The latest news about the residential real estate market shows the December 2011 property sales were 20% higher than December the previous year. Figures from the Real Estate Institute of New Zealand put the number of unconditional sales for December at 5,316, the best result since 2007.
Auckland’s sale numbers were the highest December since 2006, with six regions (Waikato/Bay of Plenty, Manawatu/Wanganui, Taranaki, Nelson/Marlborough, Canterbury/Westland and Otago) having the highest December sales since 2007. Only two regions (Hawkes Bay and Wellington) had lower sales volumes than December 2010.
While sale numbers were up significantly, the nationwide median sale price was up only $3,000 compared with December a year ago.
“December has been a strong month for real estate sales in New Zealand, with this being the strongest level of transaction figures in December since 2007, and Auckland having its strongest December since 2006”, said REINZ Chief Executive Helen O’Sullivan. “Across the country sales volume is up by over 20% compared to December last year with some regions such as Manawatu/Wanganui and Taranaki reporting increases of more than 40%.“
“While the number of transactions is rising, prices have eased back from last month’s record highs, with some exceptions in parts of Auckland and the Canterbury/Westland region.”
