2 Aug 2009

Rise in number of houses being offered for sale

5:42 am on 2 August 2009

The real estate industry says a surge in the number of houses being listed for sale could herald the end of two years of uncertainty for the market.

An industry property report shows new house listings rose by 13% in July.

A jump in listings during what's normally the slowest month of the year recovered some of the 30% drop in the previous three months.

Total listings in July were only 4% below what they were a year ago.

However, the report also shows the median asking price fell another 1.5% in July after dropping almost every month since January.

On the West Coast, the asking price declined by 11%.