House sales up, prices flat

23:40, Feb 11 2013

House sales across the Waikato/Bay of Plenty region last month were 18.5 per cent up on January last year, but prices remained flat, says the Real Estate Institute.

All parts of the wider region posted rising sales numbers apart from Waikato country areas and eastern Bay of Plenty.

Latest REINZ figures show 183 houses sold in Hamilton city last month compared to 133 in January last year.

The median residential property price in Hamilton last month was just $5000 up on January last year at $320,000.

The median price across the wider Waikato/Bay of Plenty region last month was $312,500, compared to $305,000 the same month last year.

Across the wider region 684 properties were sold last month. In January last year the number was 577.


In Waikato country areas the median price fell $10,000 last month to $260,000, compared to January last year when it    was $270,000. REINZ said 109 residential properties sold last month, just one more than in January 2012.

In Taupo, the median sale price last month was $325,000, $15,000 up on the same month last year.

Lodge Real Estate managing director Jeremy O'Rourke said the median time to sell a Hamilton home last month was 41 days, compared with 34 days in

December and slightly down on January 2012's 45.

He said total house sales for January reflected the recovery in the city market.

The suburbs of Hillcrest and Hamilton East experienced higher than usual sales activity, he said.

Normally sales in these two suburbs represented around 8 per cent and 6 per cent of the city's total sales respectively. Last month sales lifted to 10 per cent in Hillcrest and 8 per cent in Hamilton East, he said.

But Rototuna saw a fall in the northern suburb's usual January share of sales.

Usually house sales here represented around 16 per cent of total city sales in any given month. Last month they fell to 12 per cent.

O'Rourke said the dip was mainly due to the lack of homes on the market.