Turnover still dropping: REINZ
It has released its latest monthly statistics, showing there were 7315 sales in March, down 10% on the same month in 2013.
March is often the busiest month of the year for house sales.
The national median price reached a new record of $440,000, up more than $40,000 on March 2013. Auckland had another record high median of $637,000 and Canterbury also recorded a new high, of $401,000.
REINZ chief executive Helen O’Sullivan said the price increase could be because of the dominance of Auckland and Canterbury in the market and a noticeable shift towards sales of higher-value properties. Just over 8% of sales were for more than $1 million in March, up from just over 6% in March 2013.
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