Tauranga and Western Bay of Plenty house prices continue to climb but they're taking longer to sell. Photo/file
Tauranga and Western Bay of Plenty house prices continue to climb but they're taking longer to sell. Photo/file
Tauranga house prices continue to rise but the time it's taking to sell them and the volume of property on the market has dropped.
Last month, the Real Estate Institute of New Zealand recorded the median house price for a house in Tauranga at $632,000. In the Western Bay ofPlenty the median house price was $630,000. In March, they were $628,000 and $600,000 and in April 2016 $585,000 and $470,000 respectively.
However, only a total of 239 Tauranga properties were sold last month, compared to 325 in March and another 338 in April 2016. In the Western Bay 49 houses sold in April 2017, compared to 69 the month prior and 67 in 2016.
REINZ regional director Philip Searle said the school holidays, Easter and ANZAC Day had a definite impact on the region with a large number of buyers and vendors taking holidays through the middle of the month.
"Underlying activity remains solid, although vendor price expectations are also running ahead of buyer expectations, indicating that prices are starting to stabilise," he said.
