1 Jun 2009

Fewer properties listed in May

11:42 am on 1 June 2009

The real estate industry says fewer properties were listed for sale throughout New Zealand in May - the third consecutive month that numbers have dropped.

New listings on the market dropped 5% to 9993 - 29% down on the same figure for May 2008.

A national property report issued on Monday also shows the average asking price is down 6% from the market's peak in October 2007.

Regions which are considered a seller's market include Wellington, Taranaki and Nelson.