Manawatu Property Investors' Association

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Manawatu Sales Information for September

Please find below the report for the Manawatu for September 2013:

New format Q & A:

  1. Are there more first home buyers in the market compared to last month/last year?
    The increase in first home buyer activity that we predicted might happen prior to the LRV date of the 1stOctober did not eventuate.
  2. Are there more investors in the market compared to last month/year?
    There are a fewer Investors in the market place.
  3. How are attendances at open homes compared to last month/year?
    New listings are attracting good numbers at open homes particularly new low maintenance properties in the Kelvin Grove area up to the $420,000 price range. There has been a noticeable decline in numbers viewing properties that have been exposed to the marketplace for a prolonged period.
  4. What is happening with vendor expectations - rising or falling?
    There is some uncertainty and concern from vendors as to what is going to happen in the market place with the Reserve Banks implementation of the LRV policy. It appears to be a bit of “Suck and see” attitude at the moment. Time will tell.
  5. Are the number of listings rising or falling - are there not enough listings, about right or too many?
    The available listings in Palmerston North and Feilding have remained low but very consistent during the past 3 months.
  6. Have there been any sales or features of the market that are noteworthy?
    There has been noticeable shift in the lower end of the market where buyer activity appears to have risen from the $300,000 to $350,000 price range.


Further comment

It is interesting to note that the September sales volume in Palmerston North is down on the 135 sales recorded in August 2013 with only 104 sales recorded in Palmerston North.

There were 22 sales recorded in Feilding.

In addition there were 2 residential sections sold in Palmerston North and 3 sections sold in Feilding.

Ashhurst recorded 7 sales during September which is a great result.

If you have any queries please give me a call.

Kind regards


Andy Stewart AREINZ

Dip Bus Studies (Real Estate)

Licensed Agent REAA 2008

Mobile: 027 444 3712

Office:   06 350 7203

Fax:  06 356 4867


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