Marlborough Region Quarterly economic monitor - June 2020

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House sales

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Highlights for Marlborough Region

  • House sales in Marlborough Region in the year to June 2020 decreased by 12.4% compared with the previous year. Growth underperformed relative to New Zealand, where sales decreased by 6.0%.
  • A total of 906 houses were sold in Marlborough Region in the 12 months ended June 2020. This compares with the ten year average of 958.

National overview

House sale volumes fell sharply in the June quarter, as the Level 4 lockdown period impeded sales taking place. The weak June quarter lead to a 6.0% decline in sales over the year to June 2020.

Surprisingly strong house prices at present may encourage more listings to come to market in the coming months but with an overall deterioration in economic conditions, households are more likely to stay put, keeping sales volumes low.