RESIDENTIAL SALES CONTINUE TO DIVE
Residential sales dropped 36 per cent last month to 4,678 from 7,391 in July last year - the lowest for the month since 2010.
The latest REINZ data shows month-on-month this was a drop of 4 per cent. Moving from June to July, the seasonally adjusted figures show a decline of 3.5 per cent.
All regions had an annual drop in the number of sales. However, some regions saw a month-on-month increase.
The greatest annual percentage declines were:
• West Coast, dropped 54.9 per cent annually from 51 to 23
• Auckland, down 48.7 per cent annually from 2,767 to 1,419
• Northland, down 44.0 per cent annually from 243 to 136
• Waikato, dropped 43.5 per cent annually from 742 to 419.
‘Gisborne had the highest month-on-month bump upwards, followed by Hawke's Bay’
Gisborne had the
