PHOTO: Bindi Norwell expects the housing market to pick up again soon
Reports of house sales falling away may be overstating the market slowdown, bank economists say.
Real Estate Institute data shows outside Auckland, turnover was down 3.3 per cent last month compared to the same time the year before. In Auckland, it dropped 2.1 per cent, year-on-year.
The 5506 properties sold was the lowest number for any September since 2011.
Northland’s turnover dropped 21.9 per cent, Gisborne 21.7 per cent, and West Coast 18.9 per cent. All of those regions recorded sales rates usually seen during the Christmas and January break.
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