Leading New Zealand portal realestate.co.nz has released its market activity survey for September, revealing a six percent rise in the number of listings compared to last year and a 19 percent rise on August figures.
realestate.co.nz’s latest NZ Property Report has shown a seasonal lift in new listings the website says is “ahead of expectations”. In September, 12,674 new listings were recorded, up from 10,644 in August.
September was the first month in 2009 when year-on-year listings grew. Asking prices also increased 5.2 percent over the moving average of the past three months.
Despite the increase in new listings, the data also shows a 21 percent fall in the total number of new listings over the past 12 months – 134,873 as compared to 172,711 over 2007 to 2008.
realestate.co.nz’s data is collected from over 1,150 real estate offices across the country, which the portal says represents over 94 percent of all offices.