Spring fails to bring listing leap

Spring has sprung but the "for sale" signs on grass verges outside houses are failing to sprout.

Real estate agents are complaining about a shortage of listings, saying the warmer weather usually makes people think of shifting.

But not this year.

Realestate.co.nz, jointly owned by the Real Estate Institute with a group of large agencies, complained about the lack of the anticipated spring pickup in a monthly update issued yesterday.

In July, 10,733 houses were put on the market but last month there were only 10,644 new listings.

This was below the expected level anticipated as a result of the spring seasonal upturn.

The agents are blaming the lack of new listings partly on flat prices.

To read the full NZ Herald stroy click here

Posted: 2 Sep 2009

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