Sales of lifestyle properties take a dip but prices stay firm, REINZ says

The number of lifestyle blocks sold throughout the country dipped by 13.5% in the three months to July compared with the same period last year, according to the latest REINZ figures.

There were 1548 lifestyle properties sold around the country in the three months to July, compared with 1790 in the same period of last year.

Over the same period the national median price of lifestyle properties rose by 7.5% to $525,000, from $488,500 in the three months to July last year.

"Reports from around the country indicate a mixed bag in the lifestyle sector, depending on the severity of the winter being experienced," REINZ rural spokesman Brian Peacocke said.

"Overall, sales volumes and prices have been reasonably consistent, with a slight increase in prices and a modest decline in volumes."

Northland, Auckland, Waikato, Taranaki, Manawatu/Wanganui and Wellington all experienced slightly increased volumes, and although volumes were also up in Canterbury, the latest feedback from the mid to lower South Island indicated a tightening in the market, the REINZ said.

There was also increased caution among buyers in the better performing northern regions, with an increased emphasis on due diligence investigations underpinned by a clear focus on schooling options.