The June 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—-“It seems that just as we sensed a stabilizing of the property market in terms of new listings responding to the growing demand as was witnessed in May, the market has swung again and the ever present property shortage just got worse. Worse by not just a small measure! – the current level of inventory is down to the lowest witnessed in 4 years. This situation has arisen as a consequence of very strong sales in May – the seasonally adjusted total of 6,154 was up 26% on April. In total the first 5 months of this year show sales up 25%.
Across the 19 regions of the country the asking prices generally eased which considering the low inventory across the regions is seen as somewhat surprising. The biggest falls were seen in Taranaki, Northland and the Central Otago / Queenstown lakes area – all falls of 10% or greater on a seasonally adjusted basis.”
Click here to read the 8-page report with graphs etc.
Home for sale-56 Jack’s Point Rise, Jack’s Point, Queenstown.
