Property Dashboard - Manawatu / Wanganui
The property market across the Manawatu / Wanganui region would seem to favour buyers at this time primarily due to the weakness of prices. This matched to a good selection and a modest pace would provide good options for astute buyers.
The pace of the market showed no change from August to September indicating that there is no significant underlying pent-up demand in the market. The availability of property for sale equally barely moved in September registering a level of supply equivalent to 39.3 weeks of available properties on the market. The weakest part of the market is the rate of annual price growth which remained in negative territory in September at -1.4% a slight weakness from -1.1% in August.
Latest Property Dashboard - October 2014
12 months prior - October 2013
Archived Property Dashboards:
Notes on Dials and Data:
The Inventory indicates the level of available properties for sale at the end of the prior month, relative to the rate of sale of properties in the month. Thereby indicating that based on this rate of sale, how long it would take to sell all the stock of houses.
It is expressed in terms of weeks of available inventory. The number of properties on the market is the actual at the end of the prior month. The sales are the seasonally adjusted sales in the prior month
For example if there are 900 properties on the market and the sales in the month total 150 then the inventory will be 26 weeks - meaning if that rate of sale continued it would take 26 weeks (6 months) to sell all the properties.
The Pace indicates the rate of sale, in other words how active the market is.
This is measured as a clearance rate. It is the proportion of properties on the market that are sold in the month. The measure of sales is the 12 month moving average. The properties on the market is the actual number at the end of the prior month.
The source data is the REINZ property sales data and the Realestate.co.nz monthly Property Report
For example with 900 properties for sale on the market and sales on a 12 month moving average of 150 the clearance rate is 16.7%
The Price movement is the variance expressed as a % of the current month's price vs. the same month a year earlier.
The source data is the REINZ median sales price for provincial regions with the Stratified Median Price Index for the 3 main cities. The variance is based on a 12 month moving average price.
The range is set to reflect the 2% Policy Target of the Reserve Bank being the vertical position of the dial.