The Taranaki region property pulse factsheet for May 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales across the Taranaki region at 226 in the month rose significantly on a seasonally adjusted basis in May and were up 12% as compared to a year ago. The inventory of unsold houses on the market rose markedly to 40 weeks, this leaves the inventory well up on the long-term average of 27 weeks of equivalent sales.
Median sales price of property sold in the Taranaki region at $280,000 was up 10% compared to a year ago and up from the prior month. The asking price expectation of new listings was also up 8% as compared to a year ago at $322,645.
The level of new listings coming onto the market in May at 339 was up from the prior month and up a very significant 72% as compared to a year ago.