Palmerston North Your local property report This report covers your local suburbs of Aokautere, Ashhurst, Awapuni, Bunnythorpe, Cloverlea, Fitzherbert, Highbury, Hokowhitu, Kelvin Grove, Milson, Palmerston North, Roslyn, Takaro, Terrace End, West End and Westbrook. December 2020 Brought to you by the team at LJ Hooker Palmerston North pq ph. 06 358 9009 f. 06 356 8464 ef [email protected] wx palmerstonnorth.ljhooker.co.nz/ Your local property report What’s happening in our local property market Recent Sales (12 months) At LJ Hooker Palmerston North our goal is to provide you with the information you need to make confident decisions about property - whether you are buying, selling, investing or renting. We have created this report which details local market conditions and how property is performing in your area which at times can be very different to the combined performance of the capital cities. Let us help you stay on top of changes in your local property market every month. Across our local market, we have seen 1,447 properties listed for with a median of $437,500. sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 1,351 taking place over the The most traded suburb for homes in our area has been Hokowhitu past 12 months. Looking at the market, the best performing suburb, with 161 homes sold over the past 12 months. Dwelling prices in over the past 12 months, has been Palmerston North which has Hokowhitu have performed strongly with growth of 13.6% and now seen its median sales price grow by 21.3%. The median sales price have a median price of $584,000. of a home in Palmerston North is now $479,000. West End saw its The time it takes to sell a home in our region ranges from 8 days in median sales price grow by 19.8% with the median price now sitting Cloverlea to 21 days in Fitzherbert. at $454,000 and Cloverlea grew 19.0% across 31 individual sales Suburb performance Strongest growth 21.3% Palmerston North 12 months SOLD SOLD Palmerston North 106 $479,000 21.3% 9 Most traded 161 West End 81 $454,000 19.8% 8 Hokowhitu properties Cloverlea 31 $437,500 19.0% 8 Fastest sellers 8 Terrace End 91 $494,000 17.9% 9 Cloverlea days SOLD Number sold (12 months) Median Price Median Growth 12 months Median Days on Market Palmerston North Your local property report This month it’s all about Hokowhitu One of the most popular suburbs in our region is Hokowhitu where 165 homes were listed for sale over the past year. Homes in Hokowhitu have an average land size of 679 square metres. The suburb is tightly held with residents typically holding their home for 10 years. The median value of dwellings in Hokowhitu is $649,350. This is higher than the median sales price which is currently $584,000. Over the past 12 months, buyer interest has eased with 161 homes sold this year compared to 211 sales last year. Homes are typically selling within 13 days. Sales prices have grown by 13.6% over the past 12 months. All of this means it is now a great time to sell in Hokowhitu. Recent Sales (12 months) Snapshot on Hokowhitu SOLD Number of Median Average Change in Average Days Total Value Median Indicative Gross Properties Sold Sale Price Median Price on Market of Sales Asking Rent Rental Yield 161 $584,000 13.6% 13 $101.78m $370 3.0% Sales and Listings – Hokowhitu Prices and change – Hokowhitu Number of properties listed for sale Median change in sales price (%) Number of properties sold Median sales price over 5 years Palmerston North Your local property report Recent Area Sales 14B Gloucester Street, Takaro 52 Manawatu Street, Hokowhitu 3 1 0 409m2 3 2 1 828m2 Sale Price$650,000 Property Type Vacant Sale Price$609,000 Property Type Dwelling Sale Date13/11/20 Days on Market 18 Sale Date04/11/20 Days on Market 1 397 Ruahine Street, Terrace End 119 Roberts Line, Kelvin Grove 4 1 1 762m2 4 2 1 679m2 Sale Price$685,000 Property Type Dwelling Sale Price$580,000 Property Type Dwelling Sale Date31/10/20 Days on Market 26 Sale Date30/10/20 Days on Market 15 23 Rangitira Avenue, Palmerston North 1 Bryant Street, Takaro 3 1 1 304m2 4 3 2 809m2 Sale Price$580,000 Property Type Dwelling Sale Price$696,000 Property Type Home & incom Sale Date30/10/20 Days on Market NA Sale Date30/10/20 Days on Market 22 Palmerston North LJ Hooker Palmerston North Manawatu 1994 Ltd Licensed REAA 2008 ph. 06 358 9009 f. 06 356 8464 [email protected] palmerstonnorth.ljhooker.co.nz/ Data for this report is provided by CoreLogic RP Data. 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