Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy we are not at liberty to comment on the market data; so, we’ll just let our ‘desktop analyses’ of the sales numbers do the talking.
Invercargill Sales by Property Type
Report Period: January – June 2019 comparing the previous 6 months July – Dec 2018
□ REINZ reported sales. Private / Developer direct sales not included.
| Property Type | January – June 2019 | July – Dec 2018 | Variance +/- |
| Residential Dwellings (RD) | 865 sales | 914 sales | -5.3% |
| RD Median Sell Price | $291,500 | $259,000 | +12.5% |
| Residential Sections/ Lifestyle Blocks (RS) | 74 sales | 104 sales | -28.8% |
| RS/ RB Median Sell Price | $155,000 | $127,500 | +21.5% |
| Total Sales Numbers | 939 sales | 1018 sales | -7.7% |
| Value of Sales $ | $300,175,240 | $291,004,740 | +3.1 % |
January – June 2019 comparing previous 6-months July -Dec 2018:
- Jan – June 2019 median sell price residential dwellings all types (home, unit, apartment, townhouse) $291,500. Sales above $700K represented 2.1% of all sales
- July-December 2018 median sell price residential dwellings all types (home, unit, apartment, townhouse) $259,000. Sales above $700K represented 2.5% of all sales.
Analysis of selling method/ All property Types:
January – June 2019 comparing previous 6-months July -Dec 2018:
| SELLING METHOD | Jan -June 2019 | Jul-Dec 2018 |
| Tender | 0.3% | 0.6% |
| Quiet/ Off market | 2.4% | 2.9% |
| Auction | 3.6% | 4.7% |
| Private Treaty | 93.7% | 91.8% |
REINZ Reported sales by price of Invercargill City Residential Dwellings
January – June 2019 comparing previous 6-months July -December 2018:
| Price Band | % of Total Sales | % of Total Sales |
| Sub $199,000 | 15.4 % | 25.1% |
| $200,000 – $299,000 | 36.5% | 39.2% |
| $300,000 – $399,000 | 24.4 % | 18.0% |
| $400,000 – $499,000 | 11.2% | 7.3% |
| $500,000 – $599,000 | 6.4% | 4.4% |
| $600,000 – $699,000 | 4.0% | 3.5% |
| Plus $700,000 | 2.1% | 2.5% |
REINZ Reported sales by price of Residential Sections/ Lifestyle Blocks.
January- June 2019 comparing previous 6-months July -December 2018:
| Price Band | % of Total Sales | % of Total Sales |
| Sub <$149,000 | 48.5% | 62.5% |
| $150,000 – $199,000 | 13.8% | 9.6% |
| $200,000 – $249,000 | 22.9% | 18.4% |
| $250,000 – $299,000 | 4.0% | 3.8% |
| $300,000 – $349,000 | n/a | 0.9% |
| $350,000 plus | 10.8% | 4.8% |
Data Source: REINZ. Private & Developer direct sales data not included.
Disclaimer: While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.
Steve Lindsay 