The Waikato region property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales in the Waikato region totaled 352 in the month. This reflected a fall as measured on a seasonally adjusted basis in July but was up 4% as compared to a year ago. The inventory of unsold houses fell to 35 weeks of equivalent sales still continues to see inventory remaining significantly below the long-term average of 48 weeks of equivalent sales.
Median sales price for properties sold across the whole of the Waikato / Bay of Plenty region at $305,100 was flat compared to a year ago, but down on the prior month. The asking price expectation of new listings rose 3% as compared to a year ago at $349,303, marginally down on the June figure of $352,462.
The level of new listings coming onto the market across the Waikato region in July at 670 was up 22% as compared to a year ago, but down as compared to June.
The data indicates that the Waikato region remains a clear sellers market with pressure in the supply of listings. The recent sales activity though appears to be slowing and this is probably constraining any inflationary pressure on prices which in the case of sales prices have not moved appreciably over the past 2 years.