REINZ Auckland Region Analysis for June 2015 REINZ Chief Executive, Colleen Milne noted that, "The Auckland region continues to experience low listing numbers and strong demand across the spectrum. Although some vendors are leaving Auckland there are as many new buyers emerging, leaving the overall supply/demand situation more or less static." The trend in the median price is now rising, while the volume trend remains steady. The days to sell trend is also continuing to improve. The overall trend for the region is now improving. Volume Sold May-15 553 410 947 698 2,749 221 402 3,151 Jun-14 387 296 796 489 2,038 158 291 2,329 May-15 -9.2% -9.0% -10.2% -21.5% -12.6% -0.9% 0.7% -10.9% Jun-14 29.7% 26.0% 6.8% 12.1% 17.9% 38.6% 39.2% 20.6% Vs… Auckland Median Price Source: REINZ Auckland Volumes 12 month MA 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 Jul-10 Jan-15 Apr-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 0 Oct-12 500 $400,000 Jul-12 1,000 $450,000 Apr-12 1,500 $500,000 Jan-12 2,000 $550,000 Oct-11 2,500 $600,000 Jul-11 3,000 $650,000 Apr-11 3,500 $700,000 Apr-11 Past 5 Years Oct-10 Auckland Region Sales Volumes Past 5 Years 4,000 Jan-11 Jun-14 25.9% 33.2% 31.0% 20.5% 28.0% 18.1% 14.9% 25.8% Jun-15 502 373 850 548 2,403 219 405 2,808 Auckland Region Median Price $750,000 Jul-10 May-15 -0.6% 1.9% -2.4% -2.9% 2.0% -3.5% 0.0% 0.8% Vs… North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region $800,000 Oct-10 Jun-14 $747,000 $525,500 $655,750 $560,000 $615,000 $580,000 $505,000 $600,000 Overall Apr-15 The number of days to sell was steady at 29 days compared to May, an improvement of five days compared to June 2014. Over the past 10 years the average number of days to sell during May for Auckland has been 35 days. North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Median Price May-15 $946,000 $687,000 $880,000 $695,000 $771,500 $710,000 $580,000 $749,000 Days to Sell Jan-15 Compared to June 2014 the median price increased by $155,000 (+26%), with prices increasing 33% in North Shore and 31% in Auckland City. The region recorded another record median price in June. The region's median price rose $6,000 (+1%) compared to May with prices rising 2% in Waitakere, but falling elsewhere across the region. Jun-15 $940,500 $700,000 $859,250 $675,000 $787,000 $685,000 $580,000 $755,000 Volumes Oct-14 Sales volume in the Auckland region rose by 21% compared to June 2014, with strong growth in Rodney (+39%) and North Shore (+30%). Compared to May sales fell by 11% across the region and by 4% on a seasonally adjusted basis. Sales fell 22% in Manukau, 10% in Auckland City and 9% in Waitakere and North Shore. Source: REINZ Price Auckland Region Trends Jul-14 Commentary REINZ Northland Region Analysis for June 2015 Commentary Price Northland Region Trends Sales volume in Northland rose by 61% compared to June 2014, with very strong volume increases in Whangarei County (+92%), Otamatea County (+80%) and Kerikeri (+83%). Compared to May, sales volumes rose 15% across the region, with a 24% rise in Whangarei County, 10% in Whangarei City and 5% in Kerikeri. The median price across the region rose by $20,000 (+7%) compared to June 2014, with prices rising 48% in Otamatea County and 43% in Kerikeri. Compared to May, the median price fell $17,500 (-5%) with prices falling 4% in Whangarei City, but rising 16% in Otamatea County and 25% in Kerikeri. Jun-15 $279,500 $435,000 $462,500 $525,000 $315,000 Whangarei City Whangarei County Otamatea County Kerikeri Northland Median Price May-15 $290,000 $430,000 $400,000 $420,000 $332,500 Jun-14 $289,500 $396,250 $313,500 $367,500 $295,000 May-15 -3.6% 1.2% 15.6% 25.0% -5.3% Jun-14 -3.5% 9.8% 47.5% 42.9% 6.8% Vs… The number of days to sell improved from 54 days in May to 51 days in June, and by 20 days compared to June 2014. Over the past 10 years the average number of days to sell during May for Northland has been 62 days. REINZ Chief Executive, Colleen Milne noted that, "Sales growth remains very strong in Northland, with interest rising from Auckland buyers; both first home buyers and investors. Listings have declined in line with the normal seasonal trend and the inventory situation has tightened noticeably compared to June last year." Volumes Whangarei City Whangarei County Otamatea County Kerikeri Northland Days to Sell Jun-15 104 46 18 22 255 Overall Volume Sold May-15 95 37 25 21 222 Vs… Jun-14 64 24 10 12 158 May-15 9.5% 24.3% -28.0% 4.8% 14.9% Jun-14 62.5% 91.7% 80.0% 83.3% 61.4% The trend in median price continues to ease, although the trend in sales volume is now rising. The days to sell trend is now improving, with the overall trend for the region also now improving. Northland Region Median Price Northland Region Sales Volumes Source: REINZ Northland Median Price Source: REINZ Northland Volumes Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jul-10 Apr-15 Jan-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Jan-13 0 Apr-13 $230,000 Oct-12 50 Jul-12 $255,000 Apr-12 100 Jan-12 $280,000 Oct-11 150 Jul-11 $305,000 Apr-11 200 Jan-11 $330,000 Jul-10 250 Oct-10 $355,000 Jan-11 Past 5 Years 300 Oct-10 Past 5 Years $380,000 REINZ Waikato/Bay of Plenty Region Analysis for June 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to June 2014 rose 74%, with sales in Taupo rising 124%, Rotorua 96% and Hamilton 85%. Compared to May, sales across the region rose 4%, with sales increasing in Taupo by 35%, by 27% in Eastern BOP Country and by 17% in Hamilton. The median price across the region rose $10,750 (+3%) compared to June 2014 with prices rising 20% in Rotorua, 18% in Mt Maunganui/Papamoa and 5% in Hamilton. Compared to May the median price fell $3,250 (-1%), although prices rose 26% in Eastern BOP Country and 15% in Rotorua. The number of days to sell improved by four days, from 45 days in May to 41 days in June. The number of days to sell improved by 13 days compared to June 2014. Over the past 10 years the average number of days to sell during June for the region has been 53 days. REINZ Regional Director, Philip Searle noted that "Buyers from Auckland are increasing in number across the region, with a rise in the number of first home buyers from Auckland. Sales growth has been very strong across the region, although prices remain more or less steady. As with Northland, there has been a noticeable tightening of inventory over the past 12 months." The volume trend remains improving, although the median price trend is still easing. The days to sell trend is now also now improving and the overall trend for the region is now improving. Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Jun-15 $372,000 $256,500 $415,000 $495,000 $276,000 $338,250 $275,000 $196,000 $346,750 Volumes Median Price May-15 $370,000 $290,000 $413,750 $470,000 $240,000 $380,300 $218,750 $230,000 $350,000 Jun-14 $354,000 $256,000 $405,000 $420,000 $230,000 $331,000 $297,000 $233,500 $336,000 May-15 0.5% -11.6% 0.3% 5.3% 15.0% -11.1% 25.7% -14.8% -0.9% Jun-14 5.1% 0.2% 2.5% 17.9% 20.0% 2.2% -7.4% -16.1% 3.2% 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 Jun-15 392 280 178 112 104 74 61 48 1,414 Days to Sell Overall Volume Sold May-15 335 293 202 125 95 55 48 42 1,360 Jun-14 212 153 119 77 53 33 39 41 814 May-15 17.0% -4.4% -11.9% -10.4% 9.5% 34.5% 27.1% 14.3% 4.0% Jun-14 84.9% 83.0% 49.6% 45.5% 96.2% 124.2% 56.4% 17.1% 73.7% Vs… 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 Source: REINZ Waikato/BOP Volumes 12 month MA Apr-15 Jan-15 Oct-14 Jul-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 Oct-10 Jul-10 Jan-15 Apr-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Jan-11 Apr-11 Jul-10 0 Oct-10 $275,000 REINZ Hawkes Bay Region Analysis for June 2015 Commentary Price Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 43% compared to June 2014, with sales rising 62% in Dannevirke, 51% in Napier and 31 in Hastings. Compared to May, sales volumes fell 14%, with sales rising 50% in Dannevirke, but falling 25% in Napier and 41% in Hawkes Bay Country. The median price rose $8,500 (3%) compared to June 2014 with prices rising 97% in Hawkes Bay Country, 17% in Dannevirke and 10% in Hastings. Compared to May the median price fell $10,000 (-3%) with prices falling 42% in Hawkes Bay Country and 17% in Dannevirke, but rising 9% in Napier. Median Price May-15 $292,500 $320,000 $385,000 $169,000 $290,000 Jun-15 $319,000 $296,600 $222,500 $140,000 $280,000 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Vs… The median days to sell for Hawkes Bay improved by 11 days compared to May, from 63 days in May to 52 days in June. The number of days to sell improved by seven days compared to June 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in June has been 54 days. REINZ Chief Executive, Colleen Milne noted that, "The numbers of first home buyers continue to increase across the region, with investors taking to the sidelines. The number of available listings is falling, as it inventory, with an increase in multiple offers reflecting rising demand." Jun-14 $325,000 $269,750 $113,000 $119,000 $271,500 May-15 9.1% -7.3% -42.2% -17.2% -3.4% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes Jun-15 83 84 10 21 213 Jun-14 -1.8% 10.0% 96.9% 17.6% 3.1% Days to Sell Overall Volume Sold May-15 110 89 17 14 248 Jun-14 55 64 10 13 149 May-15 -24.5% -5.6% -41.2% 50.0% -14.1% Jun-14 50.9% 31.3% 0.0% 61.5% 43.0% Vs… The median price trend continues to ease, although the sales volume trend is now steady. The days to sell trend is now improving, with the overall trend for the region remaining 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 Hawkes Bay Volumes Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jan-11 Oct-10 Jul-10 Apr-15 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 Jul-10 0 Oct-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for June 2015 Commentary Price Manawatu/Wanganui Region Trends Sales volumes rose 52% compared to June 2014, rising 142% in Levin, 76% in Palmerston North and 56% in Manawatu Country. Compared to May sales volumes rose 7%, with sales rising 26% in Palmerston North and 24% in Levin, although sales volumes fell across the rest of the region. The median price across the region rose $10,150 (+5%) compared to May, with prices rising 12% in Wanganui and 3% in Palmerston North. Compared to June 2014 the median price rose $250 (+-0.1%), with prices rising 8% in Levin and Wanganui, and 7% in Palmerston North, but falling across the rest of the region. The number of days to sell eased by two days compared to May, from 48 days to 50 days in June. Compared to June 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 June has averaged 52 days. REINZ Chief Executive, Colleen Milne noted that "First home buyers are active in the market below $300,000 with new properties to the market below $350,000 selling quickly. Listings remain tight, particularly in lower price brackets." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Jun-15 $290,500 $245,000 $188,250 $203,000 $162,500 $231,250 Median Price May-15 $281,000 $238,250 $184,500 $243,000 $145,000 $221,100 Jun-14 $270,500 $275,000 $175,000 $207,500 $151,000 $231,000 May-15 3.4% 2.8% 2.0% -16.5% 12.1% 4.6% Jun-14 7.4% -10.9% 7.6% -2.2% 7.6% 0.1% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes Jun-15 137 27 46 25 66 330 Days to Sell Overall Volume Sold May-15 109 36 37 31 69 310 Jun-14 78 35 19 16 48 217 May-15 25.7% -25.0% 24.3% -19.4% -4.3% 6.5% Jun-14 75.6% -22.9% 142.1% 56.3% 37.5% 52.1% Vs… The median price trend is now falling, although the volume trend is now rising. The days to sell trend is also now rising. The overall trend for the region is now steady. 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 Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jan-11 Oct-10 Jul-10 Apr-15 Jan-15 Jul-14 Oct-14 Jan-14 Apr-14 Jul-13 Oct-13 Jan-13 Manawatu/Wanganui Median Price Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 0 Oct-10 $175,000 REINZ Taranaki Region Analysis for June 2015 Commentary Price Taranaki Region Trends Sales volume for the Taranaki region rose by 14% compared to June 2014 with sales up 50% in Taranaki Country and 44% in Harwera. Compared to May sales volumes fell by 27% with sales up 25% in Taranaki Country, but falling 50% in Bell Block, 34% in New Plymouth and 26% in Hawera. The median price across the region rose by $9,250 (+3%) compared to May, with prices up 48% in Taranaki Country and 8% in Bell Block, but falling across the rest of the region. Compared to June 2014 the median price fell by $3,000 (-1%) with prices rising 33% in Hawera and 28% in Taranaki Country. Median Price May-15 $368,750 $180,000 $344,250 $290,000 $294,000 Jun-15 $350,000 $266,000 $372,500 $243,000 $303,250 New Plymouth Taranaki Country Bell Block Hawera Taranaki Vs… The number of days to sell eased by four days compared to May, from 45 days to 49 days in June. Compared to June 2014 the number of days to sell improved by three days. Over the past 10 years the median number of days to sell across the region in June has averaged 52 days. REINZ Chief Executive, Colleen Milne noted that "The number of first home buyers has declined, although this is due to a lack of listings in the target price brackets rather than a lack of desire on the part of these buyers to purchase properties. Investor activity remains about the same across the region." Jun-14 $346,000 $208,250 $363,500 $182,500 $306,250 May-15 -5.1% 47.8% 8.2% -16.2% 3.1% New Plymouth Taranaki Country Bell Block Hawera Taranaki Volumes Jun-15 63 30 6 23 148 Jun-14 1.2% 27.7% 2.5% 33.2% -1.0% Days to Sell Overall Volume Sold May-15 96 24 12 31 203 Jun-14 62 20 12 16 130 May-15 -34.4% 25.0% -50.0% -25.8% -27.1% Jun-14 1.6% 50.0% -50.0% 43.8% 13.8% Vs… The median price trend continues to ease, with the days to sell trend also now easing. The volume trend is now steady 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 Taranaki Volumes Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jul-10 Apr-15 Jan-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Jan-13 Apr-13 Oct-12 0 Jul-12 $225,000 Apr-12 50 Jan-12 $250,000 Oct-11 100 Jul-11 $275,000 Apr-11 150 Jan-11 $300,000 Jul-10 200 Oct-10 $325,000 Jan-11 Past 5 Years 250 Oct-10 Past 5 Years $350,000 REINZ Wellington Region Analysis for June 2015 Commentary Price Wellington Region Trends The median price for the Wellington region rose $5,000 (+1%) compared to June 2014, with prices rising 21% Sthn Wellington, by 18% in Pukerua Bay/Tawa and by 10% in Upper Hutt. Compared to May the median price fell $15,550 (-4%) with prices rising falling 19% in Central Wellington and 5% in Eastern Wellington. Compared to June 2014 sales volumes rose 24% across the region, with sales up 75% in Upper Hutt, 52% in Hutt Valley and 41% in Western Wellington. Compared to May sales volumes fell 9%, with sales rising 55% in Western Wellington, but falling 51% in Sthn Wellington, 18% in Eastern Wellington and 15% in Nthn Wellington. The number of days to sell eased by six days compared to May, from 38 days in May to 44 days in June. Compared to June 2014 the number of days to sell improved by three days. Over the past 10 years the median number of days to sell in June has averaged 42 days across the region. REINZ Regional Director Euon Murrell noted that "With the winter months now upon us we are starting to see the usual decline in sales in the region. The seasonal effect with regard to listings coming to the market seems to be more severe than in previous years. 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. Jun-15 $335,000 $356,750 $480,000 $395,000 $525,000 $572,000 $564,500 $425,000 $390,000 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price May-15 $330,850 $347,650 $480,000 $488,500 $550,000 $575,000 $550,000 $438,500 $405,550 Vs… Jun-14 $305,000 $360,000 $459,000 $452,000 $510,000 $575,000 $464,250 $361,000 $385,000 May-15 1.3% 2.6% 0.0% -19.1% -4.5% -0.5% 2.6% -3.1% -3.8% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes Jun-15 70 150 65 59 33 45 30 79 697 Jun-14 9.8% -0.9% 4.6% -12.6% 2.9% -0.5% 21.6% 17.7% 1.3% Days to Sell Overall Volume Sold May-15 64 156 76 60 40 29 61 85 764 Jun-14 40 99 64 54 41 32 26 63 563 May-15 9.4% -3.8% -14.5% -1.7% -17.5% 55.2% -50.8% -7.1% -8.8% Jun-14 75.0% 51.5% 1.6% 9.3% -19.5% 40.6% 15.4% 25.4% 23.8% Vs… Wellington Region Median Price Wellington Region Sales Volumes Past 5 Years Past 5 Years Wellington Median Price Source: REINZ Wellington Volumes 12 month MA Apr-15 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Jul-12 Oct-12 Jan-12 Apr-12 Jul-11 Jan-15 Apr-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Jan-11 Apr-11 Jul-10 Source: REINZ Oct-10 $350,000 Oct-11 $375,000 Jan-11 $400,000 Apr-11 $425,000 Oct-10 1,000 900 800 700 600 500 400 300 200 100 0 Jul-10 $450,000 REINZ Nelson/Marlborough Region Analysis for June 2015 Commentary Price Nelson/Marlborough Region Trends The median price fell by $12,600 (-4%) compared to May with prices rising 22% in Richmond but falling 7% in Nelson and across the rest of the region. Compared to June 2014 the median price fell by $13,100 (-4%) with prices rising 17% in Richmond, but falling 5% in Motueka and 4% in Nelson. Sales volume compared to June 2014 rose 15%, with sales rising 30% in Marlborough/Kaikoura and 21% in Nelson. Compared to May sales volumes rose by 3%, rising 20% in Nelson and by 14% in Marlborough/Kaikoura but falling across the rest of the region. Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Median Price May-15 $386,250 $415,000 $356,250 $289,500 $361,500 Jun-15 $360,000 $509,500 $356,000 $293,500 $348,900 Vs… The number of days to sell eased by three days in June, from 44 days in May to 47 days in June. Compared to June 2014 the number of days to sell was steady at 47 days. Over the past 10 years the median number of days to sell in June has averaged 45 days across the region. REINZ Chief Executive, Colleen Milne noted that "Demand for new subdivisions in Richmond remains strong, with first home buyers starting to compete with out of town buyers (mostly Auckland) in a market that is experiencing a lack of listings, particularly in Nelson." Jun-14 $375,000 $435,000 $375,000 $300,000 $362,000 May-15 -6.8% 22.8% -0.1% 1.4% -3.5% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes Jun-15 91 25 22 96 248 Jun-14 -4.0% 17.1% -5.1% -2.2% -3.6% Days to Sell Overall Volume Sold May-15 76 31 24 84 242 Jun-14 75 25 21 74 215 May-15 19.7% -19.4% -8.3% 14.3% 2.5% Jun-14 21.3% 0.0% 4.8% 29.7% 15.3% Vs… 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 Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jan-11 Oct-10 Jul-10 Jan-15 Apr-15 Jul-14 Oct-14 Jan-14 Apr-14 Oct-13 Jul-13 Apr-13 Jan-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Jan-11 Apr-11 Jul-10 0 Oct-10 $275,000 REINZ Canterbury/Westland Region Analysis for June 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 7% compared to June 2014, with sales rising 40% on the West Coast, 14% in Christchurch and Timaru and 12% in Nth Canterbury. Compared to May sales volume fell 13%, with sales volumes rising 17% on the West Coast but falling 40% in Mid-Canterbury, 37% in Rangiora and 33% in Sth Canterbury. The median price rose by $18,000 (+5%) compared to May, with prices rising 13% on the West Coast, but falling 6% in Sth Canterbury and 4% in Nth Canterbury. Compared to June 2014 the median price rose $8,100 (+2%) with prices rising 35% on the West Coast, 27% in Mid-Canterbury and 23% in Sth Canterbury. REINZ Regional Director, Jim Davis, commented that, "First home buyers continue to be active in the market as more property becomes available, although the number of listings have declined. The market is more or less balanced across the region with volumes steady and prices holding steady." The number of days to sell eased by one day in June, from 32 days in May to 33 days in June. Compared to June 2014 the number of days to sell was steady at 33 days. Over the past 10 years the average number of days to sell in June across the region has been 35 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. Jun-15 $431,650 $445,000 $400,350 $336,250 $313,128 $255,000 $243,000 $418,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Median Price May-15 $422,000 $436,000 $417,500 $325,000 $314,750 $270,500 $215,000 $400,000 Vs… Volumes Jun-14 $430,000 $400,000 $358,000 $265,000 $284,000 $207,500 $180,000 $409,900 May-15 2.3% 2.1% -4.1% 3.5% -0.5% -5.7% 13.0% 4.5% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Canterbury/Westland Region Median Price Price Jun-14 0.4% 11.3% 11.8% 26.9% 10.3% 22.9% 35.0% 2.0% Jun-15 552 26 29 32 50 31 21 824 Days to Sell Overall Volume Sold May-15 615 41 26 53 54 46 18 945 Jun-14 483 32 26 47 44 30 15 767 May-15 -10.2% -36.6% 11.5% -39.6% -7.4% -32.6% 16.7% -12.8% Jun-14 14.3% -18.8% 11.5% -31.9% 13.6% 3.3% 40.0% 7.4% Vs… 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 Canterbury/Westland Volumes 12 month MA Apr-15 Jan-15 Oct-14 Jul-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 Apr-15 Jan-15 Jul-14 Oct-14 Jan-14 Apr-14 Jul-13 Oct-13 Jan-13 Canterbury/Westland Median Price Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 0 Apr-11 200 $280,000 Jan-11 $300,000 Jul-10 400 Oct-10 $320,000 Oct-10 600 $340,000 REINZ Central Otago Lakes Region Analysis for June 2015 Commentary Price Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 24% compared to June 2014, with sales rising 48% in Queenstown, but only 2% in Central. Compared to May, sale volumes fell 17%, with sales rising 3% in Queenstown but falling 33% in Central. The median price across the region rose $49,500 (+11%) compared to June 2014, with prices falling 9% in Central but rising 5% in Queenstown. Compared to May, the median price rose $7,250 (+1%) with prices falling 16% in Central and 1% in Queenstown. The number of days to sell improved by seven days compared to May, from 57 days in May to 50 days in June. Compared to June 2014 the number of days to sell improved by three days. Over the past 10 years the average number of days to sell in June across the region has been 61 days. Median Price May-15 Jun-14 $437,500 $405,000 $687,500 $645,000 $505,250 $463,000 Jun-15 $369,000 $678,500 $512,500 Central Queenstown Central Otago Lakes Volumes Vs… May-15 -15.7% -1.3% 1.4% Central Queenstown Central Otago Lakes Jun-15 48 62 110 Jun-14 -8.9% 5.2% 10.7% Days to Sell Overall Volume Sold May-15 72 60 132 Jun-14 47 42 89 Vs… May-15 -33.3% 3.3% -16.7% Jun-14 2.1% 47.6% 23.6% REINZ Chief Executive, Colleen Milne commented that "Activity in and around Queenstown and Wanaka remains strong, with first home buyer interest seen at Jacks Point and Bridesdale and investors focused on high density land and hotel sites. Central is subdued in comparison, although listings across the region remain in short supply." 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 remains steady. Central Otago Lakes Region Median Price Central Otago Lakes Region Sales Volumes Past 5 Years Past 5 Years 12 month MA Source: REINZ Central Otago Lakes Volumes 12 month MA Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Apr-15 Jan-15 Jul-14 Oct-14 Jan-14 Apr-14 Jul-13 Oct-13 Jan-13 Central Otago Lakes Median Price Apr-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Jul-10 Source: REINZ Oct-10 $375,000 Oct-11 $425,000 Apr-11 $475,000 Jan-11 $525,000 Oct-10 180 160 140 120 100 80 60 40 20 0 Jul-10 $575,000 REINZ Otago Region Analysis for June 2015 Commentary Otago Region Trends The median price across Otago rose $14,000 (+6%) compared with June 2014 with prices rising 15% in Dunedin, but falling across the rest of the region. Compared to May the median price fell by $18,500 (-7%) with prices falling 17% in North Otago, but rising 7% in South Otago. Sale volumes across the region rose 29% compared to June 2014 with sales rising 73% in South Otago, 24% in Dunedin and 16% in North Otago. Compared to May sales volumes fell 11%, with sales rising 24% in South Otago, but falling 22% in North Otago and 13% in Dunedin. The number of days to sell in Otago eased by two days in June, from 35 days in May to 37 days in June. Compared to June 2014 the number of days to sell improved by seven days. Over the past 10 years the number of days to sell in June for the Otago region has been 42 days. Median Price May-15 $284,163 $228,000 $115,000 $267,500 Jun-15 $285,000 $190,000 $123,500 $249,000 Dunedin North Otago South Otago Otago Price Vs… Jun-14 $249,000 $215,000 $130,000 $235,000 May-15 0.3% -16.7% 7.4% -6.9% Dunedin North Otago South Otago Otago Volumes Jun-15 163 43 26 240 Jun-14 14.5% -11.6% -5.0% 6.0% Days to Sell Overall Volume Sold May-15 188 55 21 271 Jun-14 131 37 15 186 May-15 -13.3% -21.8% 23.8% -11.4% Jun-14 24.4% 16.2% 73.3% 29.0% Vs… REINZ Regional Director Liz Nidd commented that, "Buyers of all types continue to be active in the market, with the biggest constraint being insufficient new listings to meet buyer preferences. As a result, vendor expectations are increasing." The trend in the median price continues to ease, although the trends in days to sell remains steady. The sales volume trend is now improving. 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 Otago Volumes 12 month MA Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jan-11 Oct-10 Jul-10 Apr-15 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 Jul-10 0 Oct-10 $200,000 REINZ Southland Region Analysis for June 2015 Commentary Southland Region Trends The median price across Southland rose $40,000 (+24%) compared to June 2014, with a 75% increase in Gore and a 19% increase in Invercargill. Compared to May the median price was steady at $205,000 although prices rose 16% in Gore but fell 2% in Invercargill. Sales volumes rose 5% compared to June 2014, with a 9% increase in Invercargill and a 4% fall in Gore. Compared to May sales volumes fell 1%, with a 14% increase in Gore and steady sales in Invercargill. The number of days to sell in Southland eased by seven days compared to May, from 47 days in May to 54 days in June. Compared to June 2014 the number of days to sell eased by 10 days. Over the past 10 years the number of days to sell in June for the Southland region has been 41 days. Volumes Median Price May-15 Jun-14 $208,000 $171,250 $180,000 $119,000 $205,000 $165,000 Jun-15 $204,000 $208,500 $205,000 Invercargill Gore Southland Price Vs… May-15 -1.9% 15.8% 0.0% Invercargill Gore Southland Jun-15 100 24 139 Jun-14 19.1% 75.2% 24.2% Days to Sell Overall Volume Sold May-15 100 21 141 Jun-14 92 25 133 May-15 0.0% 14.3% -1.4% Jun-14 8.7% -4.0% 4.5% Vs… REINZ Chief Executive, Colleen Milne commented that "The Southland market is seeing a small rise in the number of first home buyers and generally steady investor activity. Listings have declined over the winter months, putting some upward pressure on vendor expectations. The overall market tone is positive. " The median price trend is now steady, while the sales trend continues to ease. The days to sell trend is now falling, with the overall trend for the region continuing to ease. 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 Southland Volumes Apr-15 Jan-15 Oct-14 Jul-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Jan-12 Apr-12 Jul-11 Oct-11 Apr-11 Jan-11 Oct-10 Jul-10 Jan-15 Apr-15 Jul-14 Oct-14 Jan-14 12 month MA Apr-14 Jul-13 Oct-13 Apr-13 Jan-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Jan-11 Apr-11 Jul-10 0 Oct-10 $150,000 REAL ESTATE INSTITU TE OF REINZ NEW ZEALAND