Listings Drop- Prices Steady

What with the freezing weather, wild winds, short dark days, LVR nonsense, higher interest rates plus the election wobbles, it’s a wonder that anything is selling let alone being listed.
All booms have “breathers” and this is just one of them.
Just wait for spring, post elections and longer days and then stand back.
It ain’t over yet.

 

Auckland house sales slow
MICHAEL FOREMAN
05/08/2014

Home sales in Auckland fell for the second consecutive month as listings plummeted to a seven-month low, real estate agent Barfoot & Thompson says.
But prices remained stable, with the average sales price in July reaching $719,312, less than a 1 per cent increase over June’s average price, the company said.

Releasing its monthly report today Barfoot & Thompson managing director Peter Thompson said a downturn was normal in winter, but the coming general election was also likely to be affecting the housing market.

After the number of listings had improved modestly in the first four months of the year, Thompson said there were only 3273 properties on the firm’s books by the end of July, the lowest number for seven months.

“We normally see new listings increase during August as vendors prepare to take advantage of the increase in sales activity as spring approaches,” Thompson said.
“However, with a general election in September, the potential exists that trading in August may not follow the normal pattern as the market awaits the election outcome.”

Read the rest here:

http://www.stuff.co.nz/business/money/10349821/Auckland-house-sales-slow

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