A jump in new listings on Realestate.co.nz keeps total stock levels at an 11 year high at the start of spring
A jump in new listings in August is likely to keep housing in a buyer’s market as we head into spring.
Property website Realestate.co.nz received 8769 new listings in August, which was up 9.0% on August last year and was the most it has received in any month over the three months of winter, jumping from 7612 in June and 7737 in July.
It was also the most new listings Realestate.co.nz has received in the month of August since 2020.
That helped keep the total level of stock for sale high, with realestate.co.nz having 30,000 residential properties available for sale at the end of August, up 1.4% compared to August last year.
That puts stock levels on the site at their highest level for the time of year since 2014 and they have more than doubled since August 2021 when there were just 12,249 residential properties for sale on the website.
That means buyers will still have plenty of choice as they head into spring and will likely retain the upper hand in price negotiations they have enjoyed since last year.
The average asking price of the properties listed on realestate.co.nz was $840,547 in August, which was the highest it has been over winter but still down by $11,741 compared to May.
