REINZ Auckland Region Analysis for July 2015 REINZ Chief Executive, Colleen Milne, noted that, "First home buyers are focusing more on the northern and southern edges of the urban area in the search for affordable dwellings. Investors are very active ahead of the new LVR restrictions coming in October and the long standing inventory problems are only worsening." Graph Commentary The trend in the median price continues to rise, and the volume trend is now also improving. The days to sell trend is also continuing to improve. The overall trend for the region is now improving. Vs… Auckland Median Price 12 month MA Source: REINZ Auckland Volumes Feb-14 12 month MA May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Aug-10 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 0 Aug-12 500 $400,000 Nov-12 1,000 $450,000 Feb-12 1,500 $500,000 May-12 2,000 $550,000 Aug-11 2,500 $600,000 Nov-11 3,000 $650,000 May-11 3,500 Feb-11 Past 5 Years Nov-10 Auckland Region Sales Volumes $700,000 Jul-14 400 289 682 486 1,950 172 290 2,240 Jun-15 10.6% 7.2% 15.2% 14.4% 12.7% 8.7% 11.9% 12.5% Past 5 Years 4,000 Feb-11 Jul-14 31.5% 29.3% 12.0% 20.2% 21.4% 21.9% 15.9% 20.5% Auckland Region Median Price $750,000 Nov-10 Jun-15 -0.2% 1.6% -9.8% 1.5% -3.7% 5.0% 8.4% -2.6% Vs… North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region $800,000 Aug-10 Jul-14 $714,000 $550,000 $692,000 $570,000 $624,500 $590,000 $542,500 $610,000 Overall  Jul-14 38.8% 38.4% 43.5% 29.0% 38.8% 38.4% 56.2% 41.1% Feb-15 The number of days to sell was steady from June to July at 29 days , an improvement of three days compared to July 2014. Over the past 10 years the average number of days to sell during July for Auckland has been 34 days. North Shore City Waitakere City Auckland City Manukau City Metro Auckland Rodney District Outer Auckland Auckland Region Median Price Jun-15 $940,500 $700,000 $859,250 $675,000 $787,000 $685,000 $580,000 $755,000 Days to Sell  Volume Sold Jul-15 Jun-15 555 502 400 373 979 850 627 548 2,707 2,403 238 219 453 405 3,160 2,808 May-15 The region's median price fell $20,000 (-2.6%) compared to June, with prices falling 10% in Auckland City, and 4% in Metro Auckland, but rising elsewhere across the region. Compared to July 2014 the median price increased by $125,000 (+21%), rising32% in North Shore and 29% in Waitakere City. Jul-15 $939,000 $711,000 $775,000 $685,000 $758,000 $719,000 $628,515 $735,000 Volumes  Aug-14 Sales volume in the Auckland region rose 41% compared to July 2014, with strongest sales growth in Outer Auckland (+56%) and Auckland City (+44%). Compared to June 2015 sales rose by 13% across the region and by 11% on a seasonally adjusted basis. Sales volume rose 15% in Auckland, 14% in Manukau and 12% in Outer Auckland from June to July. Source: REINZ Price  Auckland Region Trends Nov-14 Commentary REINZ Northland Region Analysis for July 2015 Commentary Price  Northland Region Trends Sales volume in Northland rose by 71% compared to July 2014, with very strong volume increases in Otamatea County (+125%), Whangarei County (+80%) and Kerikeri (+70%). Compared to June, sales volumes rose 4% across the region, with a 55% increase in Kerikeri and 50% increase in Otamatea County, although Whangarei Country fell 22% and Whangarei City 3%. The median price across the region rose by $45,500 (+16%) compared to July 2014, with prices rising 22% in Otamatea County and 17% in Whangarei County. Compared to June, the median price rose $10,000 (+3%) with prices rising 3% in Whangarei County, but falling 4% in Otamatea County and 16% in Kerikeri. Jul-15 $280,000 $448,500 $445,000 $442,500 $325,000 Whangarei City Whangarei County Otamatea County Kerikeri Northland Median Price Jun-15 $279,500 $435,000 $462,500 $525,000 $315,000 Jul-14 $266,500 $382,500 $364,500 $408,250 $279,500 Jun-15 0.2% 3.1% -3.8% -15.7% 3.2% Jul-14 5.1% 17.3% 22.1% 8.4% 16.3% Vs… The number of days to sell eased by one day, from 51 in June to 52 in July. The number of days to sell improved by 24 days compared to July 2014. Over the past 10 years the average number of days to sell during July for Northland has been 61 days. REINZ Chief Executive, Colleen Milne, noted that, "Sales growth remains very strong in Northland, with buyers from Auckland 'flocking' to the region. Inventory data shows that the volume of listings has fallen by almost 50% in the past 12 months, which is putting pressure on prices across the market." Volumes  Whangarei City Whangarei County Otamatea County Kerikeri Northland Days to Sell  Volume Sold Jul-15 Jun-15 101 104 36 46 27 18 34 22 266 255 Vs… Overall  Jul-14 62 20 12 20 156 Jun-15 -2.9% -21.7% 50.0% 54.5% 4.3% Jul-14 62.9% 80.0% 125.0% 70.0% 70.5% Source: REINZ Northland Median Price Source: REINZ Northland Volumes 12 month MA May-15 Feb-15 Nov-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 Aug-10 Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Nov-13 Aug-13 May-13 0 Feb-13 $230,000 Aug-12 50 Nov-12 $255,000 Feb-12 100 May-12 $280,000 Aug-11 150 Nov-11 200 $305,000 May-11 250 $330,000 Feb-11 $355,000 Nov-10 300 Aug-10 $380,000 May-11 Past 5 Years Feb-11 Northland Region Sales Volumes Past 5 Years Nov-10 Northland Region Median Price Aug-14 Graph Commentary The trend in median price continues to ease, although the trend in sales volume is now rising. The days to sell trend is also now rising, with the overall trend for the region also now improving. REINZ Waikato/Bay of Plenty Region Analysis for July 2015 Commentary Waikato/Bay of Plenty Region Trends Sales volumes compared to July 2014 rose 80%, with sales in Waikato Country rising 104%, Hamilton 101% and Tauranga 79%. Compared to June, sales across the region rose 10%, with increases of 24% in Waikato Country, 21% in Tauranga and 15% in Rotorua. The median price across the region rose $27,250 (+8%) compared to July 2014 with rises of 21% in Tauranga, 16% in Mt Maunganui/Papamoa and 14% in Waikato Country. Compared to June the median price rose $10,500 (+3%), with rises of 20% in Gisborne, and 7% in Waikato Country and Mt Maunganui/Papamoa. The number of days to sell improved by five days in July, from 41 in June to 36 in July. The number of days to sell improved by 22 days compared to July 2014. Over the past 10 years the average number of days to sell during July for the region has been 52 days. Jul-15 $389,000 $275,500 $437,000 $530,000 $250,000 $346,000 $235,000 $235,000 $357,250 Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Graph Commentary The trend in median price continues to ease, although the trend in sales volume is now rising. The days to sell trend is also now rising, with the overall trend for the region also now improving. Volumes  Median Price Jun-15 $372,000 $256,500 $415,000 $495,000 $276,000 $338,250 $275,000 $196,000 $346,750 Jul-14 $350,000 $242,000 $360,000 $455,500 $250,000 $345,000 $220,000 $250,000 $330,000 Jun-15 4.6% 7.4% 5.3% 7.1% -9.4% 2.3% -14.5% 19.9% 3.0% Jul-14 11.1% 13.8% 21.4% 16.4% 0.0% 0.3% 6.8% -6.0% 8.3% Vs… REINZ Regional Director, Philip Searle, noted that, "Auckland based purchasers are buying right across the region, as first home buyers in Hamilton and investors in Tauranga and Rotorua. The region set a record high number of auctions in July, with 41 more auctions than in June and clearance rates over 80%. Inventory availability is also declining rapidly, with available inventory down 60% year on year." Price  Hamilton City Waikato Country Tauranga Mt Maunganui/Papamoa Rotorua Taupo Eastern BOP Country Gisborne Waikato/Bay of Plenty Days to Sell  Volume Sold Jul-15 Jun-15 404 392 348 280 216 178 125 112 120 104 66 74 63 61 38 48 1,560 1,414 Vs… Jul-14 201 171 121 82 72 43 40 33 869 Jun-15 3.1% 24.3% 21.3% 11.6% 15.4% -10.8% 3.3% -20.8% 10.3% Waikato/BOP Region Median Price Waikato/BOP Region Sales Volumes Past 5 Years Past 5 Years Jul-14 101.0% 103.5% 78.5% 52.4% 66.7% 53.5% 57.5% 15.2% 79.5% Source: REINZ 12 month MA Source: REINZ Waikato/BOP Volumes Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 Waikato/BOP Median Price May-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 Aug-10 $275,000 Aug-11 $300,000 May-11 $325,000 Feb-11 $350,000 Nov-10 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Aug-10 $375,000 Overall  REINZ Hawkes Bay Region Analysis for July 2015 Commentary Price  Hawkes Bay Region Trends Sales volumes in Hawkes Bay rose 60% compared to July 2014, with rises of 120% in Hawkes Bay Country, 84% in Napier and 66% in Hastings. Compared to June, sales volumes rose 37%, with sales rising 120% in Hawkes Bay Country, 61% in Napier and 32% in Hastings. The median price rose $24,750 (+9%) compared to July 2014, with rises of 29% in Dannevirke and 6.2% in Napier. Compared to June the median price rose $12,000 (+4%) with rises of 11% in Dannevirke and 4% in Napier. The median days to sell for Hawkes Bay improved by eight days compared to June, from 52 in June to 44 in July. The number of days to sell improved by six days compared to July 2014. Over the past 10 years the median number of days to sell for the Hawkes Bay region in July has been 51 days. REINZ Chief Executive, Colleen Milne, noted that, "Aucklanders are making their presence felt across the region, mainly as investors, although the number of first home buyers is also rising. The underlying trend in prices is starting to rise, with the sales volume trend also on the increase." Jul-15 $332,500 $253,000 $163,500 $155,000 $292,000 Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Median Price Jun-15 $319,000 $296,600 $222,500 $140,000 $280,000 Vs… Jul-14 $313,000 $263,000 $202,500 $120,000 $267,250 Jun-15 4.2% -14.7% -26.5% 10.7% 4.3% Napier City Hastings City Hawkes Bay Country Dannevirke Hawkes Bay Volumes  Jul-15 134 111 22 12 292 Jul-14 6.2% -3.8% -19.3% 29.2% 9.3% Days to Sell  Volume Sold Jun-15 83 84 10 21 213 Vs… Overall  Jul-14 73 67 10 16 182 Jun-15 61.4% 32.1% 120.0% -42.9% 37.1% Jul-14 83.6% 65.7% 120.0% -25.0% 60.4% Graph Commentary The median price trend continues to ease, although the sales volume trend is now rising. The days to sell trend is now improving, with the overall trend for the region also now improving. Hawkes Bay Region Median Price Hawkes Bay Region Sales Volumes Past 5 Years Past 5 Years $325,000 350 300 $300,000 250 200 $275,000 150 100 $250,000 50 Source: REINZ Hawkes Bay Median Price Source: REINZ Hawkes Bay Volumes 12 month MA May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 0 Aug-10 $225,000 REINZ Manawatu/Wanganui Region Analysis for July 2015 Commentary Price  Manawatu/Wanganui Region Trends Sales volumes rose 16% compared to July 2014, rising 81% in Feilding, 56% in Levin and 21% in Manawatu Country. Compared to June sales volumes fell 15%, with rises of 41% in Feilding and 16% in Manawatu Country, but a fall of 24% in Palmerston North and other falls across the rest of the region. The median price across the region rose $9,500 (+4%) compared to June 2014, with prices rising 8% in Palmerston North and 1% in Feilding and Wanganui. Compared to June the median price fell $1,750 (-1%), with prices rising 7% in Feilding and 5% in Palmerston North, but falling across the rest of the region. The number of days to sell eased by five days compared to June, from 50 days in June to 55 days in July. Compared to July 2014 the number of days to sell improved by four days. Over the past 10 years the median number of days to sell across the Manawatu/Wanganui region in July has averaged 52 days. REINZ Chief Executive, Colleen Milne, noted that, "Both first home buyers and investors are active in the market, but a shortage of inventory is hampering sales volumes. A number of properties are being sold under multiple offers, leaving many buyers unsatisfied." Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Jul-15 $304,000 $261,000 $176,000 $205,000 $149,500 $229,500 Median Price Jun-15 $290,500 $245,000 $188,250 $257,100 $162,500 $231,250 Jul-14 $282,000 $258,000 $185,000 $207,500 $147,500 $220,000 Jun-15 4.6% 6.5% -6.5% -20.3% -8.0% -0.8% Jul-14 7.8% 1.2% -4.9% -1.2% 1.4% 4.3% Vs… Palmerston North Feilding Levin Manawatu Country Wanganui Manawatu/Wanganui Volumes  Jul-15 104 38 39 29 50 282 Days to Sell  Volume Sold Jun-15 137 27 46 25 66 330 Vs… Overall  Jul-14 97 21 25 24 47 243 Jun-15 -24.1% 40.7% -15.2% 16.0% -24.2% -14.5% Jul-14 7.2% 81.0% 56.0% 20.8% 6.4% 16.0% Graph Commentary The median price trend has improved from falling to easing, with the volume trend 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 Manawatu/Wanganui Median Price 12 month MA Source: REINZ 12 month MA May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 Manawatu/Wanganui Volumes May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 0 Aug-10 $175,000 REINZ Taranaki Region Analysis for July 2015 New Plymouth Taranaki Country Bell Block Hawera Taranaki Median Price Jun-15 $350,000 $266,000 $372,500 $243,000 $303,250 Vs… The number of days to sell improved by 13 days compared to June, from 49 in June to 36 in July. Compared to July 2015 the number of days to sell improved by 12 days. Over the past 10 years the median number of days to sell across the region in July has averaged 48 days. REINZ Chief Executive, Colleen Milne, noted that "The Taranaki market is experiencing a typical winter pause, with activity steady rather than as frantic as in other regions such as Waikato/Bay of Plenty. While the volume of listings is low, the market for appraisals for the spring is quite active, pointing towards an uplift in activity from September." Graph Commentary The median price trend continues to ease, although the days to sell trend has now improved to steady. The volume trend is now improving with the overall trend now steady. Jul-14 13.5% -28.8% 17.1% 18.5% -5.0% Vs… Taranaki Median Price Source: REINZ Taranaki Volumes 12 month MA May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 0 Nov-12 $225,000 Feb-12 50 May-12 $250,000 Aug-11 100 Nov-11 $275,000 May-11 150 Nov-10 Past 5 Years $300,000 Jul-14 72 19 10 18 131 Jun-15 14.3% -10.0% 150.0% 26.1% 16.2% Taranaki Region Sales Volumes 200 Feb-11 72 27 15 29 172 Past 5 Years $325,000 Nov-10 Jul-15 Taranaki Region Median Price 250 Aug-10 Jun-15 7.9% -30.5% 12.1% -11.5% -2.9% New Plymouth Taranaki Country Bell Block Hawera Taranaki $350,000 Source: REINZ Jul-14 $332,500 $260,000 $356,500 $181,500 $310,000 Overall  Jul-14 0.0% 42.1% 50.0% 61.1% 31.3% May-15 The median price across the region fell by $8,750 (-3%) compared to June, with prices up 12% in Bell Block and 8% in New Plymouth, but falling across the rest of the region. Compared to July 2014 the median price fell by $15,500 (-5%) with prices rising 19% in Hawera, 17% in Bell Bock and 14% in New Plymouth, but falling 29% in Taranaki Country. Jul-15 $377,500 $185,000 $417,500 $215,000 $294,500 Days to Sell  Volume Sold Jun-15 63 30 6 23 148 Feb-15 Sales volume for the Taranaki region rose by 31% compared to July 2014, with rises of 50% in Bell Block, 61% in Hawera and 42% in Taranaki Country. Compared to June, sales volumes rose by 16% with rises of 150% in Bell Block, 26% in Hawera and 14% in New Plymouth. Volumes  Nov-14 Price  Taranaki Region Trends Aug-14 Commentary REINZ Wellington Region Analysis for July 2015 Commentary Price  Wellington Region Trends The median price for the Wellington region rose $15,750 (+4%) compared to July 2014, with rises of 20% in Hutt Valley, 15% in Upper Hutt and 14% in Northern Wellington. Compared to June the median price rose $5,750 (+2%), with prices rising 12% in Upper Hutt, 6% in Hutt Valley and 4% in Central Wellington. Compared to July 2014 sales volumes rose 12% across the region, with sales up 63% in Northern Wellington, 46% in Hutt Valley and 13% in Upper Hutt. Compared to June sales volumes were steady at 697 sales, with volumes increasing 27% in Central Wellington and 13% in Upper Hutt, but falling 31% in Western Wellington. The number of days to sell was steady at 44 days between June and July. Compared to July 2014 the number of days to sell improved by two days. Over the past 10 years the median number of days to sell in July has averaged 42 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." Graph Commentary The trend in the median price continues to ease, although the volume trend is now improving. The days to sell trend is now also easing with the overall trend for the Wellington region now steady. Jul-15 $374,000 $379,168 $488,500 $410,000 $516,000 $580,000 $495,000 $421,000 $395,750 Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Median Price Jun-15 $335,000 $356,750 $480,000 $395,000 $525,000 $572,000 $564,500 $425,000 $390,000 Vs… Jul-14 $324,250 $315,750 $427,000 $410,000 $560,000 $550,000 $497,500 $411,685 $380,000 Jun-15 11.6% 6.3% 1.8% 3.8% -1.7% 1.4% -12.3% -0.9% 1.5% Upper Hutt Hutt Valley Northern Wellington Central Wellington Eastern Wellington Western Wellington Southern Wellington Pukerua Bay / Tawa Wellington Volumes  Jul-15 79 146 70 75 33 31 30 79 697 Jul-14 15.3% 20.1% 14.4% 0.0% -7.9% 5.5% -0.5% 2.3% 4.1% Days to Sell  Volume Sold Jun-15 70 150 65 59 33 45 30 79 697 Vs… Jul-14 70 100 43 75 39 28 34 78 621 Jun-15 12.9% -2.7% 7.7% 27.1% 0.0% -31.1% 0.0% 0.0% 0.0% Wellington Region Median Price Wellington Region Sales Volumes Past 5 Years Past 5 Years Jul-14 12.9% 46.0% 62.8% 0.0% -15.4% 10.7% -11.8% 1.3% 12.2% Source: REINZ Wellington Median Price 12 month MA Source: REINZ Wellington Volumes Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 Aug-10 $350,000 Aug-11 $375,000 May-11 $400,000 Feb-11 $425,000 Nov-10 1,000 900 800 700 600 500 400 300 200 100 0 Aug-10 $450,000 Overall  REINZ Nelson/Marlborough Region Analysis for July 2015 Commentary Price  Nelson/Marlborough Region Trends The median price rose by $26,100 (+8%) compared to June, with prices rising 17% in Motueka, 14% in Marlborough/Kaikoura and 9% in Nelson. Compared to July 2014 the median price rose by $20,000 (+6%), with prices rising 11% in Richmond, 10% in Motueka and 9% in Nelson. Sales volume rose 26% compared to July 2014, with rises of 42% in Marlborough/Kaikoura, 35% in Nelson and 32% in Richmond. Compared to June sales volumes rose by 2%, with rises of 16% in Richmond and 9% in Marlborough/Kaikoura, but falls across the rest of the region. The number of days to sell improved by 11 days in July, from 47 in June to 36 in July. Compared to July 2014 the number of days to sell improved by 11 days. Over the past 10 years the median number of days to sell in July has averaged 41 days across the region. REINZ Chief Executive, Colleen Milne, noted that, "Investors are coming into the market from Auckland, Wellington and Christchurch -- some with a view to eventual occupancy, presenting a new facet for the market. However, the number of listings remains a problem, with buyers struggling to find suitable properties in some cases." Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Jul-15 $392,000 $413,000 $415,000 $335,000 $375,000 Median Price Jun-15 $360,000 $509,500 $356,000 $293,500 $348,900 Vs… Jul-14 $360,275 $373,000 $378,000 $318,000 $355,000 Jun-15 8.9% -18.9% 16.6% 14.1% 7.5% Nelson City Richmond Motueka Marlborough/Kaikoura Nelson/Marlborough Volumes  Jul-15 89 29 20 105 254 Jul-14 8.8% 10.7% 9.8% 5.3% 5.6% Days to Sell  Volume Sold Jun-15 91 25 22 96 248 Vs… Overall  Jul-14 66 22 19 74 201 Jun-15 -2.2% 16.0% -9.1% 9.4% 2.4% Jul-14 34.8% 31.8% 5.3% 41.9% 26.4% Graph Commentary The price trend for the region is now easing, with the sales volume trend now steady. The days to sell trend is now also steady, with the overall trend for the region improving from easing to steady. 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 12 month MA Source: REINZ 12 month MA May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 Nelson/Marlborough Volumes May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 Feb-15 May-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 Nelson/Marlborough Median Price May-13 Aug-12 Nov-12 Feb-12 May-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 0 Aug-10 $275,000 REINZ Canterbury/Westland Region Analysis for July 2015 Commentary Canterbury/Westland Region Trends Sales volume across the region rose 12% compared to June, with rises of 50% in Mid-Canterbury, 48% in South Canterbury and 42% in Rangiora. Compared to July 2014 sales volume rose 10%, with volumes rising 60% in North Canterbury, 28% in South Canterbury and 20% in Mid Canterbury. The median price rose by $15,000 (+4%) compared to June 2014, with prices rising 10% in Timaru, 6% in Christchurch and 4% in Rangiora, but falling across the rest of the region. Compared to June the median price fell $3,000 (-1%), with rises of 5% in Timaru, but falls of 39% in West Coast, 10% in South Canterbury and 3% in North Canterbury. REINZ Regional Director, Jim Davis, commented that, "the market appears to be reverting more towards its pre-quake pattern with winter months seeing a decrease in listings, pending a rise in new listings in the spring. New subdivisions are largely complete meaning that new supply from these new builds is falling away to more long run levels." The number of days to sell improved by one day in July, from 33 in June to 32 in July. Compared to July 2014 the number of days to sell eased by two days. Over the past 10 years the average number of days to sell in July across the region has been 35 days. Graph Commentary The median price trend is now easing, as is the sales volume trend. The days to sell trend continues to fall. The overall trend for the region is now easing. Jul-15 $430,000 $445,000 $389,000 $331,250 $328,000 $231,000 $150,000 $415,000 Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Price  Median Price Jun-15 $431,650 $445,000 $400,350 $336,250 $313,128 $255,000 $243,000 $418,000 Vs… Days to Sell  Volume Sold Jul-15 Jun-15 574 552 37 26 35 29 48 32 55 50 46 31 17 21 921 824 Jul-14 $407,250 $427,000 $402,500 $352,500 $297,500 $250,000 $230,000 $400,000 Jun-15 -0.4% 0.0% -2.8% -1.5% 4.7% -9.4% -38.3% -0.7% Christchurch Rangiora North Canterbury Mid-Canterbury Timaru South Canterbury West Coast Canterbury/Westland Volumes  Jul-14 5.6% 4.2% -3.4% -6.0% 10.3% -7.6% -34.8% 3.8% Vs… Canterbury/Westland Region Sales Volumes Past 5 Years Past 5 Years 1,400 $420,000 1,200 $400,000 1,000 $380,000 Jul-14 522 36 22 40 49 36 25 841 Jun-15 4.0% 42.3% 20.7% 50.0% 10.0% 48.4% -19.0% 11.8% Canterbury/Westland Region Median Price $440,000 Overall  Jul-14 10.0% 2.8% 59.1% 20.0% 12.2% 27.8% -32.0% 9.5% 800 $360,000 Source: REINZ Canterbury/Westland Median Price 12 month MA Source: REINZ Canterbury/Westland Volumes 12 month MA Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Aug-13 Nov-13 May-13 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Aug-10 Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 0 Nov-11 $280,000 May-11 200 Feb-11 $300,000 Nov-10 400 Aug-10 $320,000 Nov-10 600 $340,000 REINZ Central Otago Lakes Region Analysis for July 2015 Commentary Price  Central Otago Lakes Region Trends Sales volume for the Central Otago Lakes Region rose by 60% compared to July 2014, with sales rising 72% in Queenstown and 52% in Central. Compared to June, sale volumes rose 33%, with rises of 65% in Central, but only 8% in Queenstown. The median price across the region rose $50,000 (+11%) compared to July 2014, with rises of 20% in Central and 10% in Queenstown. Compared to June, the median price fell $12,500 (-2%), with prices rising 10% in Central but falling 4% in Queenstown. Jul-15 $405,000 $655,000 $500,000 Central Queenstown Central Otago Lakes Days to Sell  Volume Sold Jul-15 Jun-15 79 48 67 62 146 110 Median Price Jun-15 Jul-14 $369,000 $340,000 $678,500 $595,000 $512,500 $450,000 Vs… Jun-15 9.8% -3.5% -2.4% Central Queenstown Central Otago Lakes The number of days to sell improved by one day compared to June, from 50 in June to 49 in July. Compared to July 2014 the number of days to sell improved by 10 days. Over the past 10 years the average number of days to sell in July across the region has been 76 days. Volumes  Jul-14 19.1% 10.1% 11.1% Vs… Overall  Jul-14 52 39 91 Jun-15 64.6% 8.1% 32.7% Jul-14 51.9% 71.8% 60.4% REINZ Chief Executive, Colleen Milne, commented that, "New subdivisions in the region are attracting plenty of interest from first home buyers, due in part to the allure of low interest rates for mortgages. Offshore buyers are also more active, with the fall in the NZ dollar spurring interest from this sector of the market." Graph Commentary The median price trend continues to improve, but the volume trend has moved from steady to rising and the days to sell trend has moved from steady to improving. The overall trend for the region is now improving. 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 12 month MA May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 Central Otago Lakes Volumes May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Feb-15 May-15 Aug-14 Nov-14 Feb-14 May-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 Aug-10 $375,000 Aug-11 $425,000 May-11 $475,000 Feb-11 $525,000 Nov-10 180 160 140 120 100 80 60 40 20 0 Aug-10 $575,000 REINZ Otago Region Analysis for July 2015 Commentary Otago Region Trends The median price across Otago rose $23,000 (+9%) compared with July 2014, with prices rising 37% in South Otago and 6% in Dunedin. Compared to June the median price rose by $18,000 (+7%) with rises of 44% in South Otago and 5% in North Otago, and with steady prices in Dunedin. Sale volumes across the region rose 9% compared to July 2014, with rises of 73% in South Otago and 9% in Dunedin, but with a fall of 16% in North Otago. Compared to June sales volumes fell 14%, with falls of 37% in North Otago, 27% in South Otago and 5% in Dunedin. Jul-15 $285,000 $200,000 $178,000 $267,000 Dunedin North Otago South Otago Otago Price  Median Price Jun-15 $285,000 $190,000 $123,500 $249,000 Vs… The number of days to sell in Otago improved by four days in July, from 37 in June to 33 in July. Compared to July 2014 the number of days to sell improved by four. Over the past 10 years the number of days to sell in July for the Otago region has been 43 days. Jul-14 $269,500 $201,250 $130,000 $244,000 Jun-15 0.0% 5.3% 44.1% 7.2% Dunedin North Otago South Otago Otago Volumes  Jul-15 155 27 19 207 Jul-14 5.8% -0.6% 36.9% 9.4% Days to Sell  Volume Sold Jun-15 163 43 26 240 Vs… Overall  Jul-14 142 32 11 190 Jun-15 -4.9% -37.2% -26.9% -13.8% Jul-14 9.2% -15.6% 72.7% 8.9% REINZ Regional Director, Liz Nidd, commented that “While there has been a small increase in listing numbers in the past two weeks there is still a significant number of buyers waiting in the wings and all new listings with realistic vendor expectations are getting a positive response very quickly.” Graph Commentary The trend in the median price is now steady, with the trend in sales volume now improving, The trend in days to sell is also now improving, with the overall trend for the region moving from steady to improving. 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 May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 Feb-15 May-15 Aug-14 Nov-14 Feb-14 12 month MA May-14 Nov-13 Aug-13 May-13 Feb-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 0 Aug-10 $200,000 REINZ Southland Region Analysis for July 2015 Commentary Southland Region Trends The median price across Southland rose $25,750 (+15%) compared to July 2014, with a 4% increase in Gore and a 2% increase in Invercargill. Compared to June, the median price fell $7,250 (-4%) with falls of 2% in Invercargill and 15% in Gore. Sales volumes rose 28% compared to July 2014, with a 50% increase in Invercargill but a 25% fall in Gore. Compared to June sales volumes rose 18% with a 10% increase in Invercargill and a 13% increase in Gore. Jul-15 $200,000 $177,100 $197,750 Invercargill Gore Southland Price  Days to Sell  Volume Sold Jul-15 Jun-15 110 100 27 24 164 139 Median Price Jun-15 Jul-14 $204,000 $197,000 $208,500 $170,500 $205,000 $172,000 Vs… The number of days to sell in Southland improved by five compared to June, from 54 in June to 49 in July. Compared to July 2014 the number of days to sell improved by five. Over the past 10 years the number of days to sell in July for the Southland region has been 43 days. Volumes  Jun-15 -2.0% -15.1% -3.5% Invercargill Gore Southland Jul-14 1.5% 3.9% 15.0% Vs… Overall  Jul-14 73 36 128 Jun-15 10.0% 12.5% 18.0% Jul-14 50.7% -25.0% 28.1% REINZ Chief Executive, Colleen Milne, commented that, "The news that Tiwai Point will continue to operate beyond 2017 has been welcomed in Southland and is providing a boost to the local real estate market. First home buyers are more active in the market, although the market overall takes a pause during winter. " Graph Commentary The median price trend is now improving , while the sales trend continues to ease. The days to sell trend is now easing, with the overall trend for the region moving from easing to steady. 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 12 month MA Source: REINZ Southland Volumes 12 month MA May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 Feb-15 May-15 Aug-14 Nov-14 May-14 Feb-14 Nov-13 Aug-13 Feb-13 May-13 Aug-12 Nov-12 Feb-12 May-12 Aug-11 Nov-11 May-11 Feb-11 Nov-10 0 Aug-10 $150,000