REINZ Auckland Region Analysis for May 2015 Commentary Price Auckland Region Trends Sales volume in the Auckland region rose by 23% compared to May 2014, with strong sales growth in Manukau (+33%) and Auckland (+26%). Compared to April sales rose by 14% across the region, including 32% in Manukau and 19% in Waitakere. Compared to May 2014 the median price increased by $124,000 (+19.8%), with prices increasing the most in North Shore, Waitakere and Auckland. The region's median price rose $29,000 (+4.0%) with prices rising 11.5% in Auckland and 8.4% in Waitakere. The number of days to sell improved by one day in May, from 30 days in April to 29 days in May. The number of days to sell improved by five days compared to May 2014. Over the past 10 years the average number of days to sell during May for Auckland has been 35 days. 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, although there are increasing indications that Auckland investors are active across the country, particularly in the Waikato, Bay of Plenty, Manawatu and Nelson. " The trend in the median price continues to improve, with the volume trend now steady. The days to sell trend is also now improving. The overall trend for the region is steady. May-15 $946,000 $687,000 $880,000 $695,000 $771,500 $710,000 $580,000 $749,000 North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Median Price Apr-15 $925,000 $633,500 $789,000 $689,000 $745,000 $691,500 $579,500 $720,000 May-14 $749,000 $547,500 $709,000 $580,500 $640,000 $620,000 $535,500 $625,000 Apr-15 2.3% 8.4% 11.5% 0.9% 3.6% 2.7% 0.1% 4.0% May-14 26.3% 25.5% 24.1% 19.7% 20.5% 14.5% 8.3% 19.8% Vs… North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Auckland Region Median Price Volumes May-15 553 410 947 698 2,749 221 402 3,151 Days to Sell Volume Sold Apr-15 507 344 880 527 2,375 204 384 2,759 May-14 487 384 754 524 2,249 193 322 2,571 Apr-15 9.1% 19.2% 7.6% 32.4% 15.7% 8.3% 4.7% 14.2% May-14 13.6% 6.8% 25.6% 33.2% 22.2% 14.5% 24.8% 22.6% Vs… Overall Auckland Region Sales Volumes Past 5 Years Past 5 Years $750,000 4,000 $700,000 3,500 $650,000 3,000 2,500 $600,000 2,000 $550,000 1,500 $500,000 Source: REINZ Auckland Median Price Source: REINZ Auckland Volumes 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Sep-13 Dec-13 Jun-13 Dec-12 Mar-13 Jun-12 Sep-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Sep-10 Jun-10 Dec-14 Mar-15 Jun-14 Sep-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 500 $400,000 Dec-10 1,000 $450,000 REINZ Northland Region Analysis for May 2015 Commentary Price Northland Region Trends Sales volume in Northland rose by 28% compared to May 2014, with volumes rising by 38% in Whangarei City and 32% in Otamatea County. Compared to April, sales volumes fell 8% across the region, falling 22% in Kerikeri and 1% in Whangarei City, although sales rose 19% in Otamatea County. The median price across the region rose by $7,500 (+2.3%) compared to May 2014, with prices rising 8% in Otamatea County and 7% in Whangarei County. Compared to April, the median price fell $14,250 (-4.1%) with prices falling 5% in Otamatea County and 1% in Whangarei County. May-15 $290,000 $430,000 $400,000 $420,000 $332,500 Whangarei City Whangarei County Otamatea County Kerikeri Northland Median Price Apr-15 $282,500 $434,750 $420,000 $409,500 $346,750 May-14 $290,000 $401,000 $369,000 $434,500 $325,000 Apr-15 2.7% -1.1% -4.8% 2.6% -4.1% May-14 0.0% 7.2% 8.4% -3.3% 2.3% Vs… The number of days to sell improved by six days in May, from 60 days in April to 54 days in May. The number of days to sell improved by seven days compared to May 2014. Over the past 10 years the average number of days to sell during May for Northland has been 61 days. REINZ Chief Executive, Colleen Milne noted that, "sales growth remains strong in Northland, with interest from investors rising, notably from Auckland. Listings have declined in line with the normal seasonal trend, although vendor expectations are also rising." Volumes Whangarei City Whangarei County Otamatea County Kerikeri Northland May-15 95 37 25 21 222 Days to Sell Volume Sold Apr-15 96 38 21 27 240 Vs… Overall May-14 69 32 19 18 173 Apr-15 -1.0% -2.6% 19.0% -22.2% -7.5% May-14 37.7% 15.6% 31.6% 16.7% 28.3% The trend in sales volumes is now easing, although the trend in sales volume is now rising. The days to sell trend is now steady, although the overall trend for the region is now steady. Northland Region Median Price Northland Region Sales Volumes Source: REINZ Northland Median Price Source: REINZ Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Northland Volumes Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Jun-10 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 0 Mar-13 $230,000 Jun-12 50 Sep-12 $255,000 Mar-12 100 Sep-11 $280,000 Dec-11 150 Jun-11 $305,000 Mar-11 200 Sep-10 $330,000 Dec-10 250 Jun-10 $355,000 Dec-10 Past 5 Years 300 Sep-10 Past 5 Years $380,000 REINZ Waikato/Bay of Plenty Region Analysis for May 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to May 2014 rose 35%, with Tauranga increasing by 58%, Waikato Country by 47% and Hamilton by 44%. Compared to April, sales across the region rose 13%, with sales increasing in Tauranga by 40%, Waikato Country by 22% and Mt Maunganui/Papamoa by 21%. The median price across the region rose $14,000 (+4.2%) compared to May 2014 with prices rising 17% in Tauranga, 7% in Waikato Country and 5% in Taupo. Compared to April the median price was steady at $350,000, although prices rose 15% in Taupo, 11% in Waikato Country and 7% in Tauranga. The number of days to sell eased by three days in May, from 42 days in April to 45 days in May. The number of days to sell improved by 11 days compared to May 2014. Over the past 10 years the average number of days to sell during May for the region has been 52 days. REINZ Regional Director, Philip Searle noted that "there are increasing numbers of first home buyers and investors active across the region with interest from Auckland noticeable in Hamilton, Tauranga and Rotorua. Listings have declined as is normal at this time of the year, although confidence across the region is rising." The volume trend remains improving, although the median price trend is still easing. The days to sell trend is now steady. The overall trend for the region remains steady. Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty May-15 $370,000 $290,000 $413,750 $470,000 $240,000 $380,300 $218,750 $230,000 $350,000 Volumes Median Price Apr-15 $375,000 $261,250 $386,000 $495,000 $269,000 $332,000 $258,000 $238,500 $350,000 May-14 $366,500 $271,000 $355,000 $461,000 $242,500 $364,000 $232,000 $230,500 $336,000 Apr-15 -1.3% 11.0% 7.2% -5.1% -10.8% 14.5% -15.2% -3.6% 0.0% May-14 1.0% 7.0% 16.5% 2.0% -1.0% 4.5% -5.7% -0.2% 4.2% 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 May-15 335 293 202 125 95 55 48 42 1,360 Days to Sell Volume Sold Apr-15 296 240 144 103 83 85 53 44 1,203 May-14 232 199 128 102 84 44 52 42 1,005 Apr-15 13.2% 22.1% 40.3% 21.4% 14.5% -35.3% -9.4% -4.5% 13.1% May-14 44.4% 47.2% 57.8% 22.5% 13.1% 25.0% -7.7% 0.0% 35.3% 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 Waikato/BOP Median Price Waikato/BOP Volumes 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Sep-13 Dec-13 Jun-13 Dec-12 Mar-13 Jun-12 Sep-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Sep-10 Source: REINZ Dec-10 Jun-10 Dec-14 Mar-15 Jun-14 Sep-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 $275,000 REINZ Hawkes Bay Region Analysis for May 2015 Commentary Price Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 24% compared to May 2014, with sales doubling in Dannevirke, rising 42% in Hawkes Bay Country and 28% in Napier. Compared to April, sales volumes rose 20%, with sales rising 89% in Hawkes Bay Country, 40% in Dannevirke and 21% in Napier. The median price rose $5,000 (+1.8%) compared to May 2014 with prices rising 146% in Hawkes Bay Country, 78% in Dannevirke and 17% in Hastings. Compared to April the median price fell $15,000 (-4.9%) with prices falling 14% in Napier, but rising 196% in Hawkes Bay Country and 42% in Dannevirke. Median Price Apr-15 $340,000 $307,500 $130,000 $119,000 $305,000 May-15 $292,500 $320,000 $385,000 $169,000 $290,000 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Vs… The median days to sell for Hawkes Bay eased by 16 days compared to April, from 47 days in April to 63 days in May. The number of days to sell eased by two days compared to May 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in May has been 53 days. REINZ Chief Executive, Colleen Milne noted that, "there are greater numbers of first home buyers and investors active in the market, with an increasing number of investors coming from other parts of the country. Listings remain tight across the region, with vendor expectations also on the increase." May-14 $331,500 $273,000 $156,500 $95,000 $285,000 Apr-15 -14.0% 4.1% 196.2% 42.0% -4.9% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes May-15 110 89 17 14 248 May-14 -11.8% 17.2% 146.0% 77.9% 1.8% Days to Sell Volume Sold Apr-15 91 86 9 10 206 May-14 86 83 12 7 200 Apr-15 20.9% 3.5% 88.9% 40.0% 20.4% May-14 27.9% 7.2% 41.7% 100.0% 24.0% Vs… Overall The median price trend is now easing, although the sales volume trend is now steady. The days to sell trend remains steady, and the overall trend for the regions is also now steady. 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 Hawkes Bay Median Price Source: REINZ Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Hawkes Bay Volumes Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Dec-10 Jun-10 Sep-10 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for May 2015 Commentary Price Manawatu/Wanganui Region Trends Sales volumes rose 18% compared to May 2014, with sales rising 41% in Wanganui, 32% in Levin, 29% in Feilding and 12% in Palmerston North. Compared to April sales volumes rose 11%, with sales rising 57% in Wanganui and 35% in Manawatu Country. The median price across the region rose $3,100 (+1.4%) compared to May 2014, with prices rising 21% in Wanganui, but falling across the rest of the region. Compared to April the median price fell $900 (-0.4%), with prices rising 5% in Palmerston North and Levin, but falling across the rest of the region. The number of days to sell improved by five days compared to April, from 53 days in April to 48 days in May. Compared to May 2014 the number of days to sell improved by 14 days. Over the past 10 years the median number of days to sell across the Manawatu/Wanganui region in May has averaged 53 days. REINZ Chief Executive, Colleen Milne noted that "there has been an emerging trend of investor enquiry from Auckland with more first home buyers active in the market. Listings remain tight, even accounting for the normal seasonal lull with a large volume of old stock still on the market." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui May-15 $281,000 $238,250 $184,500 $185,000 $145,000 $221,100 Median Price Apr-15 $268,500 $283,000 $176,000 $240,000 $147,500 $222,000 May-14 $299,000 $275,000 $190,000 $208,000 $120,000 $218,000 Apr-15 4.7% -15.8% 4.8% -22.9% -1.7% -0.4% May-14 -6.0% -13.4% -2.9% -11.1% 20.8% 1.4% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes May-15 109 36 37 31 69 310 Days to Sell Volume Sold Apr-15 114 37 36 23 44 279 May-14 97 28 28 25 49 262 Apr-15 -4.4% -2.7% 2.8% 34.8% 56.8% 11.1% May-14 12.4% 28.6% 32.1% 24.0% 40.8% 18.3% Vs… Overall The median price trend is now falling, although the volume trend remains steady. The days to sell trend is also now steady. 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 12 month MA Source: REINZ Manawatu/Wanganui Volumes 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Dec-10 Jun-10 Sep-10 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Jun-13 Sep-13 Dec-12 Manawatu/Wanganui Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 $175,000 REINZ Taranaki Region Analysis for May 2015 Commentary Price Taranaki Region Trends Sales volume for the Taranaki region rose by 48% compared to May 2014 with sales up 57% in New Plymouth, 50% in Bell Block and 48% in Harwera. Compared to April sales volumes rose by 17% with sales up 48% in Hawera, 16% in New Plymouth and steady in Bell Block. The median price across the region rose by $24,000 (+8.9%) compared to May 2014, with prices up 37% in Hawera, 20% in New Plymouth and 15% in Bell Block. Compared to April the median price fell by $3,500 (1.2%) with prices rising 12% in Hawera and 6% in New Plymouth, but falling across the rest of the region. Median Price Apr-15 $347,000 $206,500 $342,500 $260,000 $297,500 May-15 $368,750 $180,000 $344,250 $290,000 $294,000 New Plymouth Taranaki Country Bell Block Hawera Taranaki Vs… The number of days to sell improved by six days compared to April, from 51 days in April to 45 days in May. Compared to May 2014 the number of days to sell eased by one day. Over the past 10 years the median number of days to sell across the region in May has averaged 49 days. REINZ Chief Executive, Colleen Milne noted that "the number of first home buyers and investors is up on the same time last year, however, listings remain tight and vendor expectations are rising. There has also been an increase in higher value sales recently." May-14 $310,000 $299,500 $300,000 $212,500 $270,000 Apr-15 6.3% -12.8% 0.5% 11.5% -1.2% New Plymouth Taranaki Country Bell Block Hawera Taranaki Volumes May-15 96 24 12 31 203 May-14 19.0% -39.9% 14.8% 36.5% 8.9% Days to Sell Volume Sold Apr-15 83 28 12 21 174 May-14 61 24 8 21 137 Apr-15 15.7% -14.3% 0.0% 47.6% 16.7% May-14 57.4% 0.0% 50.0% 47.6% 48.2% Vs… Overall The median price trend continues to ease, with the days to sell trend also now easing. The volume trend is also easing with the overall trend for the region continuing to ease. Taranaki Region Median Price Taranaki Region Sales Volumes Source: REINZ Taranaki Median Price Source: REINZ Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Taranaki Volumes Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Jun-10 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 0 Sep-12 $225,000 Mar-12 50 Sep-11 $250,000 Dec-11 100 Jun-11 $275,000 Mar-11 150 Sep-10 $300,000 Dec-10 200 Jun-10 $325,000 Dec-10 Past 5 Years 250 Sep-10 Past 5 Years $350,000 REINZ Wellington Region Analysis for May 2015 Commentary Price Wellington Region Trends The median price for the Wellington region fell by $5,700 (-1.4%) compared to April, with prices rising in Central Wellington by 23% and 4% in Pukerua Bay/Tawa, although prices fell 5.% in Upper Hutt and in Hutt Valley. Compared to May 2014 the median price fell $6,950 (-1.7%) with prices rising in Central Wellington and Pukerua Bay/Tawa. Compared to May 2014 sales volumes rose 22% across the region, with sales up 79% in Pukerua Bay/Tawa, 20% in Central Wellington and 13% in Hutt Valley. Compared to April sales volumes rose 2%, with sales rising 18% in Eastern Wellington, 14% in Upper Hutt and 11% in Central Wellington, and 6% in Northern Wellington. The number of days to sell improved by one day compared to April, from 39 days in April to 38 days in May. Compared to May 2014 the number of days to sell improved by five days. Over the past 10 years the median number of days to sell in May has averaged 40 days across the region. REINZ Regional Director Euon Murrell noted that "there appears to be more first home buyers and investors in the market, with an increase in the number of open home attendees, although listings remain about the same." The trend in the median price continues to ease, although the volume trend is now improving. The days to sell trend continues to fall, with the overall trend for the Wellington region now steady. May-15 $330,850 $347,650 $480,000 $488,500 $550,000 $575,000 $550,000 $438,500 $405,550 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price Apr-15 $349,000 $365,000 $472,500 $397,500 $545,600 $571,000 $538,550 $423,375 $411,250 Vs… May-14 $335,000 $381,000 $551,000 $442,500 $588,000 $560,000 $540,000 $405,000 $412,500 Apr-15 -5.2% -4.8% 1.6% 22.9% 0.8% 0.7% 2.1% 3.6% -1.4% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes May-15 64 156 76 60 40 29 61 85 764 May-14 -1.2% -8.8% -12.9% 10.4% -6.5% 2.7% 1.9% 8.3% -1.7% Days to Sell Volume Sold Apr-15 56 183 72 54 34 56 56 82 750 May-14 57 138 69 50 35 39 34 85 629 Apr-15 14.3% -14.8% 5.6% 11.1% 17.6% -48.2% 8.9% 3.7% 1.9% May-14 12.3% 13.0% 10.1% 20.0% 14.3% -25.6% 79.4% 0.0% 21.5% Vs… Wellington Region Median Price Wellington Region Sales Volumes Past 5 Years Past 5 Years Source: REINZ Wellington Median Price Source: REINZ Wellington Volumes 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Sep-13 Dec-13 Jun-13 Dec-12 Mar-13 Jun-12 Sep-12 Dec-11 Mar-12 Sep-11 Dec-14 Mar-15 Jun-14 Sep-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-10 $350,000 Jun-11 $375,000 Mar-11 $400,000 Sep-10 $425,000 Dec-10 1,000 900 800 700 600 500 400 300 200 100 0 Jun-10 $450,000 Overall REINZ Nelson/Marlborough Region Analysis for May 2015 Commentary Price Nelson/Marlborough Region Trends The median price rose by $11,500 (+3.3%) compared to May 2014 with prices rising 8% in Nelson and 2.5% in Richmond. Compared to April the median price rose by $5,500 (+1.5%) with prices rising 5% in Motueka, but falling elsewhere across the region. Sales volume compared to April rose 7%, with sales rising 50% in Motueka, 29% in Richmond and flat in Nelson. Compared to May 2014 sales volumes rose by 6%, with rising 20% in Richmond and 18% in Marlborough/Kaikoura but falling across the rest of the region. Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Median Price Apr-15 $403,000 $432,500 $339,500 $309,500 $356,000 May-15 $386,250 $415,000 $356,250 $289,500 $361,500 Vs… The number of days to sell improved by one day in May, from 45 days in April to 44 days in May. Compared to May 2014 the number of days to sell improved by eight days. Over the past 10 years the median number of days to sell in May has averaged 45 days across the region. REINZ Chief Executive, Colleen Milne noted that "there has been strong demand for new subdivisions in Richmond, which is providing confidence to the market as well as an increase in first home buyers active in the market. Listings have declined in line with the seasonal trend." May-14 $358,500 $405,000 $350,000 $308,000 $350,000 Apr-15 -4.2% -4.0% 4.9% -6.5% 1.5% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes May-15 76 31 24 84 242 May-14 7.7% 2.5% 1.8% -6.0% 3.3% Days to Sell Volume Sold Apr-15 76 24 16 89 226 May-14 86 26 27 71 228 Apr-15 0.0% 29.2% 50.0% -5.6% 7.1% May-14 -11.6% 19.2% -11.1% 18.3% 6.1% 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 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 Source: REINZ Nelson/Marlborough Volumes 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Dec-10 Jun-10 Sep-10 Dec-14 Mar-15 Jun-14 Sep-14 Dec-13 Mar-14 Jun-13 Sep-13 Mar-13 Sep-12 Dec-12 Jun-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 $275,000 REINZ Canterbury/Westland Region Analysis for May 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 13% compared to April, with sales rising 92% in Sth Canterbury, 32% in Timaru and 24% in Rangiora. Compared to May 2014 sales volume rose 7%, with sales volumes rising 30% in Nth Canterbury, 21% in Sth Canterbury and 10% in Christchurch. The median price fell by $15,000 (-3.6%) compared to May, with prices rising 9% in Mid Canterbury and 6% in Timaru, but falling 8% in Rangiora. Compared to April 2014 the median price fell $25,000 (-5.9%) with prices falling 4% in Christchurch and 2% in Nth Canterbury, although prices increased by 22% in West Coast. REINZ Regional Director, Jim Davis, commented that, "there are more first home buyers in the market as more property becomes available, although the number of listings has declined as winter approaches. The market is balanced across the region with volumes steady and prices easing back slightly." The number of days to sell eased by one day in May, from 31 days in April to 32 days in May. Compared to May 2014 the number of days to sell improved by two days. Over the past 10 years the average number of days to sell in May across the region has been 36 days. The median price trend is now easing, with the sales volume trend also easing. The days to sell trend continues to fall. The overall trend for the region is now easing. May-15 $422,000 $436,000 $417,500 $325,000 $314,750 $270,500 $215,000 $400,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Median Price Apr-15 $440,750 $416,500 $425,000 $325,300 $297,500 $268,750 $177,000 $425,000 Vs… Volumes May-14 $435,500 $475,000 $412,500 $298,000 $297,263 $262,500 $220,000 $415,000 Apr-15 -4.3% 4.7% -1.8% -0.1% 5.8% 0.7% 21.5% -5.9% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Canterbury/Westland Region Median Price Price May-14 -3.1% -8.2% 1.2% 9.1% 5.9% 3.0% -2.3% -3.6% May-15 615 41 26 53 54 46 18 945 Days to Sell Volume Sold Apr-15 560 33 27 43 41 24 23 835 May-14 560 43 20 61 54 38 24 883 Apr-15 9.8% 24.2% -3.7% 23.3% 31.7% 91.7% -21.7% 13.2% May-14 9.8% -4.7% 30.0% -13.1% 0.0% 21.1% -25.0% 7.0% Vs… Overall Canterbury/Westland Region Sales Volumes Past 5 Years Past 5 Years $440,000 1,400 $420,000 1,200 $400,000 1,000 $380,000 800 $360,000 Source: REINZ 12 month MA Source: REINZ 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Mar-14 Sep-13 Dec-13 Jun-13 Dec-12 Canterbury/Westland Volumes Mar-13 Jun-12 Sep-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Sep-10 Jun-10 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Jun-13 Sep-13 Dec-12 Canterbury/Westland Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 0 Jun-11 $280,000 Mar-11 200 Sep-10 $300,000 Dec-10 400 Jun-10 $320,000 Dec-10 600 $340,000 REINZ Central Otago Lakes Region Analysis for May 2015 Commentary Price Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 21% compared to May 2014, with sales rising 25% in Queenstown and 18% in Central. Compared to April, sale volumes fell 13%, with sales falling 8% in Queenstown and by 16% in Central. The median price across the region rose $6,250 (+1.3%) compared to May 2014, with prices rising 27% in Central and 15% in Queenstown. Compared to April, the median price fell $26,750 (-5.0%) with prices rising 9% in Central and rising 3% in Queenstown. The number of days to sell fell by 15 days compared to April, from 42 days in April to 57 days in May. Compared to May 2014 the number of days to sell eased by six days. Over the past 10 years the average number of days to sell in May across the region has been 69 days. Days to Sell Volume Sold May-15 Apr-15 72 86 60 65 132 151 Median Price Apr-15 May-14 $403,000 $343,500 $670,000 $598,000 $532,000 $499,000 May-15 $437,500 $687,500 $505,250 Central Queenstown Central Otago Lakes Volumes Vs… Apr-15 8.6% 2.6% -5.0% Central Queenstown Central Otago Lakes May-14 27.4% 15.0% 1.3% Vs… Overall May-14 61 48 109 Apr-15 -16.3% -7.7% -12.6% May-14 18.0% 25.0% 21.1% 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 continues to improve, with the volume trend now steady. The days to sell trend is also now 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 12 month MA Source: REINZ Central Otago Lakes Volumes 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Jun-13 Sep-13 Dec-12 Central Otago Lakes Median Price Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 Jun-10 $375,000 Jun-11 $425,000 Mar-11 $475,000 Dec-10 $525,000 Jun-10 180 160 140 120 100 80 60 40 20 0 Sep-10 $575,000 REINZ Otago Region Analysis for May 2015 Commentary Otago Region Trends The median price across Otago rose $29,750 (+12.5%) compared with May 2014 to reach a new record high. Prices rose 6% in North Otago and 5% in Dunedin. Compared to April the median price rose by $7,500 (+2.9%) with prices falling in Dunedin, North Otago and South Otago but rising elsewhere in the region. Sale volumes across the region rose18% compared to May 2014 with sales rising 20% in Dunedin, 17% in North Otago and 17% in South Otago. Compared to April sales volumes rose 3%, with sales rising 17% in North Otago and 2% in Dunedin but falling 13% in South Otago. The number of days to sell in Otago improved by three days in May, from 38 days in April to 35 days in May. Compared to May 2014 the number of days to sell improved by five days. Over the past 10 years the number of days to sell in May for the Otago region has been 40 days. Median Price Apr-15 $288,500 $237,775 $158,500 $260,000 May-15 $284,163 $228,000 $115,000 $267,500 Dunedin North Otago South Otago Otago Price Vs… May-14 $270,000 $214,000 $113,750 $237,750 Apr-15 -1.5% -4.1% -27.4% 2.9% Dunedin North Otago South Otago Otago Volumes May-15 188 55 21 271 May-14 5.2% 6.5% 1.1% 12.5% Days to Sell Volume Sold Apr-15 185 47 24 263 May-14 157 47 18 230 Apr-15 1.6% 17.0% -12.5% 3.0% May-14 19.7% 17.0% 16.7% 17.8% Vs… Overall REINZ Regional Director Liz Nidd commented that, "there are more first home buyers and investors active in the market, although listings are tight, due to the usual winter lull. Price growth across the region has been strong recently indicating that buyers are more confident and vendors are increasing their price expectations." 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 $300,000 400 350 $275,000 300 250 $250,000 200 150 $225,000 100 50 Source: REINZ Otago Median Price Source: REINZ 12 month MA Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Otago Volumes Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Dec-10 Jun-10 Sep-10 Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 $200,000 REINZ Southland Region Analysis for May 2015 Commentary Southland Region Trends The median price across Southland rose $28,000 (+15.8%) compared to May 2014, with an 18% increase in Invercargill and a 12% fall in Gore. Compared to April the median price increased by $5,000 (+2.5%) with prices rising 4% in Gore but falling 2% in Invercargill. Sales volumes fell 3% compared to May 2014, with a 2% increase in Invercargill and a 19% fall in Gore. Compared to April sales volumes fell 5%, with a 13% fall in Gore and a 5% increase in Invercargill. Vs… The number of days to sell in Southland improved by one day compared to April, from 48 days in April to 47 days in May. Compared to May 2014 the number of days to sell was steady at 47 days. Over the past 10 years the number of days to sell in May for the Southland region has been 40 days. Volumes Days to Sell Volume Sold May-15 Apr-15 100 95 21 24 141 148 Median Price Apr-15 May-14 $212,000 $176,500 $172,500 $203,500 $200,000 $177,000 May-15 $208,000 $180,000 $205,000 Invercargill Gore Southland Price Apr-15 -1.9% 4.3% 2.5% Invercargill Gore Southland May-14 17.8% -11.5% 15.8% Vs… Overall May-14 98 26 145 Apr-15 5.3% -12.5% -4.7% May-14 2.0% -19.2% -2.8% REINZ Chief Executive, Colleen Milne commented that "the Southland market is best described as steady at present with an increase in first home buyers and vendor expectations creeping up. An increase in sales at the top end of the market is also helping to buoy confidence as the region heads into the winter months." 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 Southland Median Price Source: REINZ Mar-15 Sep-14 Dec-14 Jun-14 Dec-13 12 month MA Mar-14 Sep-13 Jun-13 Mar-13 Sep-12 Southland Volumes Dec-12 Jun-12 Dec-11 Mar-12 Sep-11 Jun-11 Mar-11 Dec-10 Jun-10 Sep-10 Dec-14 Mar-15 Jun-14 Sep-14 Dec-13 12 month MA Mar-14 Jun-13 Sep-13 Dec-12 Mar-13 Jun-12 Sep-12 Mar-12 Sep-11 Dec-11 Jun-11 Mar-11 Sep-10 Dec-10 0 Jun-10 $150,000 REAL ESTATE INSTITU TE OF REINZ NEW ZEALAND