The Whangarei real estate market has seen a big upswing in sales numbers in July. The number of house sales in the city is up 20% on June numbers and up 10% on July 2019. The median house price within the city has remained above $500,000, up 16% on July 2019.
The number of listings is as low as we have seen for a decade, but the buyer enquiry has been well above expectation given the current circumstances. We have experienced strong demand for property across all the price ranges and expect this to continue into the spring while the stock numbers remain low.
There is a heightened demand from investors looking to secure blocks of flats or multiple units within the Whangarei District.
It is difficult to measure the impact the elections may have on the market, however the increasing bank of buyers looking to secure Whangarei property should see the market stay strong and prices remain steady.
We have been able to avoid a Level 3 lockdown in the North and hopefully we will see Auckland back on track soon. Auckland has been a source of buyers for our market for some time and we welcome their safe return once the lockdown is over.
Spring is close and now is a great time to consider marketing your property given the strong demand. Traditionally spring brings out more buyers and more activity in the real estate market.
Give one of our salespeople a call and arrange a no obligation appraisal if you are considering a move. We are always happy to help with advice and market information.