Real estate in `great shape'

Monday 27 December 2004

Southland's real estate market showed no sign of slowing, with November one of the best months on record, an industry spokesman said.

By The Landlord

The median price for a residential property in Southland rose by more than $20,000 to $142,000 last month.

Real Estate Institute of New Zealand Southland branch spokesman Tony Jenkins said early results for December indicated it would be much of the same this month.

"I can see this market carrying on the way it is," he said.

"It's still very affordable buying."

With summer a traditionally strong period, Mr Jenkins said the market was in great shape.

However, he warned there was a shortage of good listings in the market.

Last month, 331 houses changed hands, up from 278 in October.

The good sales could be put down to a buoyant economy, Mr Jenkins said.

"This year would be one of the best," he said.

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