Bad period for Tauranga property

Property sale prices and quantities are steady in the Western Bay country, Mount Maunganui and Papamoa areas, but down steeply in other Tauranga areas according to the latest figures from the Real Estate Institute of New Zealand.

In Western Bay of Plenty country, the median price rose from $367,500 in the three month period ending December 2010 to $392,500 in the just passed January period, and this is up on the median sale price of $361,000 for the January 2010 period.

From 46 in the December period, sales volumes remain steady with 44 in the January 2011 period – the same as the January 2010 period.

The median sale price for a house in Mount Maunganui and Papamoa eased from $410,000 in the December period to $406,250 in the January period, but this is up on the January 2010 median of $395,500.

At 44, sales are down on the 49 in December period, but up on the 40 sold in the January 2010 period.

In Tauranga, the median price decreased to $320,000 in the three month period ending January 2011 from $379,500 in the December period.

It is also down on the January 2010 period median sale price of $349,000.

Property sales decreased from 84 in the December period to 66 in the January period; also down on the January 2010 figure of 79.

4 comments

Reasons?

Posted on 15-02-2011 14:45 | By SpeakUp

Could it be that people think twice before they settle down in a filth-pit of debt with all the associated quagmires like ever rates, reduction of services and increasing difficulty to meet and maintain essential core services.


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Posted on 15-02-2011 23:36 | By Capt_Kaveman

everything is still way over priced


Rates a factor

Posted on 16-02-2011 07:57 | By grahamwood

Yes rates increases are a factor. Houseowners can only afford so much and our council seen to be oblivious to this. Its helping to kill growth in this area.


BAD ? REALLY

Posted on 14-03-2011 08:07 | By THE RING MASTER

PERHAPS THE OVER HEATED MARKET IS JUST MVING NOW TO REFLECT REALITY RATHER THAN A HYPO MARKET. WHAT EVER BUDGET COUNCIL HAD FOR BUILDING AND DEVELOPMENT FEES IT WILL BE CUT TO PIECES AND SOME


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