September rise in house prices, new listings

A shortage of properties listed for sale, which was thought to have been a factor in rising prices, looks to have eased last month.

Property listing website Realestate.co.nz today reported property listings rose 19 per cent in September, compared to August, while year on year listings also grew for the first time in 2009.

The website's monthly survey of market activity, NZ Property Report, also found vendors' asking price expectations rose 6 per cent last month to $419,841, following six months of subdued price expectations.

Realestate.co.nz chief executive Alistair Helm said an increase in both the number of listings and the price expectations during the spring and summer period was expected.

To read the full NZ Herald article click here

Posted: 2 Oct 2009

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