The Feilding median sale price calculated over 3 months now sits at $244,000. This shows a slight and expected drop from the last few months.
Feilding compares with Palmerston North on $271,000, Levin on $170,000, Wanganui on $180,000, and New Zealand overall on $369,000. Feilding and Palmerston North are above the average of $227,000 for the Manawatu/Wanganui Region.
The number of sales through all Real Estate Agents in Feilding for May lifted to a solid 30, after a disappointing 23 in April, which in turn followed 2 solid months at 32 and 35. Palmerston North saw a much needed increase from 79 in April to 112 in May, following 141 in March.
I would expect to see a firming of the Feilding median at around $240,000 over the next few months, as we traditionally sit at around $30,000 less than Palmerston North. The New Zealand median is increasing as a result of the buoyant activity in Auckland.
Feilding remains a good solid town to buy property in, and our prices are extremely affordable compared to most of the country. We have the advantage of being part of the Palmerston North or greater Manawatu market with over 110,000 people, compared to other stand alone towns with small populations.
Kind regards
Michael
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