A sudden drop in mortgagee sales in Otago and good
November house sales statistics show there is some confidence
in the market, real estate spokesmen say.
Figures from Terralink International show there was a 28%
decrease in mortgagee sales in Otago when comparing
third-quarter data with the previous quarter.
In the first quarter there were 38 sales in Otago, in the
second 36, and in the third 26.
The largest decrease was in Queenstown where sales dropped
from 21 in the previous quarter to 10 in the third quarter,
which ended in September.
In Dunedin, mortgagee sales had gone up by two, while Waitaki
stayed on two and Clutha had one.
Real Estate Institute of New Zealand (REINZ) Queenstown
spokesman Kelvin Collins said the figures were showing the
market had stabilised with most mortgagee sales the
''clean-up'' of developers who got caught in the economic
downturn three years ago.
''We're pretty much back to [a] standard normal market.''
Good November sales figures had also boosted that impression
and if December sales were on par, he was predicting an 18%
lift in sales for 2012.
''We've got investors and the holiday home market back, soits
looking like we're back to normal.''
REINZ Dunedin spokeswoman Liz Nidd said it was a similar
picture in Dunedin although she had two mortgagee sales come
across her desk just before Christmas.
''I think it's just coincidental.''
November sales figures for Dunedin were up 30% on the year
''We've had our best year ever, better than good times in
'06. I think confidence has increased dramatically.''