Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ property sales fall 4.3% in January, median price slips

NZ property sales fall 4.3% in January, median price slips from record high

Feb. 14 (BusinessDesk) – New Zealand property sales fell 4.3 percent in January from a year earlier while the median price slipped from the record high set in December, which may reflect high loan-to-value lending restrictions and seasonal factors, the Real Estate Institute says,.

There were 4,719 dwellings sold nationally in January, down from the same month last year and a 17 percent drop compared with December, the institute said in a statement. The national median price fell by 5.8 percent to $402,000, having reached a record $427,000 in the previous month.

“The softer volume result continues a pattern that began in November and continued in December,” said REINZ chief executive Helen O’Sullivan. “Market feedback suggests that first home buyers may be tentatively returning, with some assistance, to certain markets.”

The stratified housing index, which looks to smooth out peaks and troughs and is the preferred measure used by the Reserve Bank, fell 2.4 percent from December to 3,756.3 and is up 7.7 percent from January last year.

Days to sell rose by 11 to 43 in January from December and increased by two days from January 2013. The total value of residential sales, including sections, fell to $2.33 billion in January from $3.07 billion in December, and was up from $2.24 billion in the same month last year. In the 12 months ended Jan. 31, sales were valued at $40.20 billion.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news