Market Snapshot October 2021

Posted 20 Oct '21

by Megan Davies on
Article appears under: iSellProperty

While New Zealand was experiencing ups and downs with Covid levels, and new levels of anxiety and economic uncertainty, this was reflected in the property market prices and numbers of sales. Auctions continued remotely and agents found new and inventive ways to market properties under the new and changing protocols.

Overall, the housing price index rose by 15% over September 2020, but bear in mind that last year we were in recovery mode from the first lockdown. Various levels of lockdown over the country have influenced housing market activity. The number of houses sold in September decreased by 37% over the last year and this is the lowest number sold since 2011.

This month, the Rotorua housing sales fell from 132 in 2020 to just 74 ( a drop of almost 44%) while the median price rose 24% from $521,000 to $650,000. This sparked a reduction in time on the market and at this time, we have approximately 9 weeks of inventory which is three weeks less than at the same time last year.

Spring is in the air - and this always brings more stock to market, though with the way the market is going, any time at all looks like a great time to sell, but buying may be a bit of a coin toss. We are happy to talk this through with you.

At iSellProperty we are seasoned experts in evolving markets, and we are happy to chat about what it takes to get above the crowd in a sellers market. In this market, it isn't just about putting your home on the market for a fixed fee and leaving the market to decide... it's about crafting an above the market expectation in buyers and negotiation.

Our fees are low, but our experience, marketing and contacts are beyond expectation.

We don't just sell property, we offer you ... Our expertise, Your choice.

Related News

Getting hot results when selling in a cooling market

Getting hot results when selling in a cooling market

Read More