New house sale figures released recently by the Real Estate Institute of New Zealand show March sales were down in the Wellington region, which includes Wairarapa.
New house sale figures released recently by the Real Estate Institute of New Zealand show March sales were down in the Wellington region, which includes Wairarapa.
The Wairarapa first home buyer market has almost "dried up", says a Masterton agent.
New house sale figures released recently by the Real Estate Institute of New Zealand show March sales were down in the Wellington region, which includes Wairarapa.
Sales dropped to 753, down 9.5 per cent from 832a year ago, while the median price rose 1.4 per cent from $394,500 to $400,000.
REINZ chief executive Helen O'Sullivan said there were "clear signs" the national number of sales had eased since November, following the introduction of Reserve Bank home loan lending restrictions in October which restricted lending for those with a deposit of less than 20 per cent.
National median prices soared 10 per cent in March to a record high of $440,000, while the number of houses sold fell to 7315 from 8128.
The REINZ figures follow the release of a report by state valuer Quotable Value showing home loan approvals and sale numbers were down nationwide.
A further report by Harcourts showed the average March sales price for Auckland and Northland properties jumped to a record high of $697,454, potentially squeezing first home buyers out of the market.
Wairarapa Professionals Patrick and Scott principal Andy Scott said some higher valued properties had sold across Wairarapa but there had been fewer low-priced sales - typically the domain of first home buyers.
