Fewer ‘sold’ signs appearing in region
‘‘We’re still seeing a large number of out of town buyers.’’
Property prices in the MatamataPiako district continue to increase but the number sold eased slightly, according to REINZ figures tracking the market in July.
The median price for a property in the Waikato region increased by 9 per cent, or $40,000, compared to July 2016.
Prices increased by 55 per cent in South Waikato, 23 per cent in Waikato district and 19 per cent in Matamata-Piako and Waipa districts.
Compared to June, the median price increased 5 per cent, or $24,000 for the region.
Prices increased by 14 per cent in Waipa, 13 per cent in South Waikato but decreased by 13 per cent in Thames-Coromandel and 19 per cent in Waitomo.
On a seasonally adjusted basis, prices increased 2 per cent compared to June, suggesting the increase in prices was larger than expected for July.
The median price for a property in Matamata-Piako district for July was $448,000, compared to $450,000 for June, and $375,500 for July 2016.
The number of properties sold for Matamata-Piako in July was 46. There were 50 sold in June and 52 sold in July last year.
Sales volumes across the Waikato fell, compared to June, by 15 per cent. Sales fell 46 per cent in Waitomo, 38 per cent in Waipa and 28 per cent in South Waikato.
There were no dwelling sales in Otorohanga.
Compared to to July 2016, sales across the region fell 32 per cent, the largest annual drop of all the regions. Sales fell 53 per cent in Waitomo and 44 per cent in Thames-Coromandel.
On a seasonally adjusted basis, sales for July fell 9 per cent compared to June, indicating that the fall in sales volume was greater than expected for July.
The number of days to sell eased by three, from 36 days in June to 39 days in July.
The number of days to sell eased by 10 compared to July 2016.
Overall in the Waikato region, there were 489,000 properties sold in July, compared to 465,000 in June and 448,100 in July 2016.
REINZ regional director for Waikato, Philip Searle said confidence in the region remained high.
‘‘We’re still seeing a large num- ber of out of town buyers, however, the number of investors has declined due to a tightening of bank lending.’’