Bay of Plenty Times
  • Bay of Plenty Times home
  • Latest news
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Sport
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
  • Sport

Locations

  • Coromandel & Hauraki
  • Katikati
  • Tauranga
  • Mount Maunganui
  • Pāpāmoa
  • Te Puke
  • Whakatāne
  • Rotorua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Thames
  • Tauranga
  • Whakatāne
  • Rotorua

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Bay of Plenty Times

Home sales numbers drop sharply in Tauranga

Bay of Plenty Times
14 Feb, 2017 08:11 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The median value of homes sold in Tauranga dropped sharply last month compared with December.

The median value of homes sold in Tauranga dropped sharply last month compared with December.

Fewer homes are being sold in Tauranga, according to figures for January.

The median value of homes sold in Tauranga also dropped sharply last month compared with December but was still $100,000 more than a year earlier.

Those are the main findings from Reinz figures on January home sales that were released yesterday.

In total 78 homes sold in Tauranga last month, compared to 138 in January 2016.

January is traditionally a slow month for the housing market, and it is not surprising that sales numbers should be lower than December. However, the numbers were also down when compared with January last year.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

The drop in median values between December and January was likely caused by more expensive homes being sold before Christmas and cheaper ones being sold at the start of this year, according to one real estate agent.

Nevertheless, figures from the past couple of months and comments from industry insiders suggest that the days of rocketing house prices are coming to an end.

The chief executive of Eves and Bayleys Real Estate, Ross Stanway, said the market seemed to be normalising after the rapid price increases.

Advertisement
Advertise with NZME.

"We've been conditioned to two years of rising prices, and that has certainly flattened out," Mr Stanway said. "What we're seeing now is something many people would welcome, which is a more normal market."

Mr Stanway said low interest rates, high levels of buyer demand and a growing regional population were still supporting the market.

Anton Jones of First National was surprised to learn that the city had fewer sales than the Mount and Papamoa, as this was exceedingly rare.

He suggested that a quiet December had taken two or three weeks to filter through to January's figures, as it could take some time for sales to go unconditional.

Mr Jones said his office had "a very, very busy" January, with sales numbers up a healthy 50 per cent over the same month last year.

"It seems everybody must have stopped for Christmas earlier than usual," he said of the Reinz data. "Without a doubt, it picked up in January."

Reinz regional director Philip Searle said there was "less activity" in the Bay of Plenty, especially from investors.

Homes sold in the Bay of Plenty and Waikato in January had been on the market for an average of 44 days, compared with just 32 days in December. However, the average during the past 10 years had been 58 days.

Across the wider Bay of Plenty and Waikato regions, sales dropped by a whopping 34 per cent.

The newly released home values are medians, which are calculated by listing all homes sold from least expensive to most expensive and choosing the value in the middle.

Advertisement
Advertise with NZME.

Home for homebuyers

Prospective homebuyer Lynn Hanson welcomed the drop in Tauranga's median house prices.

Lynn Hanson, who recently, moved to Tauranga from Australia, is looking to buy a home with her son and his wife.

Lynn Hanson, who recently moved to Tauranga from Australia, is looking to buy a home with her son and his wife.Photo/Andrew Warner
Lynn Hanson, who recently moved to Tauranga from Australia, is looking to buy a home with her son and his wife.Photo/Andrew Warner

The house prices in Australia were "not as high as they are in Tauranga", she said.

"But I do think with the median price coming down; people are going to be more realistic rather than just having auctions all the time, there will be more price listings," she said.

"I can have a look around now with more confidence to find a home I want to live in, rather than just one I can afford. We've got a bit more bargaining power. When I looked over here two years ago, it was a seller's market. That seems to have changed a little."

Ms Hanson's son, Mark Page, said he and his wife Petrina also noticed houses coming off auctions.

Advertisement
Advertise with NZME.

"We know where we stand with price listings. And a lot of people find auctions intimidating," he said.

Mr Page said the price drop offered them more options.

What they were looking for was a nice three-bedroom home, but each had resigned themselves to accepting they could probably only afford a two-bedroom place as opposed to a "not-so-nice three-bedroom" place.

"Now there is a little bit of hope," Mr Page said.

Tauranga median sale prices

January 2017: $540,000
December 2016: $600,000
January 2016: $440,000

Advertisement
Advertise with NZME.

Mount / Papamoa median sale prices

January 2017: $632,500
December 2016: $615,000
January 2016: $580,000

Tauranga home sale numbers

January 2017: 78
December 2016: 121
January 2016: 138

Mount / Papamoa home sale numbers

January 2017: 80
December 2016: 85
January 2016: 89

Advertisement
Advertise with NZME.

Source: Reinz

Save

    Share this article

Latest from Bay of Plenty Times

Bay of Plenty TimesUpdated

'Plague of hoons' on motorbikes tearing up Tauranga parks

13 Jul 07:03 PM
Bay of Plenty Times

Making NZ top destination for international students

13 Jul 06:55 PM
Premium
Opinion

Opinion: Why Mary Meeker's latest AI insights can't be ignored

13 Jul 05:00 PM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from Bay of Plenty Times

'Plague of hoons' on motorbikes tearing up Tauranga parks

'Plague of hoons' on motorbikes tearing up Tauranga parks

13 Jul 07:03 PM

'Off they go waving their finger in the air.'

Making NZ top destination for international students

Making NZ top destination for international students

13 Jul 06:55 PM
Premium
Opinion: Why Mary Meeker's latest AI insights can't be ignored

Opinion: Why Mary Meeker's latest AI insights can't be ignored

13 Jul 05:00 PM
Sam Ruthe breaks NZ records in LA

Sam Ruthe breaks NZ records in LA

Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Bay of Plenty Times e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Bay of Plenty Times
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Bay of Plenty Times
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP