| The national median house price reached a new record of $389,000 in December, up almost 10% on December 2011. Ongoing strong demand drove robust sales volume growth in the residential property market during 2012 with the number of sales up 21 per cent on 2011 and at the highest level since 2007.
The Chief Executive of the Real Estate Institute of New Zealand (REINZ), Helen O’Sullivan, says that despite the strong growth in sales volume, the number of sales compared to the total number of dwellings in New Zealand remains well below the long run average and substantially below the peak volume of 2003 when more than 120,000 residential properties were sold.74,000 houses sold during 2012, a 21% increase on 2011 and the highest annual total since 2007 (Press Release)
|