1 Apr 2017

Rise in property listings 'works out for both sides'

12:56 pm on 1 April 2017

New property data shows home buyers have more houses to choose from, and at stabilised prices.

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Photo: 123rf

The March statistics from realestate.co.nz showed the number of property listings was up almost 11 percent on the year before, led by 20-percent growth in Auckland.

It was just the second time in a decade the number of new residential listings in March had exceeded that of February.

Meanwhile, the national average asking price stayed steady, with the once-hot Auckland market remaining relatively unchanged with a 0.2 percent increase on March last year.

Vanessa Taylor, the website's marketing manager, said this was good news for buyers, but also for sellers.

"There is more choice out there so buyers who are property hunting will be able to find more properties that are in their criteria

"And it also means that if you are selling your house you get more of an idea around the price banding and if you are buying in the same market it gives you that stability, so I think it works out for both sides."

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