Otago's housing sector appears to be finishing the year with a more than 30% bounce to month-on-month sales, albeit with flat prices. Otago's $410,000 median price for November was unchanged from October but otherwise up 17% on November last year, data from the Real Estate Institute of New Zealand showed yesterday. ''The market is showing some signs of slowing as median prices in Queenstown and Wanaka are down slightly from October's figures,'' Mrs Hudson said. ASB economist Kim Mundy said the higher sales activity was providing some support to prices, but the activity was below recent highs. She predicted sales activity and price growth in 2018 would ''remain subdued'', given the uncertainty around Labour's investor-focused housing policies.

Source: Otago Daily Times December 13, 2017 16:10 UTC