The national property pulse factsheet for June 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales across the country totaled 6,135 in the month showing a fall on a seasonally adjusted basis in June but at the same time representing a 17% increase as compared to a year ago. The inventory of unsold houses on the market at just below 30 weeks sets a new 4 year low and represents a turnaround from a rise in May reflecting how the rate of sale is outpacing the growth in new listings.. The current level of unsold properties on the market represents a very clear sellers market, well below the long-term average of 41 weeks of equivalent sales.
The stratified median house price for property sales in June was $383,095 which represents a 5% increase from June last year and sets a new record level for the country. The recent trend continues the steady increase for the past 18 months. The asking price expectation of new listings fell in June to $425,783 as measured on a seasonally adjusted basis, this represents a 2% increase from the asking price in June last year.