The January 2012 New Zealand Property Report published by Realestate.co.nz provides the latest insight into the state of the New Zealand property market as measured by the supply side of the property market.

The property market saw a further tightening of supply in December, more especially in the 3 major cities where the market remains very firmly as a sellers’ market. In overall terms the number of new listings coming onto the market in December was considerably lower than expected given the surge in November. This lower level means that inventory levels of property on the market slipped again to remain below the long term average. In December with 47,557 properties on the market the current rate of sale would see these all sell in just over 36 weeks as against the long term average of 41 weeks. This national level has remained below the average for 6 months in a row and with strong sales in November and early December it is anticipated that this will continue into the new year.

Across the 19 regions the view is mixed with 10 regions showing an increase in asking prices as measured against the recent 3 month average. There were 4 regions showing significant rises 1n asking prices of over 5% – Central North Island, Nelson, Central Otago / Queenstown Lakes and West Coast.

Click here to read the 8-page report with graphs etc.

8 Harrys Close, Arthurs Point For Sale