Date: 18th May 2021

REINZ data released last week once again shows that the housing market is continuing its upward trajectory. We’ve seen a 17.6% increase in median house prices across Hawke’s Bay, from $655,000 in April 2020 to $770,500 in April 2021, with Napier City reaching a new high of $810,000.

April sales volumes were the highest for 5 years across the country which sounds encouraging but the headline doesn’t paint the full picture. April volumes were down compared to March, and May is more of the same.

The number of houses consented to build is naturally seeing an upward trend, but the shortage of building supplies and labour around the world means building costs are also increasing. Unless the government can come up with a way of rectifying these issues, the balance of supply and demand will continue to drive up prices across the board.

Keep an eye out for our ‘Did you know’ campaign which shares our property knowledge and experience with everyone. As part of the campaign, did you know if you get an up-to-date appraisal before the end of July, you will go in the draw to win a fully installed Toshiba heat pump or a $2500 travel voucher? To find out more, or to tell us what you need to know, give one of the Tremains team a call today to find out more.

21^st May