Official REINZ figures have just been released for March 2009 House Sales.
They show an improvement on February 2009, and prompted Institute president Mike Elford to say “while the figures in terms of sales volumes, prices and days to sell are cause for cautious optimism it is too early to predict recovery.”
And undoubtedly in light of the figures reported Dec08 through Feb09, “the March results show a significant return to healthier numbers, however we also need to be mindful we are now coming into a period of seasonal drop off in sales.”
Nelson exception again……….
The REINZ report goes on “The median price for homes across New Zealand at $335,000 for March 2009 is slightly up on February’s $330,000 and on a par with the March figure from 2007 of $343,500 but down on the comparable period in March 2008, $349,000, equivalent to 4.01 per cent
With the exception of Taranaki and Nelson/Marlborough, which rose by 1.77 per cent and 1.58 per cent respectively, and Manawatu/Wanganui which remained the same, prices dropped in all districts from between 0.57 per cent in Auckland through to 9.37 per cent in the Central Otago Lakes District in March 2009 compared with March 2008.”
(GRAPHIC ABOVE – QV.CO.NZ)
These figures need to be read whilst considering the fact that we had a very robust month locally in that 64% of the homes sold were under $350,000, the detail of the makeup shown in the graphic below.
REINZ data for Nelson
Compared to 86 in February 2009, and 70 in March 2008, March 2009’s result of 109 houses sold is trending up. The median price for a Nelson Council zone house decreased to $320,000 in March (February 2009: $330,000; March 2008: $338,000).