House prices up $9,000 in October
The national median house price rose to $359,000 (2.6%) in October compared to September and is also $9,000 higher than the October 2010 value.
October saw 5,007 unconditional sales, up 1,104 sales (28.3%) compared to October last year. The October figure is 228 lower than last month (4.4%), however on a seasonally adjusted basis volumes are almost flat with a 0.5% drop.
"The volume figures for October suggests that the spring 'lift' widely expected in the real estate market has been muted, but so too has any impact from the Rugby World Cup and European uncertainty," said REINZ chief executive Helen O'Sullivan.
"Volumes are up strongly compared to this time last year, but that in part reflects a very weak October 2010 when sales volumes were amongst the lowest in the past 20 years."
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