The volume of house sales in Dannevirke is up, with demand and price rises accordingly.
Latest REINZ house price data shows sales in Dannevirke hitting a record high in January, with a median price rise of 91 per cent, but the statistics aren't a true indication of what our market is doing.
"I guess the figures look very impressive, but the fact is there were
only three sales in January last year, with a total turnover of $273,500, compared to 10 sales this January totalling $1,622,000, so it's no wonder the median price rose by 91 per cent," Nigel Jackson, principal at Property Brokers Dannevirke, said.
"Those REINZ figures aren't really a true indication of what the market here is doing, but I would say it's definitely up and I think it's up around 12 per cent based on annual sales."
While REINZ reports sales volumes in Hawke's Bay fell 5 per cent last month, compared with January 2016, sales rose an astonishing 225 per cent in Dannevirke. That dramatic rise is coming off a very low base.
However, the market is buoyant and Mr Jackson said open homes were very busy last weekend with several buyers out and about, including some from out-of-town.
