The April 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.
Excerpt—-“April did not witness a flood of listings as might have been expected given the signals which have been flashing for some months now in the media that the property market is alert and very much alive; more so in the main centers of the country. Instead levels of listings were nearly identical to April last year.
This however, did not have the expected downward pressure on inventory of unsold houses on the market; this was due to the fact that whilst property sales are strong the latest month’s data for March did not show a seasonally adjusted increase.
This indicates that the market would appear not to be diving headlong into a property bubble, but rather is seeing steady turnover and pragmatic buying and selling in the main.
Listings volumes coming onto the market in April matched last April with 10 of the 19 regions seeing less than the same volumes in April last year. Significantly lower volumes were seen in Gisborne (-63%) and Central Otago / Queenstown (-48%), with Coromandel, Central North Island and Nelson all seeing volumes of greater than 20% below last April”.