Property market on the rise

Nearly 1000 properties sold in Wairarapa last year, two exceeding the $1 million mark.

Buyers snapped up 928 Wairarapa properties during 2012, setting an annual median sale price for the region of $210,500.

Property Brokers Wairarapa regional manager Paul Joblin said 2012 finished a lot stronger than it began, even though December sales were down on the monthly average for the year.

The year's quietest month - determined by the number of properties sold - was January, which coincidentally was also the month with the highest median sale price.

November was the year's busiest month but prices dipped in July, which recorded the lowest median price.

"There's certainly an air of confidence in the marketplace," Mr Joblin said.

"Going forward, we're hoping we get a bit of a spin-off from the activity that's happening in the major cities."

Mr Joblin said he expected to see the market continue to "bubble along at an increasing rate" and predicted "a better year all-round" during 2013.

While demand for new listings was consistent, it was mainly limited to the lower to middle end of the market, he said.

Thirteen of the 24 houses sold in Masterton last month went for under $200,000. "The buyers have been cautious and they have every right to be.

"We are now seeing people thinking about coming back up to the Wairarapa from Wellington, and utilising our great climate and area and schools we've got here."

The number of people who commuted to the capital every day was proof of the perks of living in the region, he said.

The national real estate market closed last year with a new median house price record of $389,000, up 9.6 per cent on December 2011.

A total of 74,000 houses sold during 2012, a 21 per cent increase on the previous year and the highest annual total since 2007.

Real Estate Institute of New Zealand chief executive Helen O'Sullivan said Auckland and Christchurch notched up strong growth and the real estate market posted big gains nationwide last year, particularly with the number of sales by auction.

January was traditionally one of the quieter months in real estate as realtors ended up with half a month's trading due to the holiday season.

Ms O'Sullivan said she expected to see "more of the same" this year, with the median sale price continuing to tick up steadily in most regions.

WAIRARAPA BY THE NUMBERS:

$210,500 - median sale price for 2012

928 properties sold

Two properties sold over $1 million

Month of highest median sale price: January

Month of lowest median sale price: July

Quietest month: January

Busiest month: November

Source: REINZ