It’s a good thing property in New Zealand has no ‘use by date.’


The person that does the shopping in your family well knows that Shelf life is the length of time that food, drink, medicine, chemicals, and many other perishable items are given before they are considered unsuitable for sale, use, or consumption.

It’s a good thing NZ property has no ‘use by date.’ Right?

New Zealand’s real estate industry began the year with 52,817 listings (at the time equivalent to 37 weeks of sales) and the year ended with 53,077 properties on the market.  With a lower rate of sale the inventory of unsold houses now amounts to 50 weeks.

Realestate.co.nz kindly display the date that a particular property was first posted on this leading property portal. This date stamp indicates when the real estate firm exports the property from their website to the portal for public viewing. For a more accurate understanding just how long the property you’ve got your eye on has been on the market, ask the realtor. If they don’t know the selling history to date they can soon enquire with their seller client. Fact finding to know if the property has been previously listed by other realtors is a fair and reasonable request.

The December 2010 NZ Property Report published by Realestate.co.nz provides an insight into the state of the New Zealand property market as measured by the supply side of the property market over the month of December.

The report is compiled from data captured by the website and represents close to 95% of all property movements in the NZ market as managed by licensed real estate agents.

Read the report here.

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