Developers sold 860 new private homes in November

Developers sold 860 new private homes in November. 

Developers sold 860 new private homes in November with a 13.3 percent jump compared to last year same month sales. Although there was a drop from October sales figure, analysts said the fall does not represent a weak market as there are fewer homes was put on the market in November. 

Developers sold 860 new private homes in November

So far, the total of units sold in 2016 has already crossed 7,769 units as compared to 2015 which only recorded 7,440 units sold. Marketeer believed it is very possible to cross 8000 units this year.  

The two new best seller in November is Queens Peak in Queenstown which sold 271 units and Parc Riveria in West Coast Vale see 127 units snapped up. Most units purchased of the two projects are being sold at under one million showing that buyers are attracted to unit with lower quantum which is usually a 1 or 2 bedrooms type.  

The analyst also notes that the market has stabilised and the buyer is hoping to acquire a unit now before prices recover.  However, the slow sales of three bedrooms and larger units could be of some concerns.