An increased number of new residential properties came on to the market in November, showing more vendors are motivated to sell with the most new listings since mid 2008.The latest data from property listings website realestate.co.nz showed a 7% increase
An increased number of new residential properties came on to the market in November, showing more vendors are motivated to sell with the most new listings since mid 2008.
The latest data from property listings website realestate.co.nz showed a 7% increase last month of new houses up for sale.
Almost 13,000 new properties were listed in November, the most since June 2008 for any month and the most listings for the month of November since the market peaked in 2007. There were only 10,559 new listings in September this year.
Realestate.co.nz chief executive Alistair Helm said the average asking price had dipped half a percentage point to $417,660, 3% below where asking prices hit a high in 2007 at $429,033.
“These figures are heartening because they indicate there is actually some new life in the market, which we haven’t seen in a long time. Vendors are eager to take advantage of the summer marketplace and are setting their expectations at realistic levels,” Mr Helm said.
“While these indicators show it’s definitely a good time to buy, we’ll need to wait and see how this trends over the next few months before we can fully assume that the market is regaining some buoyancy.”
