Attached is the Reinz November Monthly Property Report released today which gives you up to the minute sales data around the country.
Some outstanding quick facts on our local property market:
- Manawatu District (incl. Feilding): A new record medium sale price for October of $450,000 (up from $441,000 in September & $370,000 in Oct. 2018). Increase in last 12 months 21.6%.
- Palmerston North city: A new record medium sale price for October of $470,000 (up from $461,500 in September & $410,000 in Oct. 2018). Increase in last 12 months 14.6%.
- The local market and increasing sales prices shows no signs of slowing with the ‘perfect storm scenario’ (critically low stock with multiple buyers for most properties, banks eager to lend more on historically low interest rates, low return for term deposits thus increasing investment in property).
See pages 37 -40 for the Manawatu-Wanganui report.
