Quarterly Lifestyle Report

MANAWATU Spring 2023

Your Lifestyle Property Guide

Tim Kearins

Century21 Premier 027 449 5547 tim.kearins@century21.co.nz palmerstonnorth.century21.co.nz/

MARKET PULSE

C21

What’s happening in the Manawatū?

Recent lifestyle sales across all agent brands (SEP-NOV 23)

SOLD 26

Total Sales

$890,000 Median Sale Price

-3.1%

Percentage Sale Price Difference from 1-Year Prior

47

Median Days to Sell

Overview Data released by the Real Estate Institute of New Zealand (REINZ) shows for the three months ending in November 2023 there was a total of 26 lifestyle sales here in the Manawatū, with a median sale price of $890,000. A total sales volume of $25,099,600 across the quarter. A definite increase in activity from the winter period.

The median days to sell dropped back to 47 days.

Nationally, the median sale price for lifestyle properties was $980,000 across a total of 1,266 sales for the quarter.

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What’s happening in our market?

Manawatū was one of four regions across New Zealand that saw an increase in lifestyle sales over the quarter, with an additional five (5) sales.

Market Performance Median Sale Prices

Sales There have been a total of 128 lifestyle sales in the Manawatū over the past 12 months, totalling $109,304,875. This is 1.32% of the total lifestyle sales across New Zealand.

On average homes are selling slower than previously seen with the median days to sell over the past 12 months at 77 days. Which is 29 days slower than the average 12 months prior.

The median list price is still sitting below the median sale price, so lifestyle properties continue to be well sought after in the region.

Number of Properties Sold

Why are these stats so important?

The default period for data capture in this report is 12 months unless otherwise stated and the report uses median prices which is the ‘middle’ price of a dataset captured over time. Medians are regarded statistically as more reliable than an average as it is not skewed by pricing extremes. It is always valuable to look at the types of properties that are selling in the region to get an understanding of the quality of properties and their features that are selling at different price points.

Median Number of Days to Sell

What’s my property worth?

The information provided in this report is general in nature. Growth rates are provided for guidance and based on the historical performance of the region and are not a guarantee of future performance. To understand what your property is worth, don’t hesitate to get in touch for a free appraisal so that we can discuss how the market’s current performance is specifically relevant to your property.

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Recent Sales in the Manawatū Across All Brands

SOLD

SOLD

161 Cemetery Road, Sanson

1564 Cheltenham Hunterville Road, Waituna West

$750,000 20 Oct 2023 Section: 40.468ha Building: 120m²

$1,200,000 19 Sep 2023 Section: 80011m2 Building: 270m²

SOLD

SOLD

347 Campbell Road, Bunnythorpe

487 Makino Road, Feilding

$560,000 19 Oct 2023 Section: 7,421m² Building: 118m²

$950,000 18 Sep 2023 Section: 8000m² Building: 197m²

SOLD

SOLD

200 Hewitts Road, Linton

62 Nga Tawa Road, Marton

$940,000 22 Sep 2023

$750,000 11 Sep 2023

Section: 50.639ha

Section: 17.799ha

Building: 281m²

Building: 133m²

SOLD

SOLD

1C A’court Street, Sanson

719 Makino Road, Feilding

$720,000 12 Oct 2023

$1,000,000 11 Sep 2023

Section: 11.992ha

Section: 32.378ha

Building: 230m²

Building: 154m²

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TIM KEARINS

CORRINNA BUNNING

tim.kearins@century21.co.nz

corrinna.bunning@century21.co.nz

027 449 5547

021 136 3273

Century21 Premier 10 The Square, Palmerston North, 4410 palmerstonnorth.century21.co.nz

Statistics shown are for a rolling 12 month period up to the end of the month. This report includes sales statistics up to 30 November 2022.

Disclaimer: This report is intended for general information purposes only. This report and the information contained in this report is under no circumstances intended to be used or considered as legal, financial or investment advice. The material in this report is obtained from various sources (including third parties) and Century 21 does not warrant the accuracy, reliability or completeness of the information provided in this report. Century 21 does not accept responsibility or liability for any omissions or, inaccuracies in this report or the information provided in this report, or for any losses incurred, either directly or indirectly, by any person arising from or in connection with the supply, use or misuse of the whole or any part of this report. Any third party data or analysis in this report does not necessarily represent the views of Century 21.