Boom in lifestyle block sales

The Auckland region is the most popular site, with the number of lifestyle sales jumping from 137 in April to 160 in May, though national figures were down slightly, from 725 to 715, the institute said yesterday.

The national median selling price rose from $285,000 to $300,000 but the median farm sale price slipped to $900,000 from $950,000. Institute spokesman Murray Cleland said the April figures had been distorted by the sale of several large farms and he was pleased to see the sector mostly held its ground in May.

"We are entering that time of year where the market tends to slow down. But we have more buyers than properties available at present and this factor alone will see prices remain firm in the coming months."

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