Market conditions are improving for property owners in Southland, with the median price for region at the bottom of the South Island rising by 8.2% to $487,000. Invercargill City has shown an even more impressive increase of 14.1% month-on-month in September, according to the latest REINZ Monthly Property Report[i].

Moreover, the results from September reinforce the upward trend in median prices since September 2023, with Invercargill's prices rising by 6.4%. This positive development coincides perfectly with the launch of Raine & Horne Invercargill, led by Peter Driver and Mark Elder. This dynamic duo boasts an impressive track record of achieving exceptional results for their clients.

According to Jen Baird, CEO of REINZ, the most active buyer groups in Southland are first-home buyers and owner-occupiers, with early interest from investors. “Attendance at open homes increased with the announcement of decreased interest rates and the arrival of spring.” Auction room activity also improved, which increased the number of auction campaigns. On the ground in Southland, local salespeople predict that over the coming months, there will be an increased sense of positivity as the weather continues to warm.

Heading back to the top of the South Island, Raine & Horne Blenheim led by Debbie Webster has announced its official switch to the 141 year old Australasian powerhouse just as the REINZ reports property values in the Marlborough District jumped by 9.7% month-on-month in September after being down over the previous 12 months.

“Owner-occupiers and out-of-town buyers were the most active buyer groups for September, with Blenheim salespeople noting a slight decline in first-home buyers,” said REINZ’s Jen Baird. Regardless of market conditions, Debbie Webster loves the challenge of working hard to achieve the absolute best result and thrives on the personal satisfaction from a job well done, knowing that she has had a positive influence on her client’s lives.

Two hours west of Blenheim, the median price for the Tasman district which is serviced by Raine & Horne Richmond/Nelson City/Stoke/Motueka led by Craig Hamilton, dropped by 1.9% year-on-year to $795,000 but has enjoyed a springtime bounce of 6.7% in September. Craig's team also covers Nelson City, which has seen slight declines both monthly and annually, along with the Marlborough District, where prices have already risen significantly this spring. Overall, the Nelson/Tasman/Marlborough region experienced a 1.9% increase in September.

Raine & Horne also has a new office in Hornby, a residential and retail suburb on the western edge of Christchurch. Raine & Horne Hornby is spearheaded by Ken Sharplin, whose impressive results reflect his unwavering commitment to clients, coupled with his passion, dedication, and exceptional negotiation skills.

Furthermore, Ken’s decision to partner with Raine & Horne comes at an opportune moment, as the South Island’s biggest city’s median price has been rising since spring 2023, with a notable 3.6% increase in September, according to REINZ. In addition, the median price for the Canterbury region has risen by 1.2% year-on-year, reaching $688,000.

If you’re considering buying or selling a property, contact your local Raine & Horne office for expert advice and support.

[i] https://www.reinz.co.nz/Web/Web/News/News-Articles/Market-updates/REINZ-Sept-2024-data-Some-optimism-returns-to-New-Zealands-property-market.aspx?name=REINZ-Sept-2024-data-Some-optimism-returns-to-New-Zealands-property-market