|
New Zealand's Residential Property Prices Fall In December
Real estate news By RTT News
1/16/2008 1:33:29
The national median sales price in the New Zealand's residential property market stood at NZ$345,000 in December, down nearly 2% from NZ$352,000 registered in November, the Real Estate Institute of New Zealand, or REINZ, said Wednesday.
On a year-on-year basis, residential property prices rose 4.54%. This compares to 11.86% increase recorded in the same period of the previous year. In December 2006, the national median sales price was NZ$330,000.
Fewer sales in December were expected due to the holiday break, especially in a market that had witnessed strong growth in the past seven years, the REINZ National President Murray Cleland said. Across the nation, 5,597 properties were sold in December compared to 7,837 in November, and 8, 245 in December 2006.
Send tips or a Letter to the Editor to editor@updatere.com
|
