New residential listings and total stock levels on Realestate.co.nz both at their highest levels in more than a decade

The housing market is having a buyer’s summer with new listings and total stock for sale both at their highest levels for the time of year in more than a decade.

Property website Realestate.co.nz received 12,252 new listings in February, up 7.8% from February last year, making it the most new listings the website has received in February since 2013.

That pushed already high total stock levels up to an 11-year high, with the website having a total of 36,357 homes available for sale at the end of February.

The biggest increases in new listings last month tended to be in the smaller provincial centres, with new listings in the Central North Island (which includes Taupo) up 25.0% year-on-year, followed by Taranaki 22.3%, Marlborough 21.1% and Manawatu/Whanganui 20.9%.

However, buyers in most main centres will also have plenty of choice, with new listings in the Bay of Plenty up 16.7%  compared to February last year, followed by Auckland 10.8%, Canterbury 7.9% and Otago 6.0%. See the table below for the full regional figures.

Asking prices were basically flat, with the national average asking price of properties available for sale on Realestate.co.nz moving up just 0.1% in February to $849,061.

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