The Northland region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales in Northland at 102 in the month fell significantly on a seasonally adjusted basis in October and is below the levels of a year ago. The inventory of unsold houses on the market at 128 weeks is in line with long-term average at 130 weeks of equivalent sales.
Median sales price for property sales in Northland at $292,500 is down 7% as compared to a year ago and continues a declining trend from the prior 6 months. The asking price expectation of new listings rose in October to $410,736, whilst still the same level as compared to a year ago.
The level of new listings coming onto the market in October at 622 was up significantly from September and up a significant 31% as compared to a year ago.