The latest New Zealand Property Report is published by Realestate.co.nz provides insight into the state of the New Zealand property market as measured by the supply side of the property market.
Excerpt—“The month of July is the midpoint of winter, traditionally the lowest season for new properties coming onto the market. Winter generally represents just 22% of the total listings in the year, yet the same 3 months represent traditionally 24% of sales demonstrating a key factor in the continuing tight property market especially in the main centres of the country.
Set against this backdrop the level of new listings could be seen as a ray of good news as the total number stayed up and did not fall significantly, representing as they did a 5% year on year increase and bringing to the market over 9,400 new listings.
There is though no doubt that the message to sellers appears to be getting through when it comes to price expectations. The latest asking price level for July is up 3.7% as against last year.”