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The REINZ Property Report for June 2024 has been released, showing a decrease in sales and median prices nationwide while listings continue to rise.
REINZ Chief Executive Jen Baird commented that “the typical winter lull, compounded by current economic conditions, has contributed to lower levels of activity in the market. This sentiment is reinforced by seasonally adjusted figures, which reveal a national sales decrease of 11.1% compared to May 2024, reflecting a market performance below expected levels.”
Bay of Plenty
The median sale price for the Bay of Plenty in June was $780,000, a -6% decrease year-on-year. There were 264 sales reported for the region, a -24.4% decrease on June 2023. The median days to sell has increased by 5 days year on year, now sitting at 59.
Download the full Bay of Plenty Market Update for June 2024.
Waikato
Waikato’s median sale price decreased -2.3% year-on-year to $720,000. There were 433 sales reported for the region, a -20.1% decrease in sales volume compared to June 2023. The median days to sell for the region has increased by 2 days and now sits at 55.
Download the full Waikato Market Update for June 2024.
Whangarei
Whangarei was one of the few areas to report an increase in sales, with 119 sales reported for June 2024, a 17.9% increase year-on-year. The median sale price for Whangarei in June was $620,000, an -11.4% decrease year-on-year.
Download the full Whangarei Market Update for June 2024