November house prices steady but sales slump

Median house prices were down 4.1 per cent in November from a year earlier, but slightly up on October prices, new Real Estate Institute (REINZ) figures show.

But while the median price was holding from a month earlier, the number of dwelling sales fell to 4279 in November from 4469 in October and 7837 in November 2007.

The figures follow data from QV Valuations at the start of the week also hinting at the possibility of some price stability after recent house price falls amid global financial turmoil.

REINZ's national median price last month was $337,500, up from $335,000 in October, while a year earlier it was $352,000.

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Posted: 11 Dec 2008

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