New listings for July have declined, the latest data from realestate.co.nz reveals
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Nationwide new property listings fell by 17.5% in July compared from a year ago, but prices in most regions remained relatively stable, according to the latest data from realestate.co.nz.
“In July 2017, only 7,933 new listings came onto the market across the whole country, which is the lowest number in any July month since our records began in 2007,” realestate.co.nz spokesperson Vanessa Taylor said.
Real time statistics revealed that of the 19 regions in New Zealand, all but Nelson experienced a decline in July from the previous year.
The greatest falls in new listing in the North Island regions were Waikato, Bay of Plenty, and Taranaki, which were down 27.0%, 26.3% and 22.4% in July from the previous year respectively.
In the South Island, Central Otago/Lakes new listings fell 32.4%, while Otago listings dropped by 28.8% compared from a year ago.
By comparison, new property listings in Auckland slumped sharply by 13.9%.
“At the same time, New Zealand’s average asking prices for homes fell by only 0.3 per cent compared with the prior month.”
The Auckland region, Taylor said, is at an interesting stage in the property cycle, as it is “poised between a buyers’ and sellers’ market in July” compared to every other region in the country.
Despite the registered declines, a lift in asking prices were still seen in some regions such as Coromandel which was up 11.2% compared to the previous month, followed by Northland (5.6 percent), Marlborough (5.4 per cent) and Central North Island (5.1 per cent).
“In July 2017, only 7,933 new listings came onto the market across the whole country, which is the lowest number in any July month since our records began in 2007,” realestate.co.nz spokesperson Vanessa Taylor said.
Real time statistics revealed that of the 19 regions in New Zealand, all but Nelson experienced a decline in July from the previous year.
The greatest falls in new listing in the North Island regions were Waikato, Bay of Plenty, and Taranaki, which were down 27.0%, 26.3% and 22.4% in July from the previous year respectively.
In the South Island, Central Otago/Lakes new listings fell 32.4%, while Otago listings dropped by 28.8% compared from a year ago.
By comparison, new property listings in Auckland slumped sharply by 13.9%.
“At the same time, New Zealand’s average asking prices for homes fell by only 0.3 per cent compared with the prior month.”
The Auckland region, Taylor said, is at an interesting stage in the property cycle, as it is “poised between a buyers’ and sellers’ market in July” compared to every other region in the country.
Despite the registered declines, a lift in asking prices were still seen in some regions such as Coromandel which was up 11.2% compared to the previous month, followed by Northland (5.6 percent), Marlborough (5.4 per cent) and Central North Island (5.1 per cent).
