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West Coast Property Pulse factsheet – October 2011

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

The West Coast district region property pulse factsheet for October 2011 is published using data from and REINZ (Real Estate Institute of NZ).

Property sales on the West Coast of the South Island at 31 in the month fell significantly on a seasonally adjusted basis in October and was down 6% as compared to a year ago. The inventory of unsold houses on the market fell again dramatically to 78 weeks, well below the long-term average of 106 weeks of equivalent sales.

Median sales price of properties sold on the West Coast at $170,000 was down a significant 24% as compared to a year ago and down on the prior month. The asking price expectation of new listings though was up a 9% as compared to a year ago at $263,098.

The level of new listings coming onto the market in October at 100 fell slightly as compared to prior month and was down 19% as compared to a year ago.


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