Realestate.co.nz figures show stock levels up and asking prices down, warns many vendors still have unrealistic price expectations
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Loading... - Walker Isabella
- 03 Feb 2023
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The buyer's market for residential property looks set to continue this year, with the number of properties for sale the highest at the start of a year since 2015.
Property website Realestate.co.nz had 27,732 residential properties available for sale at the end of January. That's up a whopping 39.4% compared to the same time last year.
That was the highest level of stock available for sale on the website for the month of January in eight years.
The relative slowness of the market was underscored by the fact that January's high stock levels occurred in spite of the number of new listings received during the month dropping to 6646, down 16% compared to January 2022.
Perhaps unsurprisingly, properties also appear to be taking longer to sell.
The average length of time properties were advertised for sale on Realestate.co.nz in January was up 25% compared to January last year.
Asking prices are also falling. Read More…
