December 2019 Real Estate Sales Snapshot

REINZ Dec data: Property market finishes 2019 with highest sales volume for December in 3 years New Zealand rounded off the decade. For New Zealand excluding Auckland, the number of properties sold increased by 5.8% when compared to the same time last year (to 4,425 up from 4,184) – the highest for the month of December in 3 years.

Bindi Norwell-REINZ CEO: “Looking around the country, 12 out of 16 regions saw annual increases in the number of properties sold – the highest number of annual increases in 3 months – with particularly strong increases in Auckland, the Bay of Plenty, Southland, Northland and Canterbury,” continues Norwell.

Record median prices were recorded in December• Southland with a 32.0% increase to $330,000 up from $250,000 at the same time last year. The median sell price for Invercargill City was $336,000 for the month of December.

Days to Sell decreases both year on year and month on month In December the median number of days to sell a property nationally decreased by 4 days from 35 to 31 when compared to December 2018 – the lowest days to sell in 3 years. Southland again had the lowest days to sell of all the regions at 21 days, down 2 days from the same time last year, but 3 days higher than November 2019’s figure which was the lowest median days to sell since August 2007.

FOR SALE 173 Queens Drive, Invercargill

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