REINZ Auckland Region Analysis for April 2015 Commentary Price Auckland Region Trends Sales volume in the Auckland region fell by 25% compared to March, in line with the seasonal trend at this time of the year. Compared to April 2014, sales rose by 25% across the region with rises of 53% in Rodney and 44% in Outer Auckland. Within the urban area sales were strongest in North Shore followed by Auckland City. Compared to April 2014 the median price increased by $108,500 (+17.7%), with prices increasing the most in North Shore, Outer Auckland and Rodney. The region's median price was steady at $720,000 compared to March, although prices by rose by 7% in North Shore. Auckland's median days to sell was steady at 30 days compared to March and April 2014. Over the past 10 years the number of days to sell in April has averaged 33 days in the Auckland region. Apr-15 $925,000 $633,500 $789,000 $689,000 $745,000 $691,500 $579,500 $720,000 North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Median Price Mar-15 $865,000 $642,500 $850,000 $682,000 $742,250 $698,000 $597,500 $720,000 Apr-14 $735,000 $550,000 $699,000 $586,000 $631,750 $565,000 $465,000 $611,500 Mar-15 6.9% -1.4% -7.2% 1.0% 0.4% -0.9% -3.0% 0.0% Apr-14 25.9% 15.2% 12.9% 17.6% 17.9% 22.4% 24.6% 17.7% Vs… REINZ Chief Executive, Colleen Milne noted that, "the Auckland region continues to see strong demand from all types of property buyers and low levels of new listings. Vendor expectations are continuing to move higher across the region, with an increasing number of suburbs seeing the median price above $1 million. " The trend in the median price continues to improve, although the volume trend continues to ease. The days to sell trend remains steady. The overall trend for the region is steady. Volumes North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Apr-15 507 344 880 527 2,375 204 384 2,759 Days to Sell Volume Sold Mar-15 690 485 1,139 690 3,172 293 500 3,672 Vs… Auckland Region Sales Volumes Past 5 Years Past 5 Years 4,000 $700,000 3,500 $650,000 3,000 Apr-14 409 318 711 432 1,944 133 266 2,210 Mar-15 -26.5% -29.1% -22.7% -23.6% -25.1% -30.4% -23.2% -24.9% Auckland Region Median Price $750,000 Overall Apr-14 24.0% 8.2% 23.8% 22.0% 22.2% 53.4% 44.4% 24.8% 2,500 $600,000 2,000 $550,000 1,500 $500,000 Source: REINZ 12 month MA Source: REINZ Auckland Volumes 12 month MA Feb-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 Feb-13 May-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 May-10 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Auckland Median Price Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 Aug-10 0 May-10 500 $400,000 Aug-10 1,000 $450,000 REINZ Northland Region Analysis for April 2015 Commentary Price Northland Region Trends Sales volume in Northland rose by 68% compared to April 2014, with volumes rising by 100% in Whangarei County and 81% in Whangarei City. Compared to March, sales volumes rose 15% across the region, with sales rising 17% in Kerikeri and 13% in Whangarei City. The median price across the region rose by $26,250 (+8.2%) compared to March, with prices falling in the main centres, but rising elsewhere across the region. Compared to April 2014, the median price rose $1,750 (+0.5%) with prices down slightly in Whangarei City and Whangarei County, but rising across the rest of the region. Apr-15 $282,500 $434,750 $420,000 $409,500 $346,750 Whangarei City Whangarei County Otamatea County Kerikeri Northland Median Price Mar-15 $295,000 $456,500 $470,000 $475,000 $320,500 Apr-14 $290,000 $435,000 $455,000 $477,500 $345,000 Mar-15 -4.2% -4.8% -10.6% -13.8% 8.2% Apr-14 -2.6% -0.1% -7.7% -14.2% 0.5% Vs… The number of days to sell improved by eight days, from 68 days in March to 60 days in April. The number of days to sell improved by five days compared to April 2014. Over the past 10 years the average number of days to sell during April for Northland has been 57 days. REINZ Chief Executive, Colleen Milne noted that, "momentum in the Northland region is rising with strong increases in both the median price and sales volumes over the past few months. Demand is rising in Whangarei and the Bay of Islands in particular, with noticeable numbers of buyers in the market." Volumes Whangarei City Whangarei County Otamatea County Kerikeri Northland Apr-15 96 38 21 27 240 Days to Sell Volume Sold Mar-15 85 34 23 23 208 Vs… Overall Apr-14 53 19 13 20 143 Mar-15 12.9% 11.8% -8.7% 17.4% 15.4% Apr-14 81.1% 100.0% 61.5% 35.0% 67.8% The trend in medium price is now easing, although the trend in sales volume is now rising. The days to sell trend continues to fall, although the overall trend for the region is now steady. Northland Region Median Price Northland Region Sales Volumes Source: REINZ 12 month MA Source: REINZ 12 month MA Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Northland Volumes Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 May-10 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Northland Median Price Nov-12 0 Feb-12 50 $230,000 May-12 100 $255,000 Aug-11 $280,000 Nov-11 150 Feb-11 $305,000 May-11 200 Aug-10 $330,000 Nov-10 250 May-10 $355,000 Aug-10 Past 5 Years 300 Nov-10 Past 5 Years $380,000 REINZ Waikato/Bay of Plenty Region Analysis for April 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to April 2014 rose 53%, with Taupo increasing by 166%, Waikato Country by 82% and Eastern BOP Country by 71%. Compared to March, sales across the region fell 12%, although sales in Taupo increased by 25% and by 4% in Eastern BOP Country. The median price across the region rose $10,000 (+2.9%) compared to March with prices rising 7% in Hamilton, 6% in Gisborne and 3% in Rotorua. Compared to April 2014 the median price rose by $2,000 (+0.6%) with prices rising 10% in Mt Maunganui/Papamoa, 9% in Rotorua and 7% in Tauranga. The number of days to sell eased by three days, from 39 days in March to 42 days in April. The number of days to sell improved by three days compared to April 2014. Over the past 10 years the average number of days to sell during April for the region has been 49 days. REINZ Regional Director, Philip Searle noted that "sales volumes across the region have become noticeably stronger, with a solid upward trend, although prices remain somewhat patchy. Attendances at open homes are still strong and there has been an increase in the number of listings available providing buyers with more choice." 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 Apr-15 $375,000 $261,250 $386,000 $495,000 $269,000 $332,000 $258,000 $238,500 $350,000 Volumes Median Price Mar-15 $350,000 $265,000 $432,000 $517,000 $262,550 $350,000 $260,000 $225,000 $340,000 Apr-14 $360,500 $262,500 $360,064 $450,000 $246,000 $370,000 $315,000 $240,000 $348,000 Mar-15 7.1% -1.4% -10.6% -4.3% 2.5% -5.1% -0.8% 6.0% 2.9% Apr-14 4.0% -0.5% 7.2% 10.0% 9.3% -10.3% -18.1% -0.6% 0.6% 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 Apr-15 296 240 144 103 83 85 53 44 1,203 Days to Sell Volume Sold Mar-15 329 277 184 128 106 68 51 61 1,360 Vs… Overall Apr-14 204 132 114 99 49 32 31 33 785 Mar-15 -10.0% -13.4% -21.7% -19.5% -21.7% 25.0% 3.9% -27.9% -11.5% Apr-14 45.1% 81.8% 26.3% 4.0% 69.4% 165.6% 71.0% 33.3% 53.2% 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 Feb-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 Feb-13 May-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 May-10 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Waikato/BOP Median Price Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 Aug-10 0 May-10 $275,000 REINZ Hawkes Bay Region Analysis for April 2015 Commentary Price Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 39% compared to April 2014, with sales rising 62% in Hastings and 52% in Napier. Compared to March, sales volumes fell 16%, with sales rising 8% in Hastings, but falling 13% in Napier, 50% in Dannevirke and 63% in Hawkes Bay Country. The median price rose $36,000 (+13.4%) compared to April 2014 with prices rising 20% in Napier and 6% in Hastings, but falling 29% in Hawkes Bay Country. Compared to March the median price rose $30,000 (+10.9%) with prices rising 17% in Napier and 7% in Hastings, although falling 26% in Dannevirke and 53% in Hawkes Bay Country. Median Price Mar-15 $291,500 $287,500 $277,250 $161,500 $275,000 Apr-15 $340,000 $307,500 $130,000 $119,000 $305,000 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Vs… The median days to sell for Hawkes Bay eased by two days compared to March, from 45 days in March to 47 days in April. The number of days to sell was improved by seven days compared to April 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in April has been 47 days. REINZ Chief Executive, Colleen Milne noted that, "there has been an increase in first home buyers in the market, indicating that buyers have a bit more confidence currently. While there has been an increase in the number of listings in higher price brackets the situation in lower price backers remains tight." Apr-14 $282,500 $290,000 $183,500 $123,500 $269,000 Mar-15 16.6% 7.0% -53.1% -26.3% 10.9% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes Apr-15 91 86 9 10 206 Apr-14 20.4% 6.0% -29.2% -3.6% 13.4% Days to Sell Volume Sold Mar-15 104 80 24 20 245 Vs… Overall Apr-14 60 53 11 14 148 Mar-15 -12.5% 7.5% -62.5% -50.0% -15.9% Apr-14 51.7% 62.3% -18.2% -28.6% 39.2% The median price trend is now easing, along with the sales volume trend. The days to sell trend is now steady, although the overall trend for the region 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Hawkes Bay Volumes Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Source: REINZ Nov-10 May-10 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Hawkes Bay Median Price Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Aug-10 Nov-10 0 May-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for April 2015 Commentary Price Manawatu/Wanganui Region Trends Sales volumes rose 30% compared to April 2014, with rises of 44% in Levin, 34% in Palmerston North and 32% in Feilding. Compared to March sales volumes fell 7%, although sales rose 32% in Feilding and were steady in Palmerston North. The median price across the region fell $4,000 (-1.8%) compared to March, with prices falling 2% in Wanganui, 11% in Palmerston North and 12% in Levin. Compared to April the median price fell $7,355 (3.2%), with prices rising 23% in Feilding and 5% in Manawatu Country, but falling in Levin, Palmerston North and Wanganui. The number of days to sell eased by eight days compared to March, from 45 days in March to 53 days in April. Compared to April 2014 the number of days to sell also eased by eight days. Over the past 10 years the median number of days to sell across the Manawatu/Wanganui region in April has averaged 46 days. REINZ Chief Executive, Colleen Milne noted that "there are generally fewer buyers in the market than a month ago, with the number of listings also falling. This is putting pressure on buyer choice and has seen an increase in the numbers attending open homes." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Apr-15 $268,500 $283,000 $176,000 $182,000 $147,500 $222,000 Median Price Mar-15 $301,500 $282,500 $200,000 $250,000 $150,500 $226,000 Apr-14 $288,250 $229,355 $195,000 $174,000 $176,500 $229,355 Mar-15 -10.9% 0.2% -12.0% -27.2% -2.0% -1.8% Apr-14 -6.9% 23.4% -9.7% 4.6% -16.4% -3.2% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes Apr-15 114 37 36 23 44 279 Days to Sell Volume Sold Mar-15 114 28 47 25 52 300 Vs… Overall Apr-14 85 28 25 18 34 214 Mar-15 0.0% 32.1% -23.4% -8.0% -15.4% -7.0% Apr-14 34.1% 32.1% 44.0% 27.8% 29.4% 30.4% The median price trend continues to ease, although the volume trend is now steady. The days to sell trend continues to ease. 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Source: REINZ Nov-10 May-10 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Aug-10 Nov-10 0 May-10 $175,000 REINZ Taranaki Region Analysis for April 2015 Commentary Price Taranaki Region Trends Sales volume for the Taranaki region rose by 19% compared to April 2014 with sales up 65% in Taranaki Country, 8% in New Plymouth and 5% in Hawera. Compared to March sales volumes fell by 17% with sales up 11% in Hawera, but falling 20% in Taranaki Country, 25% in New Plymouth and 46% in Bell Block. The median price across the region fell by $12,500 (-4.0%) compared to April 2014, with prices up 1% in Hawera, but falling 4% in New Plymouth and 16% in Taranaki Country. Compared to march the median price fell by $24,500 (-7.6%) with prices rising 18% in Hawera, but falling 4% in Bell Block and New Plymouth. Median Price Mar-15 $360,000 $240,000 $355,000 $220,000 $322,000 Apr-15 $347,000 $206,500 $342,500 $260,000 $297,500 New Plymouth Taranaki Country Bell Block Hawera Taranaki Vs… The number of days to sell eased by 13 days compared to March, from 38 days in March to 51 days in April. Compared to April 2014 the number of days to sell eased by three days. Over the past 10 years the median number of days to sell across the region in April has averaged 44 days. REINZ Chief Executive, Colleen Milne noted that "the Taranaki market has seen some strong buyer activity, particularly in the mid-price range, although the number of sales has pulled back from the number recorded in March. Listings remain in reasonable supply, although the number of sales is exceeding the number of new listings." Apr-14 $359,500 $245,000 $442,500 $257,000 $310,000 Mar-15 -3.6% -14.0% -3.5% 18.2% -7.6% New Plymouth Taranaki Country Bell Block Hawera Taranaki Volumes Days to Sell Volume Sold Mar-15 111 35 22 19 210 Apr-15 83 28 12 21 174 Apr-14 -3.5% -15.7% -22.6% 1.2% -4.0% Vs… Overall Apr-14 77 17 16 20 146 Mar-15 -25.2% -20.0% -45.5% 10.5% -17.1% Apr-14 7.8% 64.7% -25.0% 5.0% 19.2% The median price trend continues to ease, although the days to sell trend is now steady. 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Taranaki Volumes Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 May-10 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Taranaki Median Price Nov-12 0 Feb-12 $225,000 May-12 50 Aug-11 $250,000 Nov-11 100 Feb-11 $275,000 May-11 150 Aug-10 $300,000 Nov-10 200 May-10 $325,000 Aug-10 Past 5 Years 250 Nov-10 Past 5 Years $350,000 REINZ Wellington Region Analysis for April 2015 Commentary Price Wellington Region Trends The median price for the Wellington region fell by $3,750 (-0.9%) compared to April 2014, with prices rising in Pukerua Bay/Tawa, Southern Wellington and Upper Hutt but falling across the rest of the region. Compared to March the median price fell $9,750 (-2.3%) with Upper Hutt and Southern Wellington seeing price increases. Compared to April 2014 sales volumes rose 22% across the region, with sales up 89% in Hutt Valley, 60% in Southern Wellington and 56% in Western Wellington. Compared to March sales volumes fell 16%, with sales rising 17% in Southern Wellington and 6% in Western Wellington, although falling 35% in Central Wellington, 28% in Eastern Wellington and 27% in Upper Hutt. The number of days to sell eased by six days compared to March, from 33 days in March to 39 days in April. Compared to April 2014 the number of days to sell eased by five days. Over the past 10 years the median number of days to sell in April has averaged 37 days across the region. REINZ Regional Director Euon Murrell noted that "the market remains one of consistency in the Wellington region in both volume and prices . A good supply of listings are available, however buyers are still showing caution when making the buying decision. The end result is vendors with realistic expectations reaping the benefit." The trend in the median price continues to ease, although the volume trend is now steady. The days to sell trend is falling, with the overall trend for the Wellington region continuing to ease. Apr-15 $349,000 $365,000 $472,500 $397,500 $545,600 $571,000 $538,550 $423,375 $411,250 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price Mar-15 $334,000 $370,000 $527,000 $534,000 $595,000 $621,500 $521,278 $439,000 $421,000 Vs… Wellington Region Median Price Apr-14 $340,000 $390,000 $520,000 $535,500 $568,500 $605,500 $507,500 $388,000 $415,000 Mar-15 4.5% -1.4% -10.3% -25.6% -8.3% -8.1% 3.3% -3.6% -2.3% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes Apr-15 56 183 72 54 34 56 56 82 750 Apr-14 2.6% -6.4% -9.1% -25.8% -4.0% -5.7% 6.1% 9.1% -0.9% Days to Sell Volume Sold Mar-15 77 201 95 83 47 53 48 104 897 Vs… Overall Apr-14 55 97 87 38 30 36 35 73 613 Mar-15 -27.3% -9.0% -24.2% -34.9% -27.7% 5.7% 16.7% -21.2% -16.4% Apr-14 1.8% 88.7% -17.2% 42.1% 13.3% 55.6% 60.0% 12.3% 22.3% Wellington Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ 12 month MA Source: REINZ Wellington Volumes 12 month MA Feb-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 Feb-13 May-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Wellington Median Price Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 Aug-10 May-10 $350,000 May-11 $375,000 Feb-11 $400,000 Nov-10 $425,000 Aug-10 1,000 900 800 700 600 500 400 300 200 100 0 May-10 $450,000 REINZ Nelson/Marlborough Region Analysis for April 2015 Commentary Price Nelson/Marlborough Region Trends The median price fell by $2,000 (-0.6%) compared to March with prices rising 5% in Nelson, but falling 9% in Motueka and 2% in Marlborough/Kaikoura. Compared to April 2014 the median price fell by $4,000 (-1.1%) with prices rising 12% in Motueka and 9% in Nelson, but falling elsewhere across the region. Sales volume compared to April 2014 rose 12%, with sales rising 50% in Richmond, 17% in Nelson and 11% in Marlborough/Kaikoura. Compared to March sales volumes fell by 20%, with sales falling 17% in Nelson, 19% in Marlborough/Kaikoura and 25% in Richmond. Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Median Price Mar-15 $383,000 $432,500 $372,000 $316,500 $358,000 Apr-15 $403,000 $432,500 $339,500 $309,500 $356,000 Vs… The number of days to sell eased by 11 days in April, from 34 days in March to 45 days in April. Compared to April 2014 the number of days to sell eased by six days. Over the past 10 years the median number of days to sell in April has averaged 42 days across the region. REINZ Chief Executive, Colleen Milne noted that "more investors have been coming into the market than first home buyers in recent weeks, although overall numbers are below this time last year. Open home attendances are also down, although this may be a seasonal factor due to Easter, the school holidays and ANZAC day in April." Apr-14 $370,000 $499,500 $302,000 $330,000 $360,000 Mar-15 5.2% 0.0% -8.7% -2.2% -0.6% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes Apr-15 76 24 16 89 226 Apr-14 8.9% -13.4% 12.4% -6.2% -1.1% Days to Sell Volume Sold Mar-15 92 32 28 110 284 Vs… Overall Apr-14 65 16 21 80 202 Mar-15 -17.4% -25.0% -42.9% -19.1% -20.4% Apr-14 16.9% 50.0% -23.8% 11.3% 11.9% 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 easing. 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Source: REINZ Nov-10 May-10 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Aug-13 Nov-13 Feb-13 May-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 Aug-10 0 May-10 $275,000 REINZ Canterbury/Westland Region Analysis for April 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 6% compared to April 2014, with sales rising 21% in West Coast, 16% in Christchurch and 7% in Rangiora. Compared to March sales volume fell 17%, rising 77% in West Coast and 7% in Rangiora, but falling 10% in North Canterbury and 16% in Christchurch. The median price increased by $30,000 (+7.6%) compared to April 2014 to reach a new record high. Prices rose 12% in Nth Canterbury, 9% in Sth Canterbury and 7% in Christchurch. Compared to March the median price rose $10,000 (+2.4%) with prices rising 14% in Mid-Canterbury, 8% in Sth Canterbury and 6% in Nth Canterbury. REINZ Regional Director, Jim Davis, commented that, "while the Canterbury region continues to see strong price growth the number of sales has certainly flattened off. The number of first home buyers and investors is up compared to this time last year, but remains steady compared to March. Open home attendances have been quieter, although this is possibly due to Easter, the school holidays and ANZAC day occurring in April." The number of days to sell eased by one day in April, from 30 days in March to 31 days in April. Compared to April 2014 the number of days to sell eased by three days. Over the past 10 years the average number of days to sell in April across the region has been 34 days. The median price trend remains upward, 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. Apr-15 $440,750 $416,500 $425,000 $325,300 $297,500 $268,750 $177,000 $425,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Median Price Mar-15 $440,000 $490,000 $402,500 $285,000 $285,000 $249,500 $195,000 $415,000 Vs… Price Apr-14 $412,500 $435,000 $380,500 $310,000 $289,000 $247,000 $180,000 $395,000 Mar-15 0.2% -15.0% 5.6% 14.1% 4.4% 7.7% -9.2% 2.4% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Volumes Apr-14 6.8% -4.3% 11.7% 4.9% 2.9% 8.8% -1.7% 7.6% Apr-15 560 33 27 43 41 24 23 835 Days to Sell Volume Sold Mar-15 664 31 30 59 73 46 13 1,006 Vs… Canterbury/Westland Region Sales Volumes Past 5 Years Past 5 Years 1,400 $420,000 1,200 $400,000 1,000 $380,000 Apr-14 485 31 26 39 58 39 19 785 Mar-15 -15.7% 6.5% -10.0% -27.1% -43.8% -47.8% 76.9% -17.0% Canterbury/Westland Region Median Price $440,000 Overall Apr-14 15.5% 6.5% 3.8% 10.3% -29.3% -38.5% 21.1% 6.4% 800 $360,000 Source: REINZ Canterbury/Westland Median Price 12 month MA Source: REINZ Canterbury/Westland Volumes REINZ Central Otago Lakes Region Analysis for April 2015 Feb-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Aug-13 Nov-13 Feb-13 May-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 May-10 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 0 Aug-10 200 $280,000 Nov-10 400 $300,000 May-10 $320,000 Aug-10 600 $340,000 REINZ Central Otago Lakes Region Analysis for April 2015 Commentary Price Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 41% compared to April 2014, with sales rising 59% in Queenstown and 30% in Central. Compared to March, sales rose 3%, with sales falling 4% in Queenstown but rising 9% in Central. The median price across the region rose $82,000 (+18.2%) compared to April 2014, with prices rising 25% in Central and 23% in Queenstown. Compared to March, the median price fell $23,000 (-4.1%) with prices falling 7% in Central but rising 5% in Queenstown. The number of days to sell improved by three days, from 45 days in March to 42 days in April. Compared to April 2014 the number of days to sell improved by five days. Over the past 10 years the average number of days to sell in April across the region has been 55 days. Days to Sell Volume Sold Apr-15 Mar-15 86 79 65 68 151 147 Median Price Mar-15 Apr-14 $433,000 $322,000 $640,000 $545,000 $555,000 $450,000 Apr-15 $403,000 $670,000 $532,000 Central Queenstown Central Otago Lakes Volumes Vs… Mar-15 -6.9% 4.7% -4.1% Central Queenstown Central Otago Lakes Apr-14 25.2% 22.9% 18.2% Vs… Overall Apr-14 66 41 107 Mar-15 8.9% -4.4% 2.7% Apr-14 30.3% 58.5% 41.1% REINZ Chief Executive, Colleen Milne commented that "the region continues to see an increase in the number of investors in the market, although there are fewer first home buyers around. There has been an increase in activity in the $800k- $900k bracket, although some of these properties have been on the market for some time." The median price trend is now improving, although the volume trend continues to fall. The days to sell trend is now also improving. 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Aug-10 Nov-10 May-10 $375,000 May-11 $425,000 Feb-11 $475,000 Aug-10 $525,000 Nov-10 180 160 140 120 100 80 60 40 20 0 May-10 $575,000 REINZ Otago Region Analysis for April 2015 Commentary Otago Region Trends The median price across Otago rose $18,500 (+7.7%) compared with April 2014, with prices rising 23% in South Otago, 16% in North Otago and 12% in Dunedin. Compared to March the median price rose by $832 (+0.3%) with prices rising 17% in South Otago, 11% in North Otago and 3% in Dunedin. Sale volumes across the region rose 32% compared to April 2014 with sales rising 36% in Dunedin, 18% in North Otago and 14% in South Otago. Compared to March sales volumes fell 5%, with sales rising 24% in North Otago and 14% in South Otago, but falling 11% in Dunedin. Median Price Mar-15 $280,000 $215,000 $135,000 $259,168 Apr-15 $288,500 $237,775 $158,500 $260,000 Dunedin North Otago South Otago Otago Price Vs… The number of days to sell in Otago eased by eight days in April, from 30 days in April to 38 days in April. Compared to April 2014 the number of days to sell eased by two days. Over the past 10 years the number of days to sell in April for the Otago region has been 38 days. Apr-14 $258,750 $205,000 $129,000 $241,500 Mar-15 3.0% 10.6% 17.4% 0.3% Dunedin North Otago South Otago Otago Volumes Apr-15 185 47 24 263 Apr-14 11.5% 16.0% 22.9% 7.7% Days to Sell Volume Sold Mar-15 208 38 21 276 Vs… Overall Apr-14 136 40 21 199 Mar-15 -11.1% 23.7% 14.3% -4.7% Apr-14 36.0% 17.5% 14.3% 32.2% REINZ Regional Director Liz Nidd commented that, “April has continued on a positive note with 185 sales compared to 136 in what was a very poor month last year. Activity in the market is brisk with many multiple offer situations occurring even on property that has been listed for a while. Listings are becoming a little tighter and we would anticipate that this will put even more pressure on buyers waiting to purchase. Buyers are needing to be agile in their activity as offers are coming in quickly on new listings.” The trend in the median price continues to ease, although the trends in days to sell and sales volume are now steady. The overall trend for the region is now steady. 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Otago Volumes Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Source: REINZ Nov-10 May-10 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Otago Median Price Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Aug-10 Nov-10 0 May-10 $175,000 REINZ Southland Region Analysis for April 2015 Commentary Southland Region Trends The median price across Southland rose $10,000 (+5.3%) compared to April 2014, with a 7% increase in Invercargill and a 1% fall in Gore. Compared to March the median price increased by $15,000 (+8.1%) with prices rising 22% in Gore and 14% in Invercargill. Sales volumes rose 25% compared to April 2014, with a 19% increase in Invercargill and a 4% fall in Gore. Compared to March sales volumes fell 25%, with a 46% fall in Gore and a 21% fall in Invercargill. Vs… The number of days to sell in Southland eased by one day compared to March, from 47 days in March to 48 days in April. Compared to April 2014 the number of days to sell eased by five days. Over the past 10 years the average number of days to sell in April for the Southland region has been 40 days. Volumes Days to Sell Volume Sold Apr-15 Mar-15 95 120 24 44 148 198 Median Price Mar-15 Apr-14 $186,000 $198,500 $141,500 $174,000 $185,000 $190,000 Apr-15 $212,000 $172,500 $200,000 Invercargill Gore Southland Price Mar-15 14.0% 21.9% 8.1% Invercargill Gore Southland Apr-14 6.8% -0.9% 5.3% Vs… Overall Apr-14 80 25 118 Mar-15 -20.8% -45.5% -25.3% Apr-14 18.8% -4.0% 25.4% REINZ Chief Executive, Colleen Milne commented that "the Southland market is becoming more optimistic with a solid lift in sales compared to 12 months ago, more first home buyers in the market and a tightening in the number of listings." 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 Feb-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Southland Volumes Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Source: REINZ Nov-10 May-10 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Southland Median Price Nov-12 Feb-12 May-12 Aug-11 Nov-11 Feb-11 May-11 Nov-10 Aug-10 0 May-10 $150,000 REAL ESTATE INSTITU TE OF REINZ NEW ZEALAND