June Sales Up 33% Across the Bay Despite Winter Chill

The Real Estate Institute of New Zealand (REINZ) has just released its June property report, highlighting a positive trend for first home buyers across the Bay of Plenty.

According to the latest data, the region’s median house price has risen by 5.1% compared to the same time last year.

Despite this increase, first home buyers continue to be the most active group entering the market.

REINZ Chief Executive Lizzy Ryley says local agents are cautiously optimistic.

“There’s a sense that easing interest rates could help boost the market further as we move into spring,” she said.

In terms of local figures, Whakatāne's median house price currently sits at $600,000, while Kawerau and Ōpōtiki are both at $450,000.

Regionally, the Bay of Plenty has the second-highest median house price in the country at $822,000, sitting behind Auckland, which leads at $990,000.

Junes Annual Median Price Changes- Supplied: REINZ

REINZ’s June data also shows that the average time to sell a home in the Bay is around 57 days.

A total of 380 properties were sold during the month, which is up 33.3% from listings in June 2024, therefore suggesting the market is now growing momentum despite the cooler winter months.

Ryley also noted that while auction clearance rates remain steady, some sellers are choosing to hold off listing their homes until the spring.

This raises the question: Will we see a surge in property availability once the warmer season arrives?