Dunedin Property Report - July 2021 (June 2021 stats)
July saw a decrease in the median sale price to $610,000. This is still up nearly 20% on June 2020 and almost 42% on June 2019 but the decrease reflects what has been happening around the country and likely indicates some softening in the ongoing rapid price growth we have been seeing.
The median number of days to sell increased to 29 also indicating that buyers are taking a little longer to make decisions.
The number of listings available stayed fairly consistent at 276 indicating that a similar number of properties were listed as were sold during the month.
We are still seeing good numbers of buyers and multi offer situations on properties that have a broad market appeal and are well priced, but we have noted some decrease in activity on properties where price expectations are a little higher or where the market is narrow due to the nature of the property. Of particular note is the slow down in interest from investors. Only the most viable investment properties are gaining good enquiry at the moment with more marginal investments often seeing much lower numbers of people showing interest than earlier in the year
Interestingly there were seven apartments sold in Dunedin for the month which is a growing trend as more apartment style properties become available in the city. This is a trend we continue to monitor as people’s housing preferences change over time.
11 sections sold across the city from Brighton to West Harbour. We continue to see good numbers of sections selling each month with more people looking at building in the face of ever increasing house prices.
Joe Nidd AREINZ