A pre-Christmas rush on Tauranga real estate has seen sales volumes exceed the national average.
The Real Estate Institute of New Zealand's latest figures show the number of houses sold in Tauranga rose a whopping 37.6 per cent in the month to November.
There were 311 homes sold in Tauranga during November compared to the 266 homes sold the month before. In the Western Bay of Plenty, 55 homes sold last month.
The Bay of Plenty, which sold 533 homes last month, was one of the top performing regions to surpass the national annual increase of 3.3 per cent - with the region's sale volumes jumping 17.4 per cent and 16.9 per cent in Tauranga.
Local real estate experts were putting the boost in sale volumes down to a pre-Christmas rush.
REINZ chief executive Bindi Norwell said the Bay had the third largest increase in sales volumes in November, behind Gisborne's 39.3 per cent increase and 28.6 per cent in the West Coast.
Norwell said part of the jump in the region's sale volumes was due to a 14.6 per cent rise in listings during October.
"November is traditionally a busy time of year as people look to buy and sell properties ahead of Christmas," she said.
"We're hearing lots of feedback from agents in the region that they've been very busy in the lead up to Christmas."
Regional director Neville Falconer said Tauranga followed its traditional end of spring pattern with a strong upper end of the market, compared to the lower and middle price ranges.
However, there was a decrease in the level of first home-buyer interest.
"Open homes for new listings were well attended. However, for the properties that didn't sell within a couple of weeks the vendors might need to adjust their price expectations," Falconer said.
"Overall, its looks to be a normal pre-Christmas rush, and then it will slow down before it
all gets busy again in February."
Simon Anderson, chief executive of Realty Group which operates Eves and Bayleys, said November was a busy month for the market, which had come off the back of a slow month.
"We have had a lot more listings come on than previous months," he said.
Anton Jones, general manager for Tremains, Waikato and Bay of Plenty, said there was certainly more activity in the Tauranga market last month.
"People want to get things sorted before Christmas and that certainly has an effect in November," he said.
Tauranga Harcourts managing director Simon Martin said there was a few more listings coming on to the market, which he expected to continue into Christmas and the New Year.
Martin said many holidaymakers would visit over the festive season to check out the market before making any decisions to move to the area.
WHERE WERE THE MOST SALES?
- Papamoa Beach: 65
- Mount Maunganui: 48
- Pyes Pa: 28
- Welcome Bay: 28
WHAT TYPE OF HOMES WERE SOLD?
- Less than $400,000: 10
- 400,000 to $499,000: 50
- 500,000 to $599,000: 61
- 600,000 to $699,000: 60
- 700,000 to $799,000: 47
- $800,000 to $899,000: 30
- $900,000 to $999,000: 13
- $1 million and over: 40