REINZ statistics show an increase in the volume of sales in May. Tauranga had 105 sales, up 23% from April and on the coastal side there were 83 sales, an increase of 35% from April. First homeowners are active once again and this has meant more volume at the lower end of the market, thus giving us a slight decrease in median sale price in both areas.
Confidence is moving up, with interest rates appearing to stabilise, the Governor of the Reserve Bank indicating that OCR should not move up for the foreseeable future and in fact should trend down. All this positivity feels like we have reached a turning point in the market.
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