Total sales declined last quarter, but increased compared to same period in 2018
Sales of lifestyle properties remained volatile, recent figures from REINZ revealed.
Recent data from REINZ showed that there were 96 less lifestyle property sales for the three months ended September 2019 than for the three months ended August 2019, representing a 5.4% drop. However, there were 1,650 overall lifestyle property sales last quarter compared to 1,604 sales for the same period last year – an increase of 2.9%.
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REINZ also reported that the median price for all lifestyle properties sold in the three months to September 2019 was $700,000 – roughly $56,500 higher compared to the same period last year. Meanwhile, the median number of days to sell for lifestyle properties was two days longer in the three months to September 2019 than in the three months to September 2018, sitting at 73 days.
“As noted in the sales data just released for the three month period ending September 2019, sales volumes reflect a degree of volatility with total sales being down to quite an extent compared to the last three month period, ahead of 12 months ago but again, down to a reasonable degree when measured against the equivalent period two years ago,” said Brian Peacocke, rural spokesman at REINZ.
