Market Opinion

Much of the following is compiled from REINZ news and Ray White Corporate. 

Property prices throughout New Zealand eased in July although sales remained strong.

The impact of midwinter on sales activity and buyer enthusiasm, and easing prices in some of the major centres, brought the July national median selling price down from $284,500 in June to $280,000, according to the National President of the Real Estate Institute of New Zealand (Inc), Mr Howard Morley.

Mr Morley said the slowdown in price movements was traditional for this time of year, "although total national sales are up from 8,025 in June to 8,213 in July, which is pleasing, vendors are more likely to take the prices offered at this time of year whereas in spring and summer it tends to be more of a sellers' market."

While across the industry sales numbers are slightly down when compared to last year, Ray White numbers are ahead on year to date analysis.

RAY WHITE WHANGAMATA is enjoying an increased level of inquiry as the weather warms with the rate at which contracts are being typed being markedly higher than in June/July.

Our profile remains strong with the combination of new company ownership and the implementation of innovative service measures.

Prices, in general, are holding and stock steadily sold is being replaced with new stock. Despite the election, hurricane Katrina and fuel prices, all signs are pointing towards a buoyant summer.