July 2020 posted more sales, higher prices and quicker times to sell right across the Bay of Plenty. The median sale price for the Bay increased to $659,000 and in Tauranga City is was $710,000. There were 70 sales above $1m in the city.
The greatest challenges for buyers right now are securing finance, the limited number of properties currently for sale and an increase in competition as many kiwis return home. Now that overseas holiday options are limited, many kiwis are spending more in our local economy, including buying property. The low interest rates and strong demand are contributing to the increase in house prices. The outlook is for these trends to continue for a while.
Sales by Suburb Tauranga City July 2020
High End Sales Tauranga City July 2020
The Bay of Plenty Regional Report July 2020