1 Nov 2011

New property listings fall in October

7:06 pm on 1 November 2011

The number of new listings on the realestate.co.nz website fell 11 percent in October from the same period a year ago but rose slightly from September.

Alistair Helm, the website's chief executive, says the average national asking price reached a new high in October, beating a previous gain in April.

"We aren't seeing the shortage of listings we saw say in August and July and September and that period of the winter where things were getting pretty tight," he said.

He said they was a good balance between new listings and sales and that suggested a steady summer market.

"It looks like asking price will continue to rise, although it does seasonally drop off after Christmas," he said.

Statistics New Zealand said yesterday that consents for building new homes fell sharply in September, snapping strong gains in the previous two months.

The number of permits issued fell a seasonally adjusted 17% in the month compared with the same period a year ago.