2 Jul 2012

Housing now a sellers' market in all regions

7:08 am on 2 July 2012

The latest property report has shown every region in the country is now a sellers' market as the numbers of homes for sale fall to their lowest level in four years.

Property website realestate.co.nz says the inventory has fallen nationally to less than 30 weeks, well below the long term average of 41 weeks.

A dearth of new listings in key regions like Auckland and Canterbury is despite a high level of demand .

The average asking price for listings fell slightly from record levels, to $424,000.

The report says there were strong sales in May, rising 26% compared with April.