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New Zealand market looking good for 2012 | 20 February 2012

New Zealand’s property market is shaping up for a healthy 2012 if figures from the previous year are anything to go by.

A 9 per cent rise in properties being sold in 2011 shows that the market is currently in the best shape it has been in the last five years, while the average asking price for properties – NZD417,740 – remains steady with only a 1 per cent drop.

The selling of a total of 61,269 properties in 2011 “represented a modest 9 per cent growth as compared to 2010,” claims Alistair Helm, the director of the Real Estate Institute of New Zealand (REINZ).

“The word modest is most appropriate when the volume of sales is viewed against the perspective of the past 20 years. 2011 was much improved from both 2008 and 2010 which represented the lowest sales volumes of the past 20 years, barely struggling to reach half the sales volumes of the peak years of 2002 to 2007,” he added.

Furthermore, according to property insider Peter Thompson, now until late autumn will see new listings and sales numbers build, cites Property Community.

“Buyers and sellers are taking a measured approach and it will result in the market remaining stable and positive,” he explained.

Written by Ashley Curtis on behalf of Qube Global Software

While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.

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