Welcome to Key Real Estate's monthly Property Report. We'll look at properties for sale in Rotorua, the Bay of Plenty and across the country. Check out the house price highlights below!

Properties in focus: Rotorua, Bay of Plenty, and nationwide listings.

Price Highlights:

Nationwide:

• Median price dropped by 2% to $790,000.
• Excluding Auckland, median price increased by 1.4% to $700,000.
• Month-on-month growth was 0.1% across the country in November.
  

Bay of Plenty:

• Median house price: $815,000 (4.9% annual decrease).
• 1.2% decrease compared to October.
  

Rotorua District:

• Median house price: $585,000 (12.7% decrease from last year).
• Decreased by $15,000 or 2.5% compared to last month.
  

Sales Statistics:

• Total properties sold: 6,422 (12.2% increase year-on-year, 15.7% increase month-on-month).
• Median Days to Sell: 38 days (no change month-on-month, 3-day decrease year-on-year).
  

Industry Insights (Jen Baird, REINZ CEO):

• November trends indicate steady market improvement post-election.
• Increase in properties coming to market and sales.
• Positive sentiment reflected in open home attendance and auction room activity.
• Anticipation of increased sales in December, typical for the busy real estate season.
• Overall positive sentiment, albeit varying by region.
• Market impacted by factors like interest rates; stability post-election observed.
• Expectation of a temporary slowdown over Christmas followed by resurgence in January.

We hope you enjoyed this month's Property Report. With so much movement in house prices, contact Key Real Estate, your Rotorua property specialist, to find your property value!