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Review of the property sales market in the Motueka area for April 2011
April 20
By Alan Atkins, Ray White Motueka
[Editor's note: Ray White Motueka is the Principal Sponsor of Motueka Online, and one item of assistance it provides is a regular, general update on the state of property sales in the area. The reports do not contain any promotion of Alan's company, but are provided purely for informational purposes]
The national housing market recorded a strong seasonal lift in volumes during the month of March with an accompanying modest rise in the level of prices, according to REINZ figures.
Across New Zealand a 29.9% increase was recorded over February, and an increase of 32.2% when Canterbury/Westland figures are excluded from both totals. The national median price increased by $15,000 to $365,000 from February 2011, and by $4,500 compared to March 2010.
Nelson/Marlborough was the only region other than Auckland to record a stronger lift in volumes compared to the national result, with Nelson City leading the way with a 48% lift in volumes compared to February 2011. However, compared to March 2010, volumes across the region were weaker than the national result.
In a reversal of last month's result, the days to sell for the region increased whereas as the days to sell for all other regions fell.
Closer to home the Motueka area reflected the regional trend with property sales numbers up on January and February. On average properties in the wider area sold a little under their 2008 capital values while in the Motueka residential area they sold a little above.
The average days on market for a property to sell were longer than last month. This appears due to a number of properties selling that had been on the market for some time, indicating that we sold proportionally more properties than were listed when compared with the previous month.
[Statistics quoted in this article are sourced in-house and from REINZ, while we endeavor to keep the figures as accurate as possible they cannot be guaranteed.]
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