Southland: “Median house prices increased 13.6% year-on-year to $375,000 in December 2020, up from $330,000 in December 2019. The strength of the market locally saw Southland with the highest increase in house price values for the South Island with a 15.7% increase in the HPI year-on-year.
The market has remained relatively steady over the last few months with sales volumes increasing 25.5% year-on-year from 157 in December 2019 to 197 in December 2020 – this is the highest sales count for a December month in 14 years. Listings increased 23.2% annually with 170 new properties coming to the market in December, however recent high sales volumes have resulted in inventory decreasing -19.7% year-on-year to the lowest level on record. Looking forward, we would expect to see the market continue in a similar manner in the coming months.” Bindi Norwell REINZ CEO
- The current Days to Sell of 22 days is less than the 10-year average for December which is 32 days.
New Zealand: The highest number of properties sold in NZ in a December month, ever! The number of residential properties sold in December 2020 across New Zealand increased by 36.6% from December 2019 (from 6,543 to 8,935) – the highest number of properties sold in a December month since REINZ records began.