Property sales activity has continued to strengthen across the country signalling growing buyer and seller confidence in the market.

Cotality’s latest Housing Chart Pack shows that property sales volumes continued to strengthen in May, with volumes about 5% above the 10-year May average and surpassing average levels for a third consecutive month. Sales volumes for the month were 16% higher than in the same month last year and rose for the 24^th time in the past 25 months.

Cotality Chief Property Economist Kelvin Davidson noted that property sales had been trending upwards for around two years and that sales activity was now back at normal or slightly above normal levels. It was now clear that confidence in the market was slowly returning, supported by falling mortgage rates and inflation being back in the 1%-3% target range, he said.

Meanwhile, the latest Trade Me data has identified Fendalton in Christchurch followed by Wellington suburbs Hataitai and Mount Victoria as being the country’s ‘hottest seller markets’ as measured by the shortest ‘for sale’ periods on Trade Me’s website. According to the latest Trade Me report there are more buyers than available homes in the three suburbs which has led to quicker sales times of between 34 and 45 days.

When it came to the strongest buyers’ markets, where demand is lower and buyers have more choice and time to consider options, Masterton in the Wellington region was the strongest with 80 average days advertised on Trade Me per property. The runners up were nearby Carterton and Cambridge in Waikato, which both averaged 78 days on the market.

Raine & Horne National Compliance Manager James Shepherd said that whether people were buyers or sellers now was a great time to get into the market and explore options.

“In many cities and towns vendors will be buoyed by the fact there is more demand for real estate due to stronger market conditions and lower interest rates,” James noted.

Whether you want to buy, sell or rent a property, don’t hesitate to contact your local Raine & Horne office.