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Sector information summarises trends and developments in the building and housing sector. 

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Housing market activity

Updated: 20 November 2009

Volume of house sales up compared with the same time last year since March 2009, and houses are taking fewer days to sell since April 2009

Overall house sales activity was up by 36.3 percent in October 2009 and 43.7 percent in September 2009 compared with the same months last year. As Figure 12 indicates, this increase in activity was driven by a large increase in activity in February 2009 and March 2009, when number of sales per month increased from 3,706 in January 2009 to 6,694 in March 2009.

Figure 12: Residential property sales (to September2009)

Figure 12: Residential property sales (to September 2009)

Source: Real Estate Institute of New Zealand

Figure 13 shows that the median time taken to sell a property in October 2009 was 31 days, shorter than the 47 days it took in October 2008. Since April 2009, the monthly days to sell figures have been shorter than for the same month in the previous year.

Figure 13: Days to sell a residential property (to September 2009)

Figure 13: Days to sell a residential property (to September 2009)

Source: Real Estate Institute of New Zealand