15 Jul 2010

Housing market slow this winter

9:34 am on 15 July 2010

Lack of properties and cautious buyers are exacerbating a winter slowdown of the housing market.

Latest figures from the Real Estate Institute show prices remained flat in June, rising just 0.7% to $352,000.

The number of sales fell by more than 12% to 4575 in the month - the second lowest total for the month of June in the past decade.

The previous low for the month of June was two years ago when 4302 houses were sold.

It also took longer to sell a property in June. The median number of days stretched from 43 in May to 45 in June.