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Northland Property Pulse factsheet – November 2011

Posted on: December 19th, 2011 | Filed in Northland Property Market Factsheet

The Northland region property pulse factsheet for November 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales in Northland at 136 in the month increased on a seasonally adjusted basis in November and is up 26% as compared to a year ago. The inventory of unsold houses on the market at 136 weeks has risen after falling to a low of 128 weeks. It is now just back above the long-term average of 130 weeks of equivalent sales.

Median sales price for property sales in Northland at $305,000 is down 2% as compared to a year ago. The recent trend has been a continued decline over the prior 6 months although the past month has seen a slight pick-up. The asking price expectation of new listings fell in November to $365,293, an 8% fall from the asking price in November last year.

The level of new listings coming onto the market in November at 713 was up significantly from October and up 46% as compared to a year ago.

 

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