The median purchase price for property is massively down in the Western Bay of Plenty for September compared with August according to the latest statistics from the Real Estate Institute of New Zealand.
The figures are calculated across three month periods with the third month giving its name to the period.
In Western Bay country the median purchase price dropped in September to $359,000 from $420,500 in August. This is also down from the median of $385,000 in September 2009.
There were more sales in this period, however, with 55 made in Western Bay country compared to 44 in the August period.
The median price for a house in Mount Maunganui/ Papamoa continued to fall and was $377,000, down from $405,000 in August and $412,000 in July, but slightly up on the September 2009 median of $378,000. Sales were 54 compared to 47 in August. but are down on the 81 sold in September 2009.
In Tauranga, the median price fell to $328,000 from $353,500 in August and is down on the September 2009 median value of $354,000. Sales of residential properties remained steady at 77 last month compared to 78 in August, but were still well down on the September 2009 figure of 130.
1 comment
prices low
Posted on 18-10-2010 12:17 | By tauranga_toro
probably due to the fact that councils have massively dropped the values! People look at the GV and won't pay much more than that, so for those who have to sell, the price has to drop accordingly. My GV has dropped by 6% this year, yet my rates have gone up 10%???
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