Monthly Property Statistics - September 2024
With the announcement of interest rate drop last week, there has been more confidence with buyers in the market. Already we have seen a property sell with a multi offer situation with 5 offers. This type of activity hasn't been seen for over a year.
According to Jen Baird, REINZ CEO, she has stated that "Owner-occupiers, first home buyers, downsizers and investors were the most active buyer groups across the region."
Hamilton &, South Waikato regions all showed the same signs, the median house price in September was just up from August but the volume of sales was slightly down.
Enquiry for properties that are being sold off the plan are now improving, as investors are aware that there is likely capital gains to be made from now until completion of these projects. Some developers are offering as little as 5% deposit to secure these properties, as well as other attractive incentives.
Note: Monthly statistics are provided by REINZ.