Property Sales Figures for October 2011


Courtesy of the Unconditional Blog and their Property Pulse Factsheet, property sales showed a slight fall for October from 5,235 to 5,007, but were still, encouragingly, 28% ahead of sales this time last year (when things were, to put it mildly, incredibly bleak on the property front).

Sale time was slightly down, and mean prices 3% up from a year ago.

The only negative indicator was listings…there were 5% more last year in October than this.

Well worth checking the relevant provincial indicators as they can differ significantly from the national trend: for example, Northland property sales in October are below last year’s monthly total and mean price is 7% down with a big backlog of unsold property (possibly more in the rural areas than urban)…quite a different picture.

On the other hand, listings are increasing..but without corresponding sales, unsold inventory is simply being increased.

A useful resource for investors.

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About Ivan McIntosh

I am a partner of Carter Atmore Law...residing in City Road just off the busy thoroughfare of Symonds Street, Auckland, New Zealand....where we are specialist business & property development lawyers, working for both local and international clients. Proud husband to Joanna, and dad to two sons. Passionate rugby supporter. Email: imcintosh@calaw.co.nz Ph: 64 9 921 5026
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