September property sales up 21 per cent
The property market rebounded strongly in September from a year ago, but the usual spring lift failed to materialise with just 43 more houses sold than in August.
The number of properties sold across New Zealand last month was up 21.1 per cent from September 2010, with the latest figures from the Real Estate Institute of New Zealand showing 5,235 unconditional sales were written in September.
The median house price of $350,000 weakened 1.4 per cent, or $5,000, from August.
However, house prices were increasing from the low levels they sank to during the recession, with fresh data from QV showing property values were back to only 4.6 per cent below the 2007 market peak.