Hawke's Bay residential real estate prices have recovered from a dip in January with increased volume of sales continuing, according to figures from REINZ.
The Hawke's Bay median sales price was $284,250 in February, compared with $272,500 in January. In February 2012 it was $287,750.
Sales volumes in February increasedmore than 9 per cent on the same time last year. Napier increased 16.5 per cent and Hastings 11.3 per cent.
The median price increased by $11,750 (+ 4.3 per cent) compared to January , with prices in Hastings easing by almost 5 per cent after rising by more than a quarter in January. Compared to February 2012 the median price eased by $3,500 (-1.2 per cent) with prices easing in rural areas, but firming in the cities.
The median days to sell for Hawke's Bay improved by three days compared to January, from 60 days in January to 57 days in February. The number of days to sell also improved by two days compared to February 2012. Over the past 10 years the median number of days to sell for the Hawkes Bay region in February has been 50 days.
QV's Residential Price Index for February, which averages prices over three months, showed property values in Hastings were up 2.6 per cent on last year and, on average, 6.1 per cent below the peak of April 2008.
The national median house price rose to $382,000 last month - $12,000 more than January but $7000 below the record of $389,000 set in December.
