Looking Up

Need I say more?

Things looking up in housing market

Natasha Burling  14 June 2011

Just-released Real Estate Institute data shows turnover for May was 10.3% higher than April, which is the strongest month-on-month lift for the year.

It picked up in almost every region, apart from Wellington, Central Otago lakes and Otago.

ASB economist Chris Tennent-Brown says turnover has picked up almost every month of this year, which is encouraging.

“Although for the real estate industry, turnover is still a long way short of the level of activity we saw when the housing market was really booming.”

However, Mr Tennent-Brown says it’s a long way from the depths of despair the industry has been in over the last two or three years.

 

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