The Real Estate Institute residential July statistics for Feilding showed that the volume of house sales was 33 which is the best since November 2009, and is at the long term average for the last 8 1/2 years. In addition we sold 5 sections at Mt Taylor. The average for the last 6 months is 27, which is better than the 21 average for 2010.
The Feilding residential median calculated over 3 months is now $240,500
This compares to Palmerston North $276,000, Rangitikei $120,000, Wanganui $153,000, Levin $181,500, NZ $350,000, Queenstown $511,250, Bluff $121,000 and Eastern Suburbs Auckland $766,000.
Feilding is thus affordable and part of the greater Manawatu positive market of 110,000 people including Palmerston North. Our Feilding median is usually $30,000 – $40,000 below PN, and $100,000 below NZ.
It is great to see so many first home buyers out looking and buying. Property is so much more affordable than 3 – 5 years ago. Interest rates are now very low, and property prices are lower than 3 – 4 years ago.
Kind regards, Michael