Real estate sales review from Palmerson North’s has some positive information as the house prices were strong during April.

If Quotable Value is taken into account then an average house in city is worth 10.2 per cent less than at the same time last year. However it should be noticed that it came as an improvement from an 11.3% annual decline for the March quarter.

The first solid proof of an improvement in the residential property market was provided by the figures.

It would be worth mentioning that the average city sale price in the three months ending April was $273,397.

Furthermore recovery in Manawatu District residential property values was also witnessed from a decline of 10.8 per cent in the March quarter to 10.2 per cent at the end of April.

It should be noted that changes in house values across the months is measure by the Quotable Value, comparing those values with the same period the previous year.

A slight improvement in house value nationally was seen from 9.3 per cent in the March quarter to 9.2 per cent in the quarter ending April.

Quotable Value reported, “The national average sale price dipped from $378,399 in March to $372,981, reflecting more sales at the lower end of the market.”

(Via TopNews New Zealand. Contributed by Manish Verma)