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Property Dashboard - New Zealand

October 2014

The property market when assessed across the whole country shows a general level of easing from recent constrained pressure. The level of inventory and the pace of the market are both in the green quadrant providing for a balanced market with price inflation easing although still in amber. This situation really preferences neither buyers nor sellers as it begins to offer more stability and certainty than had been seen over recent years.

The pace of the overall market edged back marginally in September from a clearance rate of 16.1% in August to 15.8% in September. The inventory levels showed a healthy easing from 26.9 weeks in August to 27.3 weeks in the past month, providing ever greater choice for buyers. The trend in sales price continues to slow, this month slipping from 8% to 7.5%, having peaked in March of this year at 9.1%. 

 

Latest Property Dashboard - October 2014


12 months prior - October 2013


Archived Property Dashboards:


 Notes on Dials and Data:


The Inventory indicates the level of available properties for sale at the end of the prior month, relative to the rate of sale of properties in the month. Thereby indicating that based on this rate of sale, how long it would take to sell all the stock of houses.

It is expressed in terms of weeks of available inventory. The number of properties on the market is the actual at the end of the prior month. The sales are the seasonally adjusted sales in the prior month

For example if there are 900 properties on the market and the sales in the month total 150 then the inventory will be 26 weeks - meaning if that rate of sale continued it would take 26 weeks (6 months) to sell all the properties.

The Pace indicates the rate of sale, in other words how active the market is.

This is measured as a clearance rate. It is the proportion of properties on the market that are sold in the month. The measure of sales is the 12 month moving average. The properties on the market is the actual number at the end of the prior month.

The source data is the REINZ property sales data and the Realestate.co.nz monthly Property Report

For example with 900 properties for sale on the market and sales on a 12 month moving average of 150 the clearance rate is 16.7%

The Price movement is the variance expressed as a % of the current month's price vs. the same month a year earlier.

The source data is the REINZ median sales price for provincial regions with the Stratified Median Price Index for the 3 main cities. The variance is based on a 12 month moving average price.

The range is set to reflect the 2% Policy Target of the Reserve Bank being the vertical position of the dial.

 


Property Dashboards for all regions of New Zealand