Turnover dropped in December: REINZ
In December, there were 5688 residential sales, down 1.1% on the same time in 2012 and a drop of 18.3% compared to November.
The national median price increased $2000 compared to November to $427,000, a new record median high. Waikato/Bay of Plenty, Manawatu/Wanganui, Taranaki, Nelson/Marlborough and Canterbury/Westland all recorded new record high median prices.
REINZ chief executive Helen O’Sullivan said: “The softer trend in sales noted in November 2013 continued into December. The shorter selling month in December means that a drop from November sales volumes is a normal part of the seasonal pattern; however, the 10-year average fall is 13.6%, while this year sales volumes have declined 18.3% from November. While a small number of regions bucked the trend, other parts of the country recorded significantly greater falls in volume than the national figure.”
She said some regions might have reported higher median sales prices because fewer sales were taking place in the lower price bands.
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