Tauranga Property Market - Sales Strong - Values Steady

15th September, 2011

The latest stats have come out showing a strong increase in the number of sales for the Western Bay. The Residential property sales in the Western Bay rose 45 per cent last month compared with last August.

Latest New Zealand Real Estate Institute figures show there were a total of 246 sales in the Western Bay last month, compared with 169 for the same time last year.

Mount Maunganui and Papamoa had a burst. Eighty houses changed hands on the coastal strip, up from 63 in July and well ahead of the 47 in August last year.

Across the harbour, the volume reached 110 compared with 97 in July and 78 in August last year.

So what does this mean? With significantly lower levels of property on the market compared to past years the properties that are for sale tend to be fetching solid prices simply because there isn’t a lot of property for purchasers to choose from.

A spring listing surge is yet to occur in Tauranga and it may be a window of opportunity for sellers to take advantage of the low levels of competition and list their homes in the next month or two.