22 Market Activity Market activity has continued to drop over the past few weeks. Activity dropped, as expected, in the weeks of Easter, ANZAC, and Queen’s Birthday weekends, but did not rebound from those drops as much as we have seen in previous years. This drop means that activity is considerably down on the same time last year right across the country. This will translate to far fewer people out on the streets looking at property, and will mean sales volumes will continue to be weak over the next couple of months. Market Activity Index Latest 3 Weeks Year-on-Year Percentage change Auckland -32% Hamilton City -31% Tauranga City -16% Wellington Region -11% Christchurch City -26% Dunedin City -7% This market activity is based on the number of automated valuations run by bank staff using our systems each week. This number of valuations correlates very closely to the number of sales that will subsequently occur so this is an extremely timely measure of buyer demand, more than any measure of sales. We can also track across any geographic area.