Tauranga home sales break 10-year record

Karen Worley from Tauranga Eves and Bayleys. Photo/file

House sales have hit a 10-year high in Tauranga, with 216 homes sold in 31 days - the largest number since March 2005.

The whopper month for Tauranga house sales was a 79 per cent jump on the corresponding time last year, when 121 sold.

HOT PROPERTY: Supply is not keeping up with the demand for houses in Tauranga, Eves and Bayleys marketing manager Karen Worley says.

Across the bridge, Mount Maunganui and Papamoa house sales also jumped, by 52 per cent year on year, to 125.

With a total of 341 sales across the board, an average of 11 houses sold every day last month.

The figures were also up from June this year, when 178 houses sold in Tauranga and 112 in Mount Maunganui and Papamoa - at least one less sale every day, on average.

July was traditionally a slow month, but not this year, group sales and marketing manager for Eves and Bayleys Karen Worley said.

"Looking back through the statistics, July is usually a pretty average month."

Buyers were starting to panic and settling for less than they had hoped for so they did not miss out, she said. "Things are not going to ease off any time soon.

"The constant pressure on the Auckland market is pushing buyers down to Tauranga."

There was more demand but less stock than last year, which added pressure, she said.

"Supply is definitely not keeping up with demand, because listings are well down from the same time last year.

"You can see why building is doing so well, because there's just not enough."

Tauranga Harcourts managing director Simon Martin agreed it was no surprise to see Tauranga sales go above 200.

"The buyers don't come and go seasonally, but the listings do.

"The demand doesn't stop."

Harcourts had a lot more listings than at the corresponding time last year, he said.

"There's certainly more stock coming on the market, so it's not showing signs of slowing any time soon."

Anton Jones of First National said homeowners looking to sell would often hold off putting their property on the market until the end of winter.

"People are holding off for spring but they probably don't need to," the Tauranga, Mount Maunganui and Omokoroa franchise owner said.

"Things are going from strength to strength. Now is as good a time as any. People are scared to miss out."

Mr Jones was not surprised last month was a 10-year high for Tauranga.

"It's been coming.

"I'm surprised it hasn't hit before. It's just going nuts really."