Property sales in the Bay of Plenty fell on a seasonally adjusted basis in June by 9.4%. A total of 266 property sales were recorded in June. In the first half of 2010 a total of 1,812 property sales were recorded compared to 2,131 sales in the first half of 2009, a fall of 15%.
Inventory of houses on the market fell again in June following the fall from the peak of 75 weeks of equivalent sales in April. The June inventory of 65 weeks of equivalent sales remains high relative to the long term average of 55 weeks. This would indicate that the market still holds a slight advantage for buyers.
Property prices for the Bay of Plenty are included in the broad Waikato / Bay of Plenty regional median property price, in May this price was $322,000 which was up 1.0% on June 2009 price.