Nelson April 09 House Sales Official Figures
REINZ report that Institute president, Mike Elford, was particularly pleased with April 2009 figures as April is traditionally a slower month due to school holidays and seasonal adjustments.
April sales figures released earlier this week by REINZ point to a degree of price & volume stability returning to what has been a volatile time of late, and hint at a level of confidence returning to residential real estate.
He continued “Turnover of housing continues to strengthen from last year’s figures although slightly down in April 2009 compared with March totals.” but cautioned “The figures are not hugely significant, but enough to generate a degree of optimism about the way forward from here”
April’s REINZ report stated
The median price for homes across New Zealand for April 2009 continues the slow steady growth recorded over the past few months. February’s $330,000 median figure rose to $335,000 in March and again to $340,000 in April.
In Nelsons case the figures are Feb $320,000 median down to $317,000 in March and down again to $295,500 in April. The plethora of sub $350,000 housing sold would tend to encourage this trend.
Interestingly this above slide coincides with Nelson being off the pace as far as a percentage of national sales by a considerable margin, going from 1.45% of National Sales in Feb down to 1.4% in March and a big drop to 1.06% in April.
(GRAPHIC ABOVE – QV.CO.NZ)
And just like I reported about the March 09 sales figures, Nelson again saw 65% of the homes sold, in the under $350,000 zone, adding credence to the suggestion that this is the level where finance is currently most accessible, for both home buyers & investors.
You will notice I have added a line to the chart which depicts the percentage of asking price achieved as a median.
REINZ data for Nelson
Compared to 109 homes sold in March 2009, and 60 in April 2008, April 2009’s result of 75 houses sold is trending down. The median price for a Nelson Council zone house was reported by the Institute as “relatively steady” at $320,500 in April (March 2009: $320,000; April 2008: $333,000).
Volume wise for Nelson Council zone houses was 142 houses sold, vs 184 in March 2009 as compared to 109 in April 2008.
SOURCE – REINZ / Quotable Value NZ
May 17 2009 | Buyers and Nelson and Sellers | No Comments »
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