Tauranga continues to lead New Zealand with property sales, as new figures released today reveal.
The Real Estate Institute of New Zealand figures show Tauranga property sale volumes increased by 27 per cent in October.
REINZ regional director Philip Searle said nationally sales volumes were up 13 per cent inOctober, with some parts of the country seeing solid volume growth month-on-month, including Manawatu/Wanganui (30 per cent), Northland (22 per cent), Waikato/ Bay of Plenty (19 per cent), and Hawke's Bay (24 per cent).
Auction sales from the Waikato/Bay of Plenty represented 19 per cent of national auction transactions and the number of auction sales in Wellington, Canterbury/Westland and Waikato/Bay of Plenty increased 69 per cent compared to November 2015.
Mr Searle said: "The number of first home buyers in the market is mixed across the region, with Hamilton reporting an increase, but other centres such as Tauranga and Rotorua experiencing a drop. However, investor numbers are down across the board. Whether this is due to the new LVR restriction or the continuing advance of prices across the region is uncertain."
