Tauranga house sales increase by 10pc

MOVING FAST: Ross Stanway, chief executive of Realty Services, which operates Eves and Bayleys, is not surprised by the increase of house sales after a busy October.PHOTO/FILE

The number of houses sold in Tauranga has increased by almost 10 per cent in the past year.

Latest figures released by the Real Estate Institute of New Zealand show 121 houses were sold in October 2013, compared to 133 homes in October this year.

Mount Maunganui and Papamoa also saw an 8.7 per cent increase year on year, with 80 being sold in October last year and 87 this year.

The figures also show houses are selling on average nine days faster.

Tauranga's market reflected the nationwide increase, with the number of houses sold nationally in October up 11.8 per cent on September 2014.

Ross Stanway, chief executive of Realty Services, which operates Eves and Bayleys, was not surprised by the increase in volume of house sales.

"I think it's certainly expected that volume is up. October was a busy month for us, so that does not surprise me. Neither does the days to sell because we've had a lot of buyer interest."

He said the market had been speeding up in the lead up to Christmas and expected that to continue.

Tauranga Harcourts managing director Simon Martin said the housing market had quietened down leading into the election and October was a result of a bounce-back.

"The last part of September took off and that continued through to October.

"When you have an increase in volume like we have you're going to get a bit more competition and that'll speed things up ... it's a good market for sellers."

Mount Maunganui Ray White Realty Focus owner Greg Purcell agreed the positive figures were not surprising.

"Last month was a really good one for selling and I think that had been building. The previous month had been patchy ... the year has been very up and down.

"A lot of sales that were loitering in the previous months really came through."

Tauranga's Norrish Property Consultants owner Heather Norrish said the spring season was traditionally a good time for house sales.

"Spring is usually a fairly good time as well as February and March. Things sort of slowed off during the elections but it's picked back up since then. Once school breaks up it tends to slow down again."

Across New Zealand, the total value of residential sales, including sections, was $3.578 billion in October compared to $3.22 billion in September, and $3.447 billion in October 2013. For the year ending October 2014, the total value of residential sales was $38.907 billion.