Plymouth and 21% in Taranaki Country. The median price across the region rose by $32,000 (+11.0%) compared to March 2014, with prices up 13% in Hawera and 4% in New Plymouth. Compared to February the median price rose by $6,500 (+2.1%) with prices falling 30% in Bell Block, 23% in Taranaki Country and by 4% in New Plymouth, but generally rising across the rest of the region. Median Price Feb-15 $373,000 $313,000 $504,500 $224,000 $315,500 Mar-15 $360,000 $240,000 $355,000 $220,000 $322,000 New Plymouth Taranaki Country Bell Block Hawera Taranaki Vs… The number of days to sell improved by 10 days compared to February, from 48 days in February to 38 days in March. Compared to March 2014 the number of days to sell improved by five days. Over the past 10 years the median number of days to sell across the region in March has averaged 42 days. REINZ Chief Executive, Colleen Milne noted that "while there has been a increase in the number of listings, there has been a more noticeable increase in investors in the market, with a fall off in the number of first home buyers. Other buyers are increasingly interested in the upper and middle price brackets as the listing situation improves." Mar-14 $345,000 $240,000 $376,000 $195,000 $290,000 Feb-15 -3.5% -23.3% -29.6% -1.8% 2.1% New Plymouth Taranaki Country Bell Block Hawera Taranaki Volumes Mar-15 111 35 22 19 210 Mar-14 4.3% 0.0% -5.6% 12.8% 11.0% Days to Sell Volume Sold Feb-15 66 17 12 24 140 Mar-14 89 29 9 35 186 Feb-15 68.2% 105.9% 83.3% -20.8% 50.0% Mar-14 24.7% 20.7% 144.4% -45.7% 12.9% Vs… Overall The median price trend continues to ease, as is the days to sell trend. The volume trend continues to fall. The overall trend for the region continues to ease. Taranaki Region Median Price Taranaki Region Sales Volumes Source: REINZ 12 month MA Source: REINZ 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Taranaki Volumes Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Apr-10 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Taranaki Median Price Oct-12 0 Jan-12 $225,000 Apr-12 50 Jul-11 $250,000 Oct-11 100 Jan-11 $275,000 Apr-11 150 Jul-10 $300,000 Oct-10 200 Apr-10 $325,000 Jul-10 Past 5 Years 250 Oct-10 Past 5 Years $350,000 REINZ Wellington Region Analysis for March 2015 Commentary Price Wellington Region Trends The median price for the Wellington region rose by $21,000 (+5.3%) compared to March 2014, with prices rising 17% in Central Wellington and 12% in Nthn Wellington. Compared to February the median price rose $11,000 (+2.7%) with Central Wellington rising 28%, Pukerua Bay/Tawa rising 13% and Nthn Wellington rising 10%. Compared to February sales volumes rose 20% across the region, with sales up 46% in Hutt Valley, 31% in Upper Hutt and 26% in Sthn Wellington. Compared to March 2014 sales volumes rose 19%, with sales rising 44% in Pukerua Bay/Tawa, 41% in Central Wellington, 35% in Upper Hutt and 31% in Eastern Wellington. The number of days to sell improved by 20 days compared to February, from 53 days in February to 33 days in March. Compared to March 2014 the number of days to sell eased by one day. Over the past 10 years the median number of days to sell in March has averaged 33 days across the region. REINZ Regional Director Euon Murrell noted that “The Wellington market continues to move at a steady space with both sales and listings in most areas experiencing an increase . With the market being one of balance it still offers good selling opportunities for well presented property and realistic home sellers “. The trend in the median price continues to ease, although the volume trend is now easing also. The days to sell trend is falling, with the overall trend for the Wellington region continuing to ease. Mar-15 $334,000 $370,000 $527,000 $534,000 $595,000 $621,500 $521,278 $439,000 $421,000 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price Feb-15 $362,000 $380,250 $478,000 $417,500 $585,000 $617,250 $537,500 $389,500 $410,000 Vs… Mar-14 $312,000 $371,250 $470,000 $457,500 $584,000 $580,000 $525,000 $413,500 $400,000 Feb-15 -7.7% -2.7% 10.3% 27.9% 1.7% 0.7% -3.0% 12.7% 2.7% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes Mar-15 77 201 95 83 47 53 48 104 897 Mar-14 7.1% -0.3% 12.1% 16.7% 1.9% 7.2% -0.7% 6.2% 5.3% Days to Sell Volume Sold Feb-15 59 138 90 66 41 43 38 86 747 Mar-14 57 164 81 59 36 44 44 72 753 Feb-15 30.5% 45.7% 5.6% 25.8% 14.6% 23.3% 26.3% 20.9% 20.1% Mar-14 35.1% 22.6% 17.3% 40.7% 30.6% 20.5% 9.1% 44.4% 19.1% Vs… Wellington Region Median Price Wellington Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ 12 month MA Source: REINZ Wellington Volumes 12 month MA Jan-15 Jul-14 Oct-14 Jan-14 Apr-14 Jul-13 Oct-13 Jan-13 Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Oct-13 Jul-13 Jan-13 Apr-13 Jul-12 Wellington Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Oct-10 Jul-10 Apr-10 $350,000 Apr-11 $375,000 Jan-11 $400,000 Oct-10 $425,000 Jul-10 1,000 900 800 700 600 500 400 300 200 100 0 Apr-10 $450,000 Overall REINZ Nelson/Marlborough Region Analysis for March 2015 Commentary Price Nelson/Marlborough Region Trends The median price rose by $2,500 (+0.7%) compared to March 2014 with prices rising 7% in Marlborough/Kaikoura and 5% in Nelson. Compared to February the median price fell by $6,100 (+-1.7%) with prices rising 6% in Motueka and 4% in Nelson, but falling elsewhere across the region. Sales volume compared to March 2014 rose 11%, with sales rising 55% in Motueka, 52% in Richmond and 24% in Marlborough/Kaikoura. Compared to February sales volumes rose by 10%, with sales rising 87% in Motueka and 39% in Richmond. Although sales fell in Nelson compared to both March 2014 and February. Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Median Price Feb-15 $367,000 $460,000 $352,000 $330,000 $364,100 Mar-15 $383,000 $432,500 $372,000 $316,500 $358,000 Vs… The number of days to sell improved by 11 days in March, from 45 days in February to 34 days in March. Compared to March 2014 the number of days to sell improved by two days. Over the past 10 years the median number of days to sell in March has averaged 38 days across the region. REINZ Chief Executive, Colleen Milne noted that "the region is seeing more first home buyers and investors than earlier in the year, but numbers overall are lower than last year. The number of listings has increased, which is providing more choice for buyers, with a resulting increase in open home attendances." Mar-14 $365,000 $453,000 $374,500 $295,000 $355,500 Feb-15 4.4% -6.0% 5.7% -4.1% -1.7% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes Mar-15 92 32 28 110 284 Mar-14 4.9% -4.5% -0.7% 7.3% 0.7% Days to Sell Volume Sold Feb-15 94 23 15 104 258 Mar-14 101 21 18 89 256 Feb-15 -2.1% 39.1% 86.7% 5.8% 10.1% Mar-14 -8.9% 52.4% 55.6% 23.6% 10.9% Vs… Overall The price trend for the region continues to fall, although the sales volume and days to sell trends are now easing. Overall the trend for the region is falling. Nelson/Marlborough Region Median Price Nelson/Marlborough Region Sales Volumes Past 5 Years Past 5 Years $400,000 350 300 $375,000 250 $350,000 200 $325,000 150 100 $300,000 50 Source: REINZ Nelson/Marlborough Median Price 12 month MA Nelson/Marlborough Volumes 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Source: REINZ Oct-10 Apr-10 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Jul-13 Oct-13 Jan-13 Apr-13 Jul-12 Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Oct-10 Jul-10 0 Apr-10 $275,000 REINZ Canterbury/Westland Region Analysis for March 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 13% compared to February, with sales rising 70% in Timaru, 28% in Mid-Canterbury and 14% in Christchurch. Compared to March 2014 sales volume rose 6%, with sales volumes rising 51% in Mid-Canterbury, 24% in Timaru and 9% in Christchurch, although sales were down in other areas. The median price increased by $14,000 (+3.5%) compared to March 2014, with prices rising 12% in Sth Canterbury, 10% in Rangiora and 7% in Nth Canterbury. Compared to February the median price rose $11,500 (+2.9%). Prices rose 10% in Rangiora and 8% on the West Coast. REINZ Regional Director, Jim Davis, commented that, "that listing numbers are good, and up from last month. First home buyer numbers are consistent compared to the last few months, but up approximately 30% when compared to this time last year. The Investors market is consistent over the last few months and compared to this time last year. Overall the market is steady. “ The number of days to sell improved by six days in March, from 36 days in February to 30 days in March. Compared to March 2014 the number of days to sell eased by three days. Over the past 10 years the average number of days to sell in March across the region has been 33 days. The median price trend remains steady, while the sales volume trend is now easing. The days to sell trend continues to fall. The overall trend for the region is now easing. Mar-15 $440,000 $490,000 $402,500 $285,000 $285,000 $249,500 $195,000 $415,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Median Price Feb-15 $425,000 $445,000 $412,500 $308,500 $295,000 $255,000 $180,000 $403,500 Vs… Volumes Mar-14 $418,000 $446,000 $375,000 $285,000 $285,000 $222,500 $245,000 $401,000 Feb-15 3.5% 10.1% -2.4% -7.6% -3.4% -2.2% 8.3% 2.9% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Canterbury/Westland Region Median Price Price Mar-14 5.3% 9.9% 7.3% 0.0% 0.0% 12.1% -20.4% 3.5% Mar-15 664 31 30 59 73 46 13 1,006 Days to Sell Volume Sold Feb-15 581 33 34 46 43 55 23 888 Mar-14 608 44 37 39 59 48 23 948 Feb-15 14.3% -6.1% -11.8% 28.3% 69.8% -16.4% -43.5% 13.3% Mar-14 9.2% -29.5% -18.9% 51.3% 23.7% -4.2% -43.5% 6.1% Vs… Overall Canterbury/Westland Region Sales Volumes Past 5 Years Past 5 Years $425,000 1,400 $400,000 1,200 1,000 $375,000 800 $350,000 600 $325,000 Source: REINZ Canterbury/Westland Median Price 12 month MA Source: REINZ Canterbury/Westland Volumes Jan-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Jan-13 Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Oct-10 Apr-10 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Jul-10 Oct-10 0 Apr-10 200 $275,000 Jul-10 400 $300,000 REINZ Central Otago Lakes Region Analysis for March 2015 Commentary Price Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 27% compared to March 2014, with sales rising 62% in Queenstown and 7% in Central. Compared to February, sales fell 3%, with sales falling 8% in Queenstown but rising 1% in Central. The median price across the region rose $95,000 (+20.7%) compared to March 2014, with prices rising 7% in Central, but falling 4% in Queenstown. Compared to February, the median price rose $65,750 (+13.4%) with prices rising 4% in Central and rising 13% in Queenstown. The number of days to sell improved by nine days compared to February, from 54 days in February to 45 days in March. Compared to March 2014 the number of days to sell improved by eight days. Over the past 10 years the average number of days to sell in March across the region has been 59 days. Days to Sell Volume Sold Mar-15 Feb-15 79 78 68 74 147 152 Median Price Feb-15 Mar-14 $415,000 $405,000 $568,250 $663,500 $489,250 $460,000 Mar-15 $433,000 $640,000 $555,000 Central Queenstown Central Otago Lakes Volumes Vs… Feb-15 4.3% 12.6% 13.4% Central Queenstown Central Otago Lakes Mar-14 6.9% -3.5% 20.7% Vs… Overall Mar-14 74 42 116 Feb-15 1.3% -8.1% -3.3% Mar-14 6.8% 61.9% 26.7% REINZ Chief Executive, Colleen Milne commented that "investors continue to return to the market in increasing numbers, with rental rates on the rise making investment more attractive. Attendances at open homes are up, although the number of listings remains tight, indicating that demand is noticeably stronger than supply." The median price trend is now improving, although the volume trend is now falling. The days to sell trend remains steady. The overall trend remaining steady. Central Otago Lakes Region Median Price Central Otago Lakes Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ Central Otago Lakes Median Price 12 month MA Source: REINZ Central Otago Lakes Volumes 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Jul-10 Oct-10 Apr-10 $375,000 Apr-11 $425,000 Jan-11 $475,000 Jul-10 $525,000 Oct-10 180 160 140 120 100 80 60 40 20 0 Apr-10 $575,000 REINZ Otago Region Analysis for March 2015 Commentary Otago Region Trends The median price across Otago fell $5,832 (-2.2%) compared with March 2014, with prices falling 20% in South Otago, and 7% in North Otago. Compared to February the median price fell by $8,332 (-3.1%) with prices falling 22% in South Otago, but rising 18% in North Otago. Sale volumes rose 7% compared to March 2014 with sales rising 31% in South Otago and 10% in Dunedin. Compared to February sales volumes rose 5%, with sales rising 17% in South Otago, 12% in North Otago and 1% in Dunedin. Median Price Feb-15 $281,500 $182,750 $172,500 $267,500 Mar-15 $280,000 $215,000 $135,000 $259,168 Dunedin North Otago South Otago Otago Price Vs… The number of days to sell in Otago improved by one day in March, from 31 days in February to 30 days in March. Compared to March 2014 the number of days to sell eased by one day. Over the past 10 years the number of days to sell in March for the Otago region has been 33 days. Mar-14 $280,000 $230,000 $168,000 $265,000 Feb-15 -0.5% 17.6% -21.7% -3.1% Dunedin North Otago South Otago Otago Volumes Mar-15 208 38 21 276 Mar-14 0.0% -6.5% -19.6% -2.2% Days to Sell Volume Sold Feb-15 206 34 18 263 Mar-14 189 49 16 259 Feb-15 1.0% 11.8% 16.7% 4.9% Mar-14 10.1% -22.4% 31.3% 6.6% Vs… Overall REINZ Regional Director Liz Nidd commented that, "first home buyers are continuing to become active in the market with good open home attendances. There are indications that more buyers are coming from outside the region which is lifting demand. The number of listings has also increased, helping with buyer choice." The trend in the median price and sales volume are easing, although the trend in days to sell is now steady. The overall trend for the region remains easing. Otago Region Median Price Otago Region Sales Volumes Past 5 Years Past 5 Years $275,000 400 350 $250,000 300 250 $225,000 200 150 $200,000 100 50 Source: REINZ 12 month MA 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Otago Volumes Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Source: REINZ Oct-10 Apr-10 Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Otago Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Jul-10 Oct-10 0 Apr-10 $175,000 REINZ Southland Region Analysis for March 2015 Commentary Southland Region Trends The median price across Southland rose $10,000 (+5.7%) compared to March 2014, with a 6% increase in Invercargill and a 4% fall in Gore. Compared to February the median price fell by $5,750 (-3.0%) with prices rising 25% in Gore but falling 11% in Invercargill. Sales volumes rose 39% compared to February, with a 100% increase in Gore and a 29% increase in Invercargill. Compared to March 2014 sales volumes rose 21%, with a 214% increase in Gore and a 3% increase in Invercargill. The number of days to sell in Southland improved by four days compared to February, from 51 days in February to 47 days in March. Compared to March 2014 the number of days to sell eased by 10 days. Over the past 10 years the number of days to sell in March for the Southland region has been 35 days. Volumes Days to Sell Volume Sold Mar-15 Feb-15 120 93 44 22 198 142 Median Price Feb-15 Mar-14 $210,000 $175,000 $113,500 $147,500 $190,750 $175,000 Mar-15 $186,000 $141,500 $185,000 Invercargill Gore Southland Price Vs… Feb-15 -11.4% 24.7% -3.0% Invercargill Gore Southland Mar-14 6.3% -4.1% 5.7% Vs… Overall Mar-14 117 14 164 Feb-15 29.0% 100.0% 39.4% Mar-14 2.6% 214.3% 20.7% REINZ Chief Executive, Colleen Milne commented that "the Southland market is becoming more active, with good numbers of listings, an increase in first home buyer interest and more investors active in the market." The median price trend continues to ease along with the sales volume trend. The days to sell trend is now also easing, with the overall trend for the region easing. Southland Region Median Price Southland Region Sales Volumes Past 5 Years Past 5 Years $250,000 250 200 $225,000 150 $200,000 100 $175,000 50 Source: REINZ 12 month MA 12 month MA Jan-15 Jul-14 Oct-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Southland Volumes Oct-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Source: REINZ Oct-10 Apr-10 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Oct-13 Jul-13 Jan-13 Apr-13 Jul-12 Southland Median Price Oct-12 Jan-12 Apr-12 Jul-11 Oct-11 Jan-11 Apr-11 Oct-10 Jul-10 0 Apr-10 $150,000 REAL ESTATE INSTITU TE OF REINZ NEW ZEALAND