Jun 3, 2010
Sales up in March
All over the country, the number of sales and median residential property prices and number of sales rose in March according to the latest figures released by the (REINZ) as buyers were spoilt for choice because of large increases in listings. The President of the Real Estate Institute of New Zealand Peter McDonald describes the apparently strengthening residential property market as most encouraging. “Despite an abundance of good listings at present, we are still seeing prices going up as a result of strong demand from genuine home buyers,” he says. “After dropping to just 3666 in January, the number of sales (nationally) broke through the 6000 barrier last month which is seven percent better than last year. What is happening now is in strong contrast to the market in November when listings were short and prices went up because demand was not being met,” he says. While the latest national median residential house price is only $500 up on the December figure, it is more than 7 percent up on the median price
for the corresponding month last year.
FREE Kapiti Real Estate Guide
Kapiti Real estate Agents FREE report. Kapiti and Paraparaumu real estate.