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The Kaipara housing market may have cooled in recent months, but property values remain higher than they were a year ago, according to the latest data from the Real Estate Institute of New Zealand (REINZ).
Figures in REINZ’s monthly property report for May show Kaipara house values are up 4.45 percent over the past 12 months, with a median sale price of $570,000 in the district. While sales activity was lower than a year ago, Kaipara continues to record regular market activity.
Across wider Northland, the median home sale price increased 3.9 percent year-on-year to $660,000. REINZ said first-home buyers and owner-occupiers remained the most active groups in the market, while new listings and lower-priced properties continued to attract strong interest.
REINZ said market sentiment across the region was being influenced by an abundance of available stock, limited competition, cautious lending conditions and broader economic uncertainty.
The organisation expects a healthy level of seasonal listings in the coming months, although overall market conditions are likely to remain relatively flat. REINZ said conditions are becoming more measured than during the peak years of the post-pandemic property boom, with buyers having more choice and taking more time to make purchasing decisions.
