After a record-breaking 2016 in so many of our markets, we keenly anticipated our January figures to see if our momentum would continue into 2017. So our result of $2.3 billion was well received, nicely up on our January 2016 result.
What's on the cards for the Australian property market in 2017?
The capital city's median prices continued to climb, demand remained at a high nationwide, the Official Cash Rate (OCR) dropped to record lows and the construction boom continued in full swing.
What can we expect for New Zealand's property market in 2017?
Auckland's house prices cracked the $1 million mark, supply struggled to meet demand and prices in most major cities increased - to mention just a few of the major developments.
This strong demand resulted in excellent competition at auctions with vendors invariably delighted that they had agreed to a formal marketing campaign for their property.
By the numbers: Capital city residential property wrap up
An ASX long term investment report has revealed that property was the best performing asset class in Australia for the entire decade prior to 2016 (returning 8 per cent per year on average).
The last month of winter provided a slightly better level of results than we had been anticipating - always difficult to create sales volumes when listings are tight!
