Wellington, 16 October 2019 - Growth in the regions is fueling annual sales growth in September of 48% for Tall Poppy Real Estate, echoing the latest
figures released by the Real Estate Institute of New Zealand (REINZ).
REINZ’s September statistics reveal strong growth in regions including Manawatu, Whanganui and Taranaki, aligning with
sales achieved by Tall Poppy in each of these areas. Joe Wilkes, a property expert advising Tall Poppy, believes some of
this growth is a flow-on effect from Auckland.
“Our teams in places like New Plymouth, Tauranga, the Marlborough Sounds and Christchurch see more Aucklanders at open
homes. The cost of living has become too high, and they can’t get on the property ladder unless they look further
afield,” says Joe Wilkes.
The first two weeks of October have been strong for the company, and Sam McIntyre, Tall Poppy Director believes spring
has come late to the market.
“While September was a good month for us, now the weather is improving, and school holidays are over, more people are
listing their homes for sale.
“We expect activity to return to usual spring levels in the lead up to Christmas,” says Sam McIntyre.
REINZ also reported fewer properties available for sale during September. Joe Wilkes believes equity is an important
consideration for homeowners.
“Kiwis love to trade up - using equity in their home to move up the ladder. With prices not rising at quite the same
pace as they were three years ago, and when factoring moving costs (lawyer’s fees, moving expenses and real estate
fees), people have different motivations now when it comes to equity.
“Realistically, we can expect to see lower volumes for some time yet - real estate agencies with energy and the ability
to be nimble will thrive in this slightly different market. Our year on year growth shows Tall Poppy is already meeting
market conditions and succeeding, which is due to the skills of our experienced team,” says Joe Wilkes.
Tall Poppy is a New Zealand Real Estate Agency, headquartered on the Kāpiti Coast, north of Wellington. Founded in 2012,
it operates throughout New Zealand and has saved New Zealanders $35 million in fees. It is working to create a fairer
real estate industry for all Kiwis and prides itself in being an active member of the communities in which it operates.
It plans to be available in all regions of New Zealand by the end of 2020.