The number of sales in December and January lagged behind the levels of the previous year as bad weather encouraged Wellingtonians to stay longer on holiday in warmer regions and uncertainty over the state of the economy and any tax changes dampened buying enthusiasm. This decrease in turnover echoes the market nationwide.
The average sale price dipped slightly in January but average prices are still well above the last couple of years.
The average time on the market spiked in January to 38 days on the back of lower turnover and a quiet selling period.
February 12 2010 | General Real Estate and North Wgtn House Market Trends | No Comments »
The latest stats released this week by reinz.co.nz show continued improvement in the North Wellington Market. Prices have firmed quickly in May to set a new record median on the back of three months of good sales activity in which we have seen a clearing out of much of the stale stock left over from Summer and vigorous competition for new well presented homes entering the market. The average time to sell has fallen below 30 days for the first time since Feb 08 and will show further falls if the current activity in the market place continues through the rest of June. I don’t need to say anything more but will let the stats speak for themselves.
Click on the graphs to zoom in for a better look.
The rental info above has been summarized from the tenancy services website. It is for Johnsonville and Newlands which I find gives a good estimation of fair market rentals for the other surrounding suburbs except for Khandallah/Ngaio. You can go to their website and print out rental stats for any suburb in the country.
June 12 2009 | North Wgtn House Market Trends | No Comments »
