Never a better time to sell
Don’t wait for spring, because you will be competing with many other sellers who are also waiting to bring their property onto the market.
List your property ‘now’ when the stock of unsold homes on the market tightened to an all-time low of 25 weeks, based on the rate of sales, well down on the long term average of 38.1 weeks. The number of new listings in June represents an 18% fall and it is the lowest number of June listings for 7 years.
The housing market remains in favour of the sellers. This is driven by a shortage of listings for sale and low inventory across many regions which include Canterbury, Waikato and Central Otago. Wellington’s stock has fallen to 15.4 weeks, the lowest since 2009.
It remains a sellers’ market across 15 regions of the country. With supply of stock so low in many regions, the economics of supply and demand influences property prices upwards.
The asking price fell in June to $450,178 down 1% on the previous month lead by Auckland experiencing a slight fall; however, this was tempered by Wellington and Canterbury where the asking price rose.