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Market Watch

Market Watch - August 2017

August Overview                                                                                          Printable Version

Activity in residential sales for Marlborough/Kaikoura remains steady with 88 sales compared to 87 sales in July.
There were 21 section sales for August, up on the 8 sales recorded for July, but is a reflection on subdivision title releases .
The median sell price for homes in Marlborough jumped to $420,000 in comparison to July’s 400,000. 
The median number of days to sell has also remained reasonably steady in August with 31 days compared to July’s 34 days.  

The total value of sales for August was $39,047, 477.

Mortgage Express Roundup

Understand the property market
If you don’t have experience in the property market, take the time to do your homework. Read up on the latest news around mortgages, lending, the Reserve Bank rules, and first home buyer assistance from Government. 
Check property listings on Real Estate websites and follow the trends: how much are properties selling for? How long are they taking to sell? Which areas are more popular, and hence more expensive? There’s a fair bit of research you can do on your own to gain a better understanding of the current market.
Work with an expert
There’s a good reason so many home buyers choose to work with a mortgage adviser: navigating the property market, understanding lending requirements and mortgage options is tricky business. 
Working with a mortgage expert who understands the rules and has relationships with various lenders can make a difference. 

 

Rural Roundup

The month of August has seen 18 sales in the Marlborough/Kaikoura district. Lifestyle sales continue to dominate the market at 64% followed by grazing 27% and forestry 3%. There was a wide spread of sales from as south as Ward to Queen Charlotte Sound. 
Land area ranged from 1 hectare  to 1304 hectare dry stock farm in the Ward area. Price ranged from  a low of $225,000 to a high of $2,500,000 with an average of $921,590.
As we enter into Spring we are seeing new listings coming to the market so please check out our Harcourts website under Rural/Lifestyle. 

 

New Building Consents

 

Sale Price to Ratable Value

Sales overview: (Marlborough/Kaikoura/Picton)