The monthly real estate data for September 2024 has just been released showing an 18 percent increase in residential house sales in the Upper Clutha over September 2023.

There were 33 residential sales with a median house price of $1.4M, consistent with prices this year*.

In total 106 Upper Clutha sales were registered in September with several pre-title sales for townhouses (13) at Rowley Place and Alta Villas, and section sales (58) at Studholme Rise and Pembroke Terrace.

These sales relate to historic transactions and were recognised in September when the title was issued.

We are seeing a slow pickup in the market and positive chat, especially after the announcement of a cut in OCR of half a basis point by the Reserve Bank.

It is a really good step, especially for the real estate market, and to hear murmurings for further cuts will only add confidence to buyers as we head into 2025.

For many, real estate is our biggest asset so it is important to understand where your property sits in the market today and understand what opportunities are on the horizon.

We can help clarify the market and identify where opportunities lie, understanding that will be different for everyone. It is a good time to review and to speak to a mortgage broker or bank to ensure you are making the most of this recent market movement.

* REINZ statistics - September 2024