Big jump in unsold properties

The number of unsold properties in Harcourts' northern region, which includes Auckland, has almost doubled.

New Zealand's largest real estate chain, with 180 offices, issued figures yesterday showing a big jump in the number of properties for sale.

Property on hand rose 89 per cent last month compared with last January, the agency said.

It had had 2044 properties on its books last January; last month, the figure was 3866.

Harcourts said its December sales were better than expected but January was worse.

Harcourts' chief executive, Bryan Thompson, said he would look to this month's sales to get a more accurate picture of the market.

The statistics show fewer people are choosing only one agency.

To read the full NZ Herald story click here

Posted: 23 Feb 2009

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