Monday 3rd January 2011 2 Comments
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A drop in house prices for December and a decline in properties listed for sale, is good news for home buyers, a property website says.
Realestate.co.nz's New Zealand property report said December listings hit an all-time low and asking prices continued to drop, easing as the market relaxed into summer.
There were 8924 new listings in December, a drop of 14% on December 2009 and the lowest number for four years.
The mean asking price for the new listings added in December also fell slightly from the previous month to $415,750, from $417,660.
Realestate.co.nz chief executive Alistair Helm said the low level of new listings would ease pressure on inventory of unsold houses, which have risen for six months in a row.
December was a traditionally a low listings month as vendors were keen to list before the Christmas season in October and November or leave it until January or later, Helm said.
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