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Real Estate Briefing - Categorized | Finance, Market Moves more

NZ: Property market tightens

Posted on 03 December 2012

The New Zealand property market tightened further in November as ongoing high demand from buyers drove inventory levels of property for sale to a five year low, while asking prices registered another record high.
According to data released today in the NZ Property Report, inventory - which is measured by the number of weeks it would theoretically take to sell all unsold housing stock on the market - fell to 28.7 weeks in November (seasonally adjusted); a 29% drop from the same month last year, and well below the long term average of 39 weeks………………………………………..Full Article: Source


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