The April statistics showed a drop in volume of residential properties sold through all Real Estate Agencies in Feilding in April. The number dropped to 23 in April after 2 strong months at 35 in February and 32 in March. Palmerston North dropped from 141 in March to 79 in April.
Our residential median is holding up well at $251,500, which is still higher than expected, and closer than usual to Palmerston North’s at $264,500. Both are assessed over 3 months.
Levin’s median is well below ours at $169,000, and similarly Wanganui’s at $271,250.
Readers need to clearly differentiate provincial New Zealand’s residential real estate market from Auckland’s and Christchurch’s. There is a far more buoyant market in those 2 large cities, with value increases that are not happening here.