Property sales jump 10pc in September

The first month of the 'spring selling season' saw the the number of houses sold jump 10 per cent from the month before, while the national median house sale price was steady, rising 0.9 per cent.

Figures released this morning by the Real Estate Institute of New Zealand (REINZ) show the national median sale price was NZ$350,000 in September, just below its peak of NZ$352,000 in November 2007.

There were 6,464 sales over the month, up from 5,878 in August and 4,499 in September 2008.

When compared to the same month last year, sales were up 2.9 per cent.

Newly appointed REINZ President Peter McDonald said the figures "indicate improved confidence of buyers and sellers in the marketplace".

"We're seeing a slow, but steady, appreciation in sale values and we're now back to the prices being fetched in the corresponding period in 2007 when the median was NZ$351,500," he said. There were 5,894 sales in September 2007.

To read the full NZ Herald article, click here

Posted: 14 Oct 2009

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