Property buyers remained reluctant last month despite a fall in prices, real estate company First National Group says.During July, the company's 450 sales staff saw house prices fall by 80 percent in at least one sector, such as two-bedroom or three-bedro
Property buyers remained reluctant last month despite a fall in prices, real estate company First National Group says.
During July, the company's 450 sales staff saw house prices fall by 80 percent in at least one sector, such as two-bedroom or three-bedroom homes.
That compared with property price drops in 65 percent of offices in June, general manager John Stewart said.
Prices were unchanged in 17 percent of regions compared with a year earlier.
Wellington's northern suburbs were the only places to see a rise in housing prices for all types of homes in July.
The regular monthly survey includes buyer enquiry indicators, listing level measures, and buying and selling trends.
"The presently stalled market is affecting many areas of the economy in general terms and is clearly seen in the real estate industry."
Buyers were worried about job security, banks' deposit criteria, and possible further property value drops, Mr Stewart said.
