1 Oct 2009

Website real estate listings rise

7:12 am on 1 October 2009

Confidence appears to be improving in the property market, based on figures from a major internet listing agency.

New listings on realestate.co.nz rose 19% in September and are up 6% on last year's figures.

The website, which lists more than 90% of all properties for sale, says vendors' price expectations rose by 6% during the month, to an average of almost $429,000, reversing six consecutive months of declines.

The company's chief executive, Alistair Helm, says demand has been building up and owners are now feeling more confident in putting their property on the market.

Mr Helm believes the increase in listings is more than the usual spring upturn, and expects further improvements in coming months.