Provincial and coastal markets picked to improve
Harcourts New Zealand chief executive Bryan Thomson says compared to the dark days of 2008, there has been significant improvement in the residential real estate market in the major metropolitan centres this year.
"There has been a marked increase in the volume of house sales and prices have been positively impacted in recent months by the imbalance between supply and demand, however overall sales numbers in most locations remain below historic averages."
He says provincial centres have not been as buoyant as the cities, partially because the rural economy has slowed and as a consequence of the financial environment.
"Property investors appear to have been more cautious about provincial locations in the last year, while the volume of farm sales dropped right off and demand for coastal property lowered too."
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