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West Coast Property Pulse factsheet – June 2012

Posted on: July 24th, 2012 | Filed in West Coast Property Market Factsheet

The West Coast district region property pulse factsheet for June 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales on the West Coast of the South Island at 45 in the month fell on a seasonally adjusted basis in June but was up a significant 41% as compared to a year ago. The inventory of unsold houses on the market fell to 68 weeks, reversing a strong rise seen in May. This level continues to see inventory well below the long-term average of 106 weeks of equivalent sales.

Median sales price of properties sold on the West Coast at $210,000 was down 2% as compared to a year ago and down on the prior month. The asking price expectation of new listings though was up 10% as compared to a year ago at $285,812.

The level of new listings coming onto the market in June at 95 was down as compared to prior month and up just 4% as compared to a year ago.

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