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Taranaki Real Estate Market – November 2021

Property prices climbed further in November, early signals suggest price growth will continue though more moderately, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.

Here’s the monthly real estate market update for Taranaki:

Taranaki saw a median house price of $626,100 in November 2021, up 26.2% from November 2020. Two districts in Taranaki reached record medians: New Plymouth District ($742,000) and Stratford District ($550,000). Like many regions around the country, Taranaki saw an uplift in its inventory levels this November — up 2.3% annually. However, listings declined by 1.7% year-on-year. The Taranaki market seems to have waned slightly despite the increase in stock; some buyers have withdrawn from the market due to banks tightening their lending criteria — this is predicted to become more difficult with rising interest rates. Over the coming months, prices are expected to stay firm, but with the market tracking at a slower pace.

This data is provided by the Real Estate Institute of New Zealand.

 

 

Are you considering a move? Get in touch with me for a free appraisal on your property in Taranaki. At Arizto Real Estate we offer fair fees, free marketing and better service.

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Tony Skilling

Taranaki Real Estate Consultant
Arizto, Licensed REAA 2008
Mobile: 020 486 6975
Email: [email protected]