January 2023 Residential Sales report

REINZ sales data for the Manawatu-Whanganui region has just been released.

A few key take-homes from this are:

-A 10% change in average house sale price for Palmerston North in the past 12 months. That’s a bit better than we were expecting as some individual sales have been coming in at 15% or more below 2021 RV’s.

Manawatu District has slightly increased over that time – we think that’s more a product of a greater proportion of sales around the Feilding comprising larger, modern homes than it is anything else

Rangitikei (which includes Bulls, Marton and Hunterville) saw no unconditional sales in the month of January compared to 5 in January 2022. usually only half of January is “active” so wouldn’t read too much into that dataset just yet.

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