Dunedin Property Report - May 2024 (April stats)

Dunedin’s median sale price increased to $629,000 in April. This is an increase of 9.4% year-on-year.

The median number of days on the market for properties sold in April was 34 which is up a little from 30 in March but still down significantly from 43 in April 2023.

The number of properties currently listed on RealEstate.co.nz has dropped from last month’s high of 707 to 685 as of writing this report.

The number of sales in April was once again up significantly from 134 in 2023 to 161. 

There were 24 sales over $1m for the month and almost 35% of sales were over $750,000, up from around 25% last month. Properties over $1m took a median of 51 days to sell with properties over $750,000 taking a median of 36 days to sell.

Six townhouses sold in April with 33 currently available for sale. Section sales are beginning to pick up with six sales in April ranging in price from $299,000 to $625,000.

Investor enquiry continues to increase with both seasoned investors and “mum and dad” investors showing stronger interest than in recent months. Cost of finance and access to borrowing remain hurdles for many with some investors reportedly acting now to purchase before further lending restrictions are enforced.

Joe Nidd AREINZ
Owner/Principal