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Napier housing market slows over holidays

February 19, 2017

Buying General Market Selling

During December and January, sales plummeted 33% to 82 and 87 sales respectively as the Napier housing market showed signs of slowing. This was partly due to the holiday season, but more significantly as the Reserve Bank’s prudential policies started to have their desired effect. These restrictions are two-fold: investors across the country now need […]

Dust settles on housing market

November 23, 2016

Buying Market Selling

Sales volumes in the Napier Housing Market eased back to 106 during October which (apart from a surge between February and May) is 5% less than the average annual turnover. This easing is in response to the new Reserve Bank lending restrictions, which came into effect from 1st October 2016. These restrictions are two-fold: investors […]

Supply limits turnover, pushes prices

September 27, 2016

Buying Market Selling

It’s been a while since we’ve reported that the volume of sales in a month in 2016 was significantly less than in 2015. That’s the case in August 2016 (26% less than 2015) and July 2016 (24% less than 2015). Rather than demand, the primary reason for only 95 sales in August is related to […]

Turnover peaks, prices plateau

August 5, 2016

Buying Market Selling

Sales turnover in Napier peaked between February and May 2016 easing back in June to 105 primarily due to constraints in the availability of homes for sale. During the past year 37% more homes have sold than in the previous 12 months. The portal realestate.co.nz shows that the number of new listing fell by 10.9% […]

Heartening news for home owners

June 29, 2016

Buying Market Selling

The continuing strong activity in the property market is heartening news for Hawkes Bay home owners which, like many other provincial areas, has emerged from a long eight-year period of stagnant economic growth and poor job prospects. There were 128 sales in Napier during May, which is 25% higher than the 10-year average. However, with […]

Catch up time for the region

May 5, 2016

Buying Market Selling

Napier’s turnover during March continued at a strong level with 123 sales – 11% above the 10-year average. However, the Napier market is becoming progressively tighter because sales activity of recent months has out-stripped the number of new properties coming up for sale. The total number of properties listed for sale in Napier is only […]

Sellers benefit from price rises

March 23, 2016

Buying Market Selling

After a post-holiday lull in January sales turnover recovered in February with 125 sales in Napier and 120 in Hastings. This level of turnover is 33% higher than the 10-year average. The median price has improved steadily since September 2015 with the Quotable Value monthly house price index showing a 7.1% improvement in Napier during […]

Housing data reflects holiday lag

February 13, 2016

Buying Market Selling

Market activity over Christmas period continued to reflect the strength of the prior months. Turnover eased back in the New Year primarily because of a limited supply of new listings coming onto the market and the lag created by the holiday period. Now that normal schedules have resumed activity is expected to pick up again. […]

Napier market indicators steady

January 19, 2016

Buying Market Selling

According to the latest REINZ data, each of Napier’s market indicators is holding steady. During the past 3 months the Sales turnover has averaged 114 sales per month which is 12% above the 10-year average. At 27 days, the average days to sell remains uncharacteristically low. The last time it took less than a month […]

Napier market trends positively

November 11, 2015

Buying Market Selling

All Napier’s market indicators are trending positively. Sales turnover is now averaging over 100 sales per month, which is 10% above the 10 year average. The biggest improvement is the average days to sell which, at 25 days, is the first time it has fallen below a month since April 2005. Properly priced properties sell […]

Beware break fee for fixed loans

October 18, 2015

General Market

Mortgage interest rates have fallen rapidly in recent months after the Reserve Bank began cutting the official cash rate in June. Home-owners can now lock in a mortgage for as low as 4.35% for a year if they meet special conditions. According to interest.co.nz, this time last year the average one year fixed term mortgage […]

Napier property prices improve in response to shortages

October 18, 2015

Buying Market Selling

Sales turnover hit a peak in July with 134 sales. Volumes have eased back during the subsequent months, however, the past quarter has been the strongest since 2007, up a massive 63% on the same quarter last year. This surge in activity appears to be driven by activity in the middle and lower end of […]

Strong turnover constrained by supply

September 21, 2015

Buying Market Selling

The strong turnover of the prior month continued through August with 128 homes sold according to the latest REINZ data for Napier. Turnover during the past year is now 22% higher than the previous year, and over the past two months sales volumes are at levels last seen in April 2007. Activity in the top […]

Housing demand drives turnover upward

August 14, 2015

Buying Market Selling

The latest REINZ data for Napier shows that July was characterized by very strong sales of 134. This evens out the relatively modest sales of 83 in June. Turnover above 130 in Napier last occurred in February 2008 soon after the market peak, however the market influences now are a little different to then. The […]

Rent or buy a home?

August 14, 2015

Buying Market

For many, home ownership is a dream – and a fabulous goal to have! The most important thing to consider before you buy is affordability. The good news is that because of the combination of low interest rates and relatively affordable property prices in our area, home affordability is currently at it’s best level in years. […]

A lack of listings is limiting Napier house sales potential

July 27, 2015

Buying Market Selling

After a strong month in May house sales in Napier eased back to 83 in June, a level which is 9% below the 10 year average. During the past year the sales turnover has improved by over 3%. Since February 2015 the gap between the benchmark 10 year average monthly turnover has narrowed, which indicates […]

Napier house sales strong

June 17, 2015

Buying Market Selling

House sales in Napier grew to 110 during May to sit 20% higher than the prior month. Since February 2015 the gap between the benchmark 10 year average monthly turnover has narrowed, which indicates a recovery in demand, which has been sluggish over the past 18 months. This stronger growth could be attributed to the […]

Napier home sales recover

May 25, 2015

Buying Market Selling

The average number of Napier home sales during the past year is sitting at 82 sales, which is 15% below the 10 year average. During the past 3 months sales turnover has shown signs of recovering to levels approximating that 10 year average level. This recovery appears to have been led by an increasing number […]

Housing market announcements

May 18, 2015

General Market

This month there have been several announcements affecting the housing market, but regional areas like Hawkes Bay are unlikely to experience any significant changes to the status quo. In its six-monthly financial stability report, the Reserve Bank announced its intention to introduce new loan-to-value ratio (LVR) limits on lending to property investors in the Auckland […]

Napier house sales sustained

April 23, 2015

Buying Market Selling

The elevated Napier house sales volume seen in February continued in March 2015 with 104 sales. However, the average turnover over the past year is still 18% below the previous 12 months. A sustained improvement of over 95 sales per month will be necessary to suggest a turn in the market. This recovery appears to […]