11 Jun 2009

House sales volumes up

9:37 pm on 11 June 2009

The Real Estate Institute says its latest sale figures show stability is returning to the property market.

The institute's figures show almost 6,300 homes were sold in May, up marginally on the number sold in April.

But volumes are up almost a third on the 4,372 homes sold in May last year.

The median house price was $337,500 in May, slightly lower than the $340,000 recorded in April and down about 2% on May last year.

It took on average 42 days to sell a house in May, which is on par with April and faster than the 49 days it took in May last year.