Despite the country being in lockdown during April there were still nearly 50 property sales in Tauranga City and Western Bay of Plenty. The momentum gained from previous activity started in March, ensured some sales were able to be concluded during a challenging period. However I imagine the number of transactions that were actually started and completed during level 4 lockdown was very low. Generally people need access to complete due diligence procedures before buying or selling and as we know, this was difficult during level 4.
Median sale prices were largely irrelevant as the volume of sales does not provide sufficient data to analyse in a meaningful way.
Now that it appears that we are on top of the threat of a pandemic and we move down to level 2 and beyond, we can expect to see activity starting to lift again.
The full extend of the economic downturn hasn’t been felt yet. The next three months may see a change in sales results.
Here’s the Actual Sales above $1,000,000 for April 2020.
Here’s the BOP Regional Report for April 2020.
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