First home buyers are back

According to Real Estate Institute of New Zealand (Reinz) figures, 59 homes sold in Wairarapa this June, up on 48 at the same time last year.

Sales of Wairarapa homes were up this June on last year, thanks in part to first home buyers coming back into the market.

According to Real Estate Institute of New Zealand (Reinz) figures, 59 homes sold in Wairarapa this June, up on 48 at the same time last year.

Harcourts managing director Prue Hamill said there had been good genuine enquiry in the area and quite a few properties had attracted multiple offers.

Ms Hamill said first home buyers coming back into the market had helped drive the increase. Low interest rates were also helping.

Wairarapa was currently attracting buyers from outside the area. This was positive as Wairarapa could always use professional people coming into the area, Ms Hamill said.

Some homes were selling rapidly but new properties were consistently replacing them.

Ms Hamill said now was a good time to sell a home, rather than wait for the spring market as people often did.

"We've got good genuine buyers out there."

The median price of Wairarapa homes sold this June was $215,000, up on $212,000 at the same time last year.

Ms Hamill said the market was driven by supply and demand and multiple offers on houses would increase prices.

Nationally, 7426 dwellings sold in New Zealand in June 2015, according to Reinz.

That was up 29.2 per cent on June 2014 and down 7 per cent on May.

The median price of the sales this June was $450,000, up $23,000 on June 2014 and down $10,000 on May.

Excluding Auckland, the average median price for June was $340,000, on par with last June and down $9000 on May.