The stats don't tell the whole story
I thought it was time for an update on what’s been happening in our wonderful world of Upper Hutt Real Estate as it’s been a short while since I did. October showed a jump in sales to 62 dwellings, well up on the previous month but down from 72 in October 2017.
As is stands today, year on year 2018 is tracking a less than huge 17 sales up on 2017 (714 versus 697). These aren’t exactly massive numbers but they do not take into account land build packages which are in hot demand in The Wallaceville Estate and as any can attest driving past there must now be a hundred plus houses built that I feel should be added into the sales.
Just as an example of how the lack of information can skew the statistics, in September there were 96 sales registered individually but when the official report was released by the Real Estate Institute the figure reduced to 43, this is why I refer to dwellings as these are actually buildings/properties sold.
On a slightly different note, there were 4 residential properties that sold over one million dollars last month with more the month before, I have been following the stats for 15 years now and I don’t believe that I’ve seen as many million dollar plus sales in a single year than there have been in the last 2 months. If you’re looking for signs of price growth, there it is right there!
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