Lower sales on NZ par

CHLOE WINTER
Last updated 09:43 24/06/2014

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Fifteen fewer houses were sold in Marlborough last month compared with May 2013.

The latest figures released from Real Estate Institute of New Zealand (REINZ) showed 71 houses were sold in the region, including the Marlborough Sounds and Kaikoura, in May 2014 compared with 86 in May 2013 - a drop of 17 per cent.

Blenheim's Mark Stevenson First National director and joint owner Owen Norrish said the region's figures showed Marlborough was on par with the national trend.

"Basically the general trend that we are seeing at the moment is a lesser number of sales in the marketplace, but overall, Marlborough is following the national trend.

"We have less stock on the market . . . [but that is] because it's winter so there are less homes on the market."

The figures also showed Marlborough's median house price rose, from $295,250 in May 2013 to $308,000 in May 2014.

"The price expectations are up a little on this time last year and we have had reasonably strong enquiries," Norrish said.

"There have been more overseas inquiries."

The median number of days to sell a house last month was 62.

The previous April median days to sell was 41. This year to date the median days to sell a house is 70.

Harcourts Marlborough principal Mark Davis said since the beginning of the year the number of houses that sold showed a downward trend - 71 in May, 78 in April, 85 in March.

Fewer properties on the market resulted in more demand, in turn driving house prices up, Davis said.

The seasonal slowdown was normal, he said.

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- The Marlborough Express

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