Fresh off the press is the June 2020 NZ Property Report, put together by realestate.co.nz. Here are excerpts from that report, to help you make informed property decisions.

“Real time data suggests that the NZ Property market has remained buoyant post- Covid-19. It looks like Kiwis are still selling and, in most regions, that they have not significantly lowered their price expectations”... is the opening paragraph of the most recent New Zealand property market overview from realestate.co.nz
Despite an unavoidable decline in new listings coming onto the market during the lockdown, new property listings bounced back right across the country in June – up 19.7% on the same time last year.

Bridget’s comments – Marlborough was one of four regions to see new listings decrease which keeps competition high amongst buyers , this means that now is a really  good time to sell, rather than waiting to see what happens, as more listings may be on the horizon  if New Zealand wide trends are to be followed in Marlborough.

Property prices remained stable in June with the national average asking price sitting at $727,749 – a marginal increase of 0.5% compared to May 2020 and 10.4% higher than in June 2019.
realestate.co.nz says “It is promising to see that despite the challenges many Kiwis are facing in 2020, we didn’t see price expectations drop in too many of our regions during June.”

Bridget’s comments – The asking price data is backed up by actual sales data
too. Compared to April 2020 Marlborough’s house prices saw an 8% increase
in May 2020, prices are definitely holding and anyone waiting for them to drop may wish to reconsider their strategy.