NEW ZEALAND LARGER CITIES
Comments: Only Dunedin achieved an increase in sales in October. All other major cities suffered a decrease ranging from -26% to -1%. Maybe Graeme Wheeler policies are having an affect.
Comments: I thought it was interesting to note how the ‘booms’ and ‘busts’ in the housing sales market have followed a reasonably consistent pattern since 1995. A high in 1995 dropping in 2000, five years later, to a low. Three years later a high again in 2003. 7 years later 2010, another low and then another trend upwards followed by a drop in October this year . Maybe we shouldn’t take too much notice of this. With any luck it’s just a hiccup and the upward trend will come back in November and continue on, healthily, in the right direction.
HAMILTON FOR THE MONTH OF OCTOBER 2013
Comments: Although there was a steady rise in sales from February through to May the market seems to have settled over the last few months. October 2013 about 2% down compared with October 2012.
Median sale prices have increased over the last 12 months showing an increase of nearly 7% in October 2013 over October 2012.
Comment: There has been extensive drop in the number of houses sold in Hamilton from October 2003 to October 2013. in fact 85 %. The lower number sold the longer it has taken to sell them, in most cases.
The Median Sale price in October 2013 around 50% greater than October 2003.
HAMILTON SUBURBAN BREAKDOWNS
Comment: The number of sales in each suburb are consistent in that the top 4 keep holding their place. Likewise with median prices.