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 remained the same as last month at $795,000. Excluding Auckland, the median price also remained the same as last month at  $705,000.
• Bay of Plenty: Median house price: $825,000 (2.8% annual increase). 0.6% increase compared to October. 

Rotorua District:

• Median house price: $612,000 (3.1% increase from last year). Increased by $47,000 or 8.3% compared to last month. 

Sales Statistics:

• Total properties sold: 7,233 (10.8% increase year-on-year, 3.2% increase month-on-month). Median Days to Sell: 42 days excluding Auckland, a 3-day increase year-on-year). 

Industry Insights (Jen Baird, REINZ CEO):

• Buyers are showing increased interest, spurred by the recent reduction in the Official cash rate.
• Decrease in properties coming to market and sales.
• Attendance at open homes increased due to lower interest rates and the warmer season.
• Overall positive sentiment, albeit varying by region. Market sentiment was influenced by increased buyer activity, increased stock and investors return to the market.
• November saw more life in the property market.
• Buyers are benefiting from steady prices and increasing options, while sellers in many areas are seeing stronger interest.

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!