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Southland Property Pulse factsheet – November 2011

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

The Southland 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 Southland at 139 in the month were when seen on a seasonally adjusted basis flat for the past 4 months. The sales were up 11% as compared to a year ago. The inventory of unsold houses on the market remained stable at 39 weeks of equivalent sales, sitting steady above the long term average thereby indicating a slight favour towards buyers in the market, The long-term average inventory is 32 weeks of equivalent sales.

Median sales price at $196,000 slipped slightly from October, and was up 4% as compared to a year ago. The asking price expectation of new listings was down 2% as compared to a year ago at $223,790.

The level of new listings coming onto the market in November at 327 rose steeply as compared to October and was up 11% as compared to a year ago.

 

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