New Zealand house prices and December 2010 listing drops, lowest in 4 years

By on Jan 1, 2011 in Australia, Lifestyle Comments

Auckland, New Zealand – The prices of houses in New Zealand and the properties for sale in December 2010 listing went down, according to the country’s top real estate website on Saturday.

As published at Realestate.co.nz dated January 2, 2011, its monthly report showed that the December 2010 listing dropped enormously and hit a 14-percent decline, which is said to be the lowest figure in four years, and considered to be good news for potential home buyers.

The report, which according to the website represents nearly 95 percent of all property movements in New Zealand, showed that there were only 8,924 listing in December 2010, from 12,932 in November of last year.

Interestingly, the report added that no single month since Jan 2007 resulted to less than 9,000 on a monthly new listing.

Meanwhile, the mean asking price of houses for sale in the December listing also drop a little, to $415,750 from November’s asking price of $417,660; which normally should be about 1.3% higher.

In addition, the current asking price of houses in New Zealand continuously declined below the peak of Oct 2007, which is currently down by 3.1%.

Inventory report also showed that the number of unsold houses on the market at the end of December 2010 went down 53,077 from 54,365 in November.

According to the website, the data represented the equivalent of 50.1 weeks of equivalent sales, as assessed on a seasonally adjusted basis.



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