One Less House Sold in New Zealand In May 2010

15 June 2010

As winter approaches, it is traditionally a quieter time for New Zealand real estate sales. Surprisingly enough, only one less house was sold across the entire country in May 2010 when compared to April 2010. Residential property sales in May 2010 were 5,206 whereas 5,207 residential properties were sold in April 2010.

Latest figures released by the Real Estate Institute Of new Zealand (REINZ) show residential house prices across the country dropped 1.4 per cent in May 2010.


Prices are more than 5 percent under the 2007 high. However, in the 3 months up to May 2010, housing prices went up 0.7 percent.

The median house price of $350,000 in May was $6,000 below the April medium price of $356,000.

Figures for major urban areas were as follows:
Wellington - May 2010 was 4.4 per cent higher than May 2009.
Christchurch - an increase of 4.2 percent.
Auckland - an increase of 3.7 percent

In other centres the figures for residential real estate sales in May were:

North Island suburbs - a decrease of 0.4 per cent.
South Island suburbs - an increase of 2.5 percent.