New records for residential real estate market
April sees new records for residential real estate market - Real Estate Institute The New Zealand residential property market hit new highs in April despite lower turnover, according to the Real Estate Institutes’ National President, Mr. Graeme Woodley.
Friday, May 23rd 2003, 12:50PM
by The Landlord
Mr. Woodley said the national median price has risen to $203,000, up $3,000 from last month and $14,000 up on last year, despite the fact that the national sales volume eased to 9,047 compared to last months record breaking sales of 10,747 and sales of 9,224 in April 2002...“What this indicates is a few regional ‘blips’, but overall the market appears very solid and clearly there is a lot of capital flowing into residential property, both from occupiers and investors.”
The April 2003 national median of $203,000 when compared with the April 2002 figure of $189,000 – showed an increase year-on-year of 7.4 per cent.
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