Nelson has seen the most houses sold in August for the last 14 years while Tasman has broken it’s record according to new figures released today.
The Real Estate Institute of New Zealand (REINZ) today released their monthly property report for the month of August which shows the number of houses sold nationally during the month was the highest for the last five years.
Nelson saw 105 homes sell during August – a 40 per cent increase on the same month last year, and the highest volume of sales for August in 14 years.
Tasman saw an increase from 66 homes sold to 85 during the month which is the highest August figure since records began.
Marlborough and the West Coast along with Otago and Gisborne were the only regions that saw a decrease in the amount of homes sold.
“The number of properties being sold is exceeding the number of new listings on the market which is likely to be pushing up prices and contributing to the shortage of stock,” says REINZ chief executive Bindi Norwell in regards to the Nelson, Tasman and Marlborough market.
“Most properties have multi offers because of the strong buyer demand and lack of listings. The region is still attracting out of town purchasers who are buying for future planning to move here. The market will continue to be busy with the attractiveness of job and lifestyle options in the area.”
She says overall there were 1520 more residential homes sold this August compared with the same time last year.
“For many parts of the country, August was an extremely busy month sales volume wise, with the highest number of properties sold for the month of August in five years bolstered by an uplift in sales volumes in Nelson, Auckland, Southland and Hawke’s Bay.”
Bindi says it will be interesting to see what happens now that we’re heading into spring, as traditionally sales volumes start to lift as the weather warms up.
“As we’ve already seen, 2020 seems to be defying all predictions and going against all norms at this point in time. However, the full impact of COVID-19 may not have been realised yet, particularly in relation to unemployment and the economy,” she says.
