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Lack of listings impacts real estate market

Posted on 08 October 2012

A shortage of new listings is causing buyers to make rapid decisions lifting house prices around the country. “The traditional rush of spring listings has not eventuated this year and the market is tightening as buyers face a limited choice of offerings,” said REINZ Chief Executive Helen O’Sullivan. “This has been reflected by increases in the median price across much of the country.”
“Auckland continues to be the key region in terms of price increases and demand for housing, however, other regions are now starting to see pressure building with the median price in five regions within 10% of their record medians and the number of days to sell falling quite rapidly in some parts of the country.”……………………………………….Full Article: Source


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