House sales rise

Dunedin house sales in November were 25% up on October sales, with 204 properties selling during the month.

The total value of sales in Dunedin was about $58 million, although the median sale price was down from $259,500 in October to $236,000, REINZ Otago president Liz Nidd said yesterday.

Houses took an average of 29 days to sell.

"It remains critically important for sellers to be realistic in the pricing of their property and their expectations," Mrs Nidd said.

"The caution from the banks in terms of their lending criteria is still evident."

 

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