Spring sales lift comes through

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Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.


December 2017

REINZ chief executive Bindi Norwell

Sales volumes around New Zealand increased in November but they remain well down on last year, new Real Estate Institute of New Zealand data reveals.

By Miriam Bell

Nationally, the number of properties sold in November increased by 17.8%, or by 4.5% once seasonally adjusted, as compared to October.

Once Auckland was excluded, the number of properties sold in New Zealand was up by 19.4%, or by 5.7% once seasonally adjusted, on October.

In Auckland, which has been experiencing a significant market slowdown, sales volumes increased by 13.9%, or by 1.5% once seasonally adjusted, as compared to Auckland.

While all regions, except the West Coast, saw their month-on-month sales volume increase, sales in most regions were down when compared to November 2016.

Nationally, sales volumes were down by 9.2% year-on-year once seasonally adjusted.

In Auckland sales fell by 16.1% year-on-year once seasonally adjusted and were at the lowest level for any November since 2010.

REINZ chief executive Bindi Norwell says while there was a significant increase in properties sold, November traditionally sees a robust increase.

But the change in November as compared to October was stronger than they would have expected based on past data, she says.

“After a difficult winter and a slow start to spring…………

Continue reading this article at the original source from Landlords.co.nz




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