The nationwide stock of unsold houses on the block fell in February to its lowest level since July 2007, according to Realestate.co.nz.
National inventory fell to 26.2 weeks in February from 28.7 in January. This is well down on the long-term average of 39 weeks. In Canterbury it was 16.3 weeks in February, down from 18.1 in January. Wellington inventory fell to 16.7 weeks from 19.4 in January.
Realestate.co.nz says there were 13,145 new listings in February, down 2% year-on-year, and not enough to meet buyer demand in the main cities. There were a total of 44,698 unsold houses on the market at the end of February, up 1,642, or 4%, from January.
Barfoot and Thompson sees Auckland house sales rise 17% in February year-on-year
March 5, 2013 – 10:15am, Gareth Vaughan
Barfoot & Thompson, Auckland’s biggest real estate firm, says more properties were listed for sale with it in February than in any February in five years. This came as monthly house sales rose 17% from February 2012.
Peter Thompson’s managing director, said his firm recorded 1,752 new listings in February, the most in a February month since 2,049 in 2008. This was up 22% on January’s 1,440, and is only the third time in five years the company’s new listings have reached 1,700 in a month.