AuSAE - REINZ - Lifestyle Market Softens as Winter Bites

REINZ - Lifestyle Market Softens as Winter Bites

19 Jul 2017 1:31 PM | Deleted user

Data released today by the Real Estate Institute of NZ (REINZ) shows there were 392 fewer lifestyle property sales (-15.8%) for the three months ended June 2017 than for the three months ended June 2016. Overall, there were 2,088 lifestyle property sales in the three months ended June 2017, compared to 2,304 lifestyle property sales for the three months ended May 2017 (-9.4%), and 2,480 lifestyle property sales for the three months ended June 2016.

8,520 lifestyle properties were sold in the year to June 2017, 447 (-5.0%) fewer than were sold in the year to June 2016. The value of lifestyle properties sold was $6.63 billion for the year to June 2017.

The median price for all lifestyle properties sold in the three months to June 2017 was $601,250 and was $21,250 higher compared to the three months ended June 2016 (+3.7%).

Brian Peacocke, Rural Spokesman, at REINZ says: “Whilst sales volumes for the three months ending June 2017 were solid, the data released confirms a distinct easing for the month of June compared to the previous month and a continuation of the trend from the peak in sales volumes 12 months ago. Apart from a sound 9% increase in Northland and a solid performance on the West Coast, all other regions experienced a decrease in sales numbers during the month of June.

“The onset of winter may explain the reduction to a degree, but reports from around the country indicate a shortage of listings with the resulting tendency of some vendors to remain fixed on price unless a reasonable opportunity to progress to another property is available. Given the affordability presented by the current level of interest rates, the trends that emerge within the market over the next few months will be interesting,” he concludes.

Four regions recorded an increase in sales compared to June 2016. Wellington recorded the largest increase in sales (+24 sales) in the three months to June 2017 compared to June 2016, West Coast had an increase of 20 sales, and Manawatu/Wanganui saw an increase of 12 sales. Compared to May 2017, two regions recorded an increase in sales.

The national median price for lifestyle blocks rose by $21,250 (+3.7%) for the three months to June 2017 compared to the three months to June 2016. New record median prices were recorded in Nelson at $692,500 and Waikato at $687,500.

The median price for lifestyle blocks in Auckland fell by $130,500 (-10.1%) from $1,286,500 for the three months June 2016 to $1,156,000 for the three months to June 2017. Over the same period, the median price rose by 32.6% in Waikato to $687,500, and fell by 3.1% to $630,000 for Canterbury.

The median number of days to sell for lifestyle properties improved by three days in the three months to June 2017 compared to the three months to June 2016 to sit at 54 days. Compared to the three months ended May 2017 the median number of days to sell eased by five days. Gisborne recorded the shortest number of days to sell in June 2017 at 18 days, followed by Waikato at 46 days and Auckland at 47 days. West Coast recorded the longest number of days to sell at 152 days, followed by Nelson at 77 days and Otago at 75 days.

This article was originally sourced from Scoop Business.

Strengthening Trans-Tasman Connections: AuSAE and Tourism New Zealand Business Events Renew Partnership

Association professionals across Australia and New Zealand have even more reason to explore trans-Tasman opportunities. AuSAE is proud to announce the renewal of its longstanding partnership with Tourism New Zealand Business Events, celebrating 11 years of collaboration.

For over a decade, this partnership has strengthened connections between the two countries, helping associations expand networks, share knowledge, and deliver world-class events.

Toni Brearley, CAE, Chief Executive Officer at AuSAE, said:

“Our partnership with Tourism New Zealand Business Events has opened doors for association leaders to plan unforgettable events and connect with peers across the Tasman. Together, we’ve created opportunities, shared knowledge, and elevated the experiences of our members and their delegates. This partnership reinforces our commitment to fostering strong trans-Tasman collaborations, helping associations innovate, grow, and deliver outstanding value to their members.”

Helen Bambry, Business Events Manager at Tourism New Zealand, added:

“Partnering with AuSAE means we can directly support association professionals in bringing their next international business event to New Zealand – offering assistance, funding, and support to ensure exceptional experiences for both organisers and delegates.”

Watch the Tourism New Zealand Business Events video

What this partnership means for you

For Australian associations:

Receive expert guidance and support to bring conferences or member events to New Zealand.
Access funding assistance through Tourism New Zealand Business Events.
Expand your network and build partnerships with New Zealand peers and industry leaders.
Deliver international experiences for members and delegates just across the Tasman.

For New Zealand associations:

Strengthen professional connections with Australian association leaders through AuSAE’s network.
Share expertise and collaborate on professional development, governance, and member engagement initiatives, and more.
Gain visibility within the broader association community in Australia and New Zealand.
Access opportunities to host international association events and delegates in New Zealand, boosting local engagement and knowledge exchange.

About AuSAE:

The home for association professionals, the Australasian Society of Association Executives (AuSAE) is the leading - and only not-for-profit, member-based - organisation supporting association professionals in Australia and New Zealand. For 70 years, AuSAE has been a trusted partner for those working in associations, providing professional development, support, and networking to help association leaders achieve organisational goals, advance their careers, and strengthen the wider sector.

About Tourism New Zealand Business Events:

Tourism New Zealand Business Events provides expert guidance, funding, and support to attract conferences, incentives and corporate events to New Zealand.

--- ends ---

For more information about AuSAE, please contact Toni Brearley, CAE:
Toni Brearley, CAE
Chief Executive Officer, AuSAE
E: toni@ausae.org.au
T: + 61 458 000 155

To apply for funding and support to host a conference in New Zealand contact Helen Bambry:
Helen Bambry
Business Events Manager, Tourism New Zealand
E: Helen.Bambry@tnz.govt.nz
T: +61 415 933 325

The Australasian Society of Association Executives

Contact us:

Email: info@ausae.org.au
Phone: 1300 764 576 (within Australia)
Phone: +61 7 3268 7955 (outside Australia)
Address: Unit 6, 26 Navigator Place, Hendra QLD 4011, Australia