Slow month cuts median house price
Monday 23 February 2004
Housing statistics showing a $2000 reduction in the national median last month were yesterday attributed to a slow spell and more lower-priced sales.
By The LandlordReal Estate Institute president Graeme Woodley said January was traditionally a difficult month, interrupted by the holiday season. High-priced property deals had dropped off, compounding the situation.
The national median sank from $229,000 in December to $227,750 last month. Auckland City's median fell from $396,750 to $364,000. Prices were also down in Hamilton, Wellington and Christchurch.
Woodley advised people to wait for the February or March figures before drawing conclusions about the market.
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