Bay houses fetch higher prices
A burst of activity from the region's property market has seen an increase in sales at a higher price.
Thursday, October 13th 2005, 7:35AM
by The Landlord
During August, 290 houses sold in the region at an average price of $253,750, according to figures released yesterday by the Real Estate Institute of New Zealand, compared to 269 in July, at an average price of $250,000. A year earlier, 274 houses sold in the region at an average price of $212,250.It took an average of 32 days for a house to sell in this region in August, down from 42 in July.
The Hawke's Bay figures are nearly $40,000 below the national median selling price of $290,000 for August, which is a record.
Last August's national median was $248,000.
Paul Harvey, president of the Hawke's Bay branch of the institute, said the market had picked up earlier than it usually does for the time of year.
"We did expect a quieter June, July and August, so I think it bodes well for the balance of the year. I expect sales will stay at this level," Mr Harvey said.
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