SC house sales break all records

Thursday 13 May 2004

Auckland real estate buyers might be getting cold feet, but not so in South Canterbury where house sales have reached record highs.

By The Landlord

"We are being told by Auckland what is happening, but they don't know what is happening down here," local real estate institute president Roger Carter said yesterday.

His comments come in the wake of an ASB Bank survey which showed only 12 per cent expected house prices to rise in the coming year.

The latest figures available show 109 homes with a combined value of $15.6 million sold in Timaru during March, while a further 75 sold in other South Canterbury towns.

The March figure represented the largest number of homes sold in Timaru in a single month since the Real Estate Institute of New Zealand began keeping records in 1998. Those sales also had the greatest combined value of any month. In other parts of South Canterbury the median sale price reached $110,000.

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