REINZ Media Release:
12 September 2014
5,481 dwellings sold in August 2014, down 7.0% on July and down 16.3% on August 2013 National median price of $420,000, up $4,000 (+1.0%) on July and up $30,000 (+7.7%) on August 2013 Days to sell eased by one day to 38 days compared to July, and eased four days compared to August 2013
REINZ, the most up to date source of real estate data in New Zealand, announced today that there were 5,481 dwelling sales in the month of August, down 16.3% on August 2013 and down 7.0% compared to July.
The national median price was $420,000 for the month of August, an increase of $30,000 compared to August 2013, and an increase of $4,000 from July.
Real Estate Institute of New Zealand (REINZ) Chief Executive Helen O’Sullivan says, “The real estate market appears to be ‘idling’ as buyers and perhaps even more so, sellers, await the outcome of the September 20 election.
Sales volumes are 7.0% down from July 2014, and are 16.3% down on 2013 levels. The upcoming election is not the only factor however, as this is the tenth consecutive month of sales volumes being below the prior year’s levels.”