Archive for May 12th, 2009
There has been a degree of confidence returned to the residential real estate market as indicated by April sales figures released today by the Real Estate Institute of New Zealand (REINZ).
Institute president, Mike Elford, said the figures reinforce a certain level of stability in relation to price and turnover, and are pleasing particularly as April is traditionally a slower month due to school holidays and seasonal adjustments.
Turnover of housing continues to strengthen from last year’s figures although slightly down in April 2009 compared with March totals.
“The figures are not hugely significant, but enough to generate a degree of optimism about the way forward from here,” Mr Elford says.
The total number of homes sold nationwide in April (6,210) is down on the March 2009 figure of 6,694 but still well up on the February total: 5,228. This compares with 4,450 in April 2008 which is a pleasing trend, Mr Elford said.
Turnover continues to be strong in Auckland where 2,081 properties changed hands in April compared with 1,350 in April 2008. Manawatu/Wanganui and Taranaki both saw a rise in the number of sales from March 2009 to April 2009: 283 to 322 and 166 to 188 respectively.
The median price for homes across New Zealand for April 2009 continues the slow steady growth recorded over the past few months. February’s $330,000 median figure rose to $335,000 in March and again to $340,000 in April. This compares with the April figure from 2008 of $345,000, which is a percentage drop nationally of 1.44 per cent. Read the rest of this entry »