Property sales for the Central North Island rose on a seasonally adjusted basis from June by 9%. A total of 40 property sales were recorded in July as compared to 66 in July 2009. On a moving annual total basis sales are fairly flat across the region, in the last 12 months 602 properties have sold as compared to 610 in the prior 12 months.
Inventory of houses on the market picked up again in July. The current inventory of 96 weeks of equivalent sales is considerably higher than the long term average of 74 weeks. This would indicate that the market is still favouring buyers.
Property prices for the Central North Island are included in the broad Waikato / Bay of Plenty regional median property price, in July this price was $315,000 which was down 1.6% on July 2009 price.