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December house listings lowest for four years - website

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.

 

NZPA



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Comments from our readers

On 3 January 2011 at 11:57 am Ange said:
why does phil goff want more houses built? hes an i****. waiting to see house prices at 1980 levels:)
On 4 January 2011 at 7:25 am kevin brown said:
Given that we often follow US trends with a sustantial time delay what are chances of a similar price drop to theirs ie 30%.I hope not but its a scary thought.
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