Few people buying houses in Northland

Despite national house prices rising last month, the median price for Northland homes fell almost 12 per cent to $292,000. It brings the median to its lowest point since June last year.
There were 98 sales in the region last month, down from 122 in March. Real Estate Institute figures show sales reached double figures only in Kerikeri and Whangarei City.
An institute report yesterday said the volume of sales in Northland last month was the lowest for any April in almost 20 years.
Prices were stable in the city, with the $274,000 median for the 54 sales in April only 0.4 per cent down on the $275,000 median for 63 homes sold in March.
Kerikeri was more indicative of the regional position with its $387,500 median for 14 sales in April 16.7 per cent down on the $465,000 median for 16 sales in March.
Northland remains the region requiring the most "days to sell" (measuring the number of days from listing date to unconditional date). It was 73 days last month, but this was a 21-day improvement over the March measure of 94 days. The national median "days to sell" eased from 41 days in March to 43 last month, compared to 40 days in April last year.
REINZ spokeswoman Marilyn Gammon said it was a buyers' market in Northland.
She had been talking to Kerikeri agents who said there was a shortage of listings because vendors knew prices were low. Paihia agents had told her a "fair few" apartments bought off plans at the peak of the property boom were now going in mortgagee sales at half the original expectations.
"They have a large supply of listings there [at Paihia] but buyers are scarce."
The institute noted there appeared to be some nascent interest in coastal properties and agents reported some older stock was now being sold as vendors met the market.
There were 4987 unconditional sales reported across New Zealand last month as the market came off the traditional March peak.
The national median house price last month eased by $5000 to $360,000 from March, but was up $4000 on April last year.
The Section Price Index fell 8.1 per cent in April and is now 23.1 per cent below its peak recorded in July 2008. The Northland section median last month was $157,500.
But a Quotable Value (QV) residential price movement report lists the average sale price for Whangarei in April as $335,855, down 5.2 per cent on March, with the Far North average $330,058, down 10.2 per cent on March. QV research director Jonno Ingerson said QV included private sales - typically 10-15 per cent of all sales - not just sales by real estate agents.