Bay property sales down

The number of houses sold in the Western Bay of Plenty last December is slightly less than in the previous month, according to figures released by the Real Estate Institute of New Zealand.
In December, 53 houses were sold in the Western Bay compared with 58 in November.

The median price for a house in the region also dropped; from $377,750 in November to $365,000 in December.
There were 95 houses sold in Tauranga in December – down on the 114 houses sold in November.
The median price of houses in the Mount Maunganui and Papamoa area increased to $440,000 from $407,000 in November.
Real Estate Institute of New Zealand president Peter McDonald says New Zealand's appreciating property market is fuelled by a shortage of properties for sale, but is looking optimistic for 2010
'House prices have definitely stabilised and appear to be slightly gaining, which is a positive sign.
'The median house price for December 2009 was up 1.4 per cent on the previous month, so while the median price for December 2009 was a record high for that time of the year it's a case of steady as it goes.”

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