Results 1 to 2 of 2

Thread: Auckland house listings at four-year low

  1. #1
    MotherBear's Avatar
    MotherBear is offline The missing link
    Join Date
    Jan 2005
    Location
    currently Ras al Khaimah, UAE, ex Wales, UK
    Posts
    11,180
    Blog Entries
    1

    Default Auckland house listings at four-year low

    Auckland house listings at four-year low
    10:39 AM Tuesday Jul 5, 2011

    Auckland house listings are at a four-year low as winter gloom and a tepid economic recovery sap home-buyers' appetite to commit to a big-ticket purchase, according to real estate agency Barfoot & Thompson.

    The city's biggest real estate firm had just 5067 properties on its books at the end of June, down from 5249 at the end of May and the lowest since August 2007.

    It sold 873 properties in June, down 1.8 per cent from May, but up 31 per cent from the same month a year ago.

    "There is a high level of demand for properties, but a lack of confidence in the future of the economy is creating a natural brake on the willingness of owners and buyers to commit to moving on with their housing plans," managing director Peter Thompson said in a statement.

    "When available listings are this low, the market is normally running hot with prices and sales volumes on the rise, but that is not the current situation."

    In recent months, house sales have been climbing out of last year's sluggish spell as homeowners start to drop their prices as buyers shied away from over-valued property.

    More here.
    Mother Bear

    Try to bloom wherever you are planted.

  2. #2
    MotherBear's Avatar
    MotherBear is offline The missing link
    Join Date
    Jan 2005
    Location
    currently Ras al Khaimah, UAE, ex Wales, UK
    Posts
    11,180
    Blog Entries
    1

    Default

    Properties at lower end of the market selling faster
    By Susie Nordqvist 7:30 AM Tuesday Jul 5, 2011

    First National Group general manager John Stewart. Photo / suppliedHouses at the lower end of the market are selling the fastest as buyers take advantage of low interest rates, research by real estate firm First National has found.

    Cheap do-ups, houses targeted at first-home buyers and entry-level family homes rank as the fastest sellers for the majority of First National's 70 offices across the country.

    Half of respondents cited low interest rates as the catalyst for the sales.

    First National Group general manager John Stewart said the latest figures were a continuation of a trend, first noted late in 2010, for first-home buyers to be demonstrating increasing confidence that now is a good time to buy.

    "First-home buyers realise this is their chance. In most regions, prices have bottomed out and there are more and more multi-offers. The best homes - those that are well presented and well priced - are being cherry-picked," he said.

    More here.
    Mother Bear

    Try to bloom wherever you are planted.

Similar Threads

  1. Property: House sales sink to 10-year low
    By MotherBear in forum Locations / Properties
    Replies: 0
    Last Post: 14-10-2010, 07:59 PM
  2. House prices end year only 4.9pc off late-2007 peak
    By MotherBear in forum Locations / Properties
    Replies: 0
    Last Post: 11-01-2010, 07:07 PM
  3. where to live in auckland 21 year old!
    By keh541 in forum Locations / Properties
    Replies: 5
    Last Post: 07-05-2009, 01:24 PM
  4. Northshore, Auckland - 4 year old property
    By Tony Wakelin in forum Locations / Properties
    Replies: 0
    Last Post: 06-05-2009, 09:03 PM
  5. AUckland - House Shares
    By katiej35 in forum Locations / Properties
    Replies: 0
    Last Post: 02-04-2006, 08:52 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46