11 Aug 2011

Lack of listings affecting housing market

8:07 pm on 11 August 2011

The Real Estate Institute says house prices and sales fell in July amid a lack of listings.

Sales dropped by 7% to 4900 in the month compared with June, but 11% more than the same period a year ago, it says.

The national median house sale price fell by more than 4% to $345,000, while the average number of days to sell a property improved by two days to 42 days.