New property listings still down - Harcourts

Real estate company Harcourts is continuing to report a low level of new listings as a feature of the property market, which it says will continue to stabilise.

There were fewer new listings last month than in May 2008, while the average written sale price in all but one region, Northern, was down on May 2008.

Areas hardest hit by the slowdown last year are experiencing a marked increase in the volume of sales. There was a 43 per cent lift in sales in Harcourts' northern and Christchurch regions and a 76 per cent increase in the central region.

"In our view attractive lending rates, positive immigration statistics and some positive rumblings internationally have all contributed to the increased activity," said Bryan Thomson, Harcourts' New Zealand chief executive.

To read the full NZ Herald story click here

Posted: 18 Jun 2009

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