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Southland Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in Southland Property Market Factsheet

The Southland 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 Southland at 130 in the month were when seen on a seasonally adjusted basis flat for the past 3 months. The sales were significantly up 44% as compared to a year ago. The inventory of unsold houses on the market fell to 39 weeks of equivalent sales, the recent couple of months has seen inventory rise up as compared to the long-term average of 32 weeks of equivalent sales.

Median sales price at $204,000 was up a very significant 20% as compared to a year ago, and up 20% on the prior month. The asking price expectation of new listings was up 9% as compared to a year ago at $259,063.

The level of new listings coming onto the market in October at 276 rose steeply as compared to September and was up 4% as compared to a year ago.

 

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