Property prices increase

Waikato’s property prices continue to move up but volumes and days to sell are trending down during the winter season.

Real Estate Institute of New Zealand’s report for May was released recently.

It showed the median price in the Waikato region, up 20 per cent, was close to its recent record high.

There was a strong lift in sales volumes, regionally, after a weak April. Auckland buyers continued to be active in the Waikato region although increasing stock levels is making some sellers more negotiable.

In the breakdown for the Matamata-Piako district, the median price was $422,000, down on the $486,000 made in April but up on the $335,000 recorded in May 2016.

There were 36 properties sold in May, compared to 31 in April and 73 in May 2016.

Neighbouring districts also recorded increases in median prices for May, compared to the same month last year.

‘‘Neighbouring districts also recorded increases in median prices for May, compared to the same month last year.’’

In the Waipa district, the median price for a property in May was $555,000, up on the $550,00 in April and up on the $490,000 recorded in May 2016.

Waipa recorded the second highest median price in the Waikato, behind Thames-Coromandel ($585,000) but in front of Hamilton city ($526,000).

When it came to the number of properties sold in the Waipa district, 88 were recorded for May, up on the 63 for April but down on the 93 sold in May 2016.

In Hamilton city, the median price for a property was $526,000 for May, slightly down on the $532,500 for April but up on the $479,000 for May 2016.

There were 307 properties sold in the city for May, 241 in April and 345 in May 2016.

In the Waikato district the median price for a property was $486,000 in May, $410,000 in April and $371,000 in May 2016.

There were 847 properties sold in the Waikato district in May, 49 in April and 93 in May 2016.

The number of days to sell a property across the Waikato region eased by four, from 37 in April to 41 in May.

The number of days to sell eased by 11 compared to May 2016.

Over the past decade the average number of days to sell during May, for the Waikato region, was 52.

On a seasonally adjusted basis, sales for May increased by 3 per cent for the region, compared to April, indicating a stronger than expected increase for May.