12 Mar 2010

House sales fall

9:15 pm on 12 March 2010

The latest house sale figures suggest investors are sitting out the property market while they wait to see the effect of proposed tax changes.

The Real Estate Institute says the number of houses sold in February fell about 3% on the same month last year, to about 5000.

ASB Bank economist Jane Turner says uncertainty over the government's plans to change the tax treatment of housing may be making investors uneasy.