House sales higher than last year

South Waikato News - - PROPERTY -

Real Es­tate In­sti­tute of New Zealand data on the New Zealand hous­ing mar­ket for Oc­to­ber 2011 showed 5007 un­con­di­tional sales for the month, up 1104 sales (plus 28.3 per cent) com­pared to Oc­to­ber last year.

Only four mar­kets showed an in­crease in sales vol­umes dur­ing Oc­to­ber, with Taranaki, Welling­ton, Nel­son/ Marl­bor­ough and South­land all reporting in­creases.

Taranaki recorded the strong­est lift in vol­umes at 15.5 per cent, fol­lowed by Welling­ton (plus 7.6 per cent) and South­land (plus 2.4 per cent).

‘‘ The vol­ume fig­ures for Oc­to­ber sug­gest that the spring lift widely ex­pected in the real es­tate mar­ket has been muted but so too has any im­pact from the Rugby World Cup and Euro­pean uncer­tainty,’’ in­sti­tute chief ex­ec­u­tive He­len O’sul­li­van said. ‘‘ Vol­umes are up strongly com­pared to this time last year but that in part re­flects a very weak Oc­to­ber 2010 when sales vol­umes were among the low­est in the past 20 years.

‘‘We are see­ing plenty of ac­tiv­ity but buy­ers are still price con­scious.

‘‘They will move quickly when they find a prop­erty that meets their needs but prop­er­ties per­ceived by prospec­tive buy­ers as over­priced are not gen­er­at­ing much in­ter­est.’’

The national me­dian days to sell im­proved by two days from 37 days in Septem­ber to 35 days in Oc­to­ber.

Across New Zealand the to­tal value of res­i­den­tial sales was $2.15 bil­lion in Septem­ber 2011, com­pared to $1.6 bil­lion in Oc­to­ber 2010.

HOUS­ING MAR­KET: Fig­ures re­leased on the New Zealand hous­ing mar­ket.

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