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Sales of lifestyle properties take a dip but prices stay firm, REINZ says

Property
Sales of lifestyle properties take a dip but prices stay firm, REINZ says
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The number of lifestyle blocks sold throughout the country dipped by 13.5% in the three months to July compared with the same period last year, according to the latest REINZ figures.

There were 1548 lifestyle properties sold around the country in the three months to July, compared with 1790 in the same period of last year.

Over the same period the national median price of lifestyle properties rose by 7.5% to $525,000, from $488,500 in the three months to July last year.

"Reports from around the country indicate a mixed bag in the lifestyle sector, depending on the severity of the winter being experienced," REINZ rural spokesman Brian Peacocke said.

"Overall, sales volumes and prices have been reasonably consistent, with a slight increase in prices and a modest decline in volumes."

Northland, Auckland, Waikato, Taranaki, Manawatu/Wanganui and Wellington all experienced slightly increased volumes, and although volumes were also up in Canterbury, the latest feedback from the mid to lower South Island indicated a tightening in the market, the REINZ said.

There was also increased caution among buyers in the better performing northern regions, with an increased emphasis on due diligence investigations underpinned by a clear focus on schooling options.

REINZ Lifestyle Property Sales
Three months to July 2014
Location Median Price $ Number of Sales
Northland 350,000 140
Auckland 897,500 355
Waikato 486,500 190
Bay of Plenty 518,750 120
Gisborne 255,000 16
Hawkes Bay 560,000 48
Taranaki 430,000 55
Manawatu/Wanganui 346,000 120
Wellington 500,000 73
Nelson 550,000 69
West Coast 200,000 14
Canterbury 527,500 206
Otago 440,000 97
Southland 390,500 44
New Zealand Total $ 525,000 1,548

Lifestyle volumes sold - REINZ

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