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Wellington – Property market pulse factsheet – June 2010

Posted on: June 24th, 2010 | Filed in Wellington Property Market Factsheet

Property prices based on the stratified pricing model fell in May to $403,925 from $409,205 in April. Compared to May 2009 prices are up 4.4%.

NZ Property market pulse factsheet - Wellington stratified price June 2010 Realestate.co.nz

Property sales fell significantly on a seasonally adjusted basis with 446 in May as compared to 549 in April. Sales for the first 5 months of 2010 reflect a 6% lower level than the same period on 2009.

NZ Property market pulse factsheet - Wellington sales June 2010 Realestate.co.nz

Inventory of houses on the market fell in May from the April level of 27 weeks of sale to 23 weeks, this figure is close to the long term average in the region of 21 weeks.

NZ Property market pulse factsheet - Wellington inventory June 2010 Realestate.co.nz

In overall terms the property market across Wellington continues to be steady with no significant advantage to either buyers or sellers, although sales volumes remain subdued.

The Wellington region – Property market pulse factsheet for June 2010 is available as a download pdf document.

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  3. JohnB says:

    Am important issue with respect to the Wellington analysis (and other City/Rural “Markets”) is that unless it has been massaged from the REINZ original data it is not a single market. Smaller regional areas such as Wairarapa and Otaki/Levin are included in this data. Removing those areas – which is relatively easy with the REINZ, shows a different scenario, although I have not seen a “Inventory of property for sale” detail of Wellington. A similar situation occurs in Canterbury/Christchurch and Waikato/Hamilton.
    Any chance realestate.co.nz could separate the property for sale stats by city vs rural?

  4. Alistair Helm says:

    JohnB

    Thanks for this comment. I agree with you that it would be better to just show the principle city of Wellington as the regional data extends through from the Hutt Valley to the Kapiti Coast. The Wairarapa data is not included.

    I see that it would be useful to breakout the major metro areas and this is certainly something we can do. At this stage we are creating these reports to mirror the 19 major regions we present on the website.

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