HOUSING MARKET UPDATE (REALESTATE.CO.NZ)
Business and consumer confidence is driving heightened activity this spring, which is already out performing previous years figures.
October saw a significant rise with 14 new property listings. This is a 27% increase from the previous month (September). And an increase of 8% compared to October last year.
The Central North Island recorded the biggest growth, up 39%. Followed closely by Nelson’s 34% increase, compared to last year.
NZ median house asking price is $482,063. The main centres continue to break house asking price records. Hawkes Bay and the Coromandel has also seen asking prices rise steadily.
The number of unsold homes on the market at the end of October is 38,577. This is an 11% decline compared to October 2012 with 43,410.
It is still firmly a seller’s market with 16 of 19 regions in NZ showing inventory levels lower than average. The amount of homes for sale remains at the equivalent of 24.2 weeks of stock.
Filed under: REAL ESTATE | Tagged: Real Estate