House sales in Wanganui are down on a year ago, but burgeoning interest from British and Chinese buyers is expected to give the market a boost, a local real estate agent says.
Latest Real Estate Institute of New Zealand (REINZ) figures show the median Wanganui house price in July dropped $42,500 year-on-year to $147,500, while July house sales slipped from 55 to 47.
LJ Hooker Wanganui agent Sue Ellis said buyers were being careful ahead of the election.
"People are cautious about what's going to happen with interest rates."
The median price drop could be explained by increased sales in the lower price bracket, including former Housing New Zealand properties.