We continue a noticeable increase in new listing activity, allowing purchasers to enter the market with confidence of choice. This has added to the overall portfolio of properties available on the market.
Data provided by realestate.co.nz shows the increase of new property listings has stabilized at approximately 26,577 properties, which is 74.7 per cent ahead of October 2022. In regard to the last three months, there has been a continued lift in new listings, which has seen the total stock available across New Zealand lift by close to 5,000 properties, or just over 25 per cent, in six months.
Rising property listings can act as a slight headwind for property value growth.
This creates a more balanced market where buyers have more choice and the opportunity to make decisions compared to other properties available on the market.
