Local real estate year in review - Sales activity and prices up despite challenges

Last year's Level 4 lockdown brought an unexpected surge of buyers to the Far North, albeit virtually. Photo / File

Real estate activity in the Far North continued to grow through the challenges of the past year, according to insights from local real estate agency Barfoot & Thompson.

"A busy start to 2021 and strong buyer interest, even through lockdown, saw another year of increased sales numbers and higher prices," says Hayden Clarke, branch manager for Barfoot & Thompson Kerikeri.

Sales in the wider Kerikeri, Doubtless Bay and Bay of Islands areas serviced by the agency were up by nearly 40 per cent on 2020, while the average sale price was up 14 per cent tipping over the million mark to $1,019,000.

Stock was a key driver in activity, with listings decreasing throughout the year and intensifying pressure of buyer demand.

"Stock levels in Kerikeri and surrounds reduced dramatically through the year, and reached the lowest point I've seen in August and September, to around a third of normal levels."

The year was also not without surprises when the nationwide move to level 4 in August brought an unexpected surge of buyers to look north, albeit virtually.

"We handled a significant number of remote sales agreements for buyers eager to move further north and, as such, purchase sight unseen."

The typically busy Christmas and New Year period was quieter last year than usual though, as holidaymakers focused on relaxing and getting out and about, rather than real estate.

"However, in January we've seen the return of buyers from outside the region and an uptick in listings coming online," says Clarke.