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House sales lowest for a decade
 July's residential property sales were the lowest for that month in ten years according to figures released today by the Real Estate Institute of New Zealand (REINZ).However, while the number of sales was at a decade-low, prices in Auckland, Wellington and Christchurch were still up on last year. Peter Thompson at REINZ said: "We are seeing a similar pattern to last month with sales volumes down but prices remaining stable in contradiction of predictions of a falling market. "Good sales are still being made and properties priced right are attracting a lot of attention and are selling." Nationwide sales slipped from 4,575 in June to 4,411 last month. They were still higher than the record low of only 3,666 dwelling sales last January. The highest ever number of residential property sales in a July month was 10,150 in 2003. Nationwide prices also fell in July 2010 as measured by the REINZ Monthly Housing Price Index. The index shows a 1.2% drop in July from June and in the three months to July, the index decreased by 1.1%. http://tvnz.co.nz/business-news/house-sales-lowest-decade-3699389 |
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