House prices hit record high but sales slip
Tuesday 19 October 2004
The national median house price has risen from $247,000 to a record $250,000, but the number of houses sold has dropped significantly, the Real Estate Institute says.
By The Landlord
Rising interest rates are being blamed for dampening the market.The latest figures show that 7854 homes were sold last month, 36 per cent down on the 10,687 sold in September last year.
The biggest fall was in houses worth less than $400,000.
The number of these sales dropped from 9046 in September 2003 to 6336 last month.
Hawke's Bay was one of three regions in the country where prices weakened during the month. The region's median sale price fell from $211,500 in August to $196,100 last month.
Read More - Opens in a new window
Commenting is closed
House Prices
No stopping Capital price rises
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Commercial
NZ proptech start-up scores major investor
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
