Housing market could be at a turning point over summer as the the number of homes being listed for sale ramps up

The crowd is beginning to rush for the exits.

Be quick.

lt will be interesting to see whether the REINZ figures tell a similar story. October's national inventory was down 16% compared with the same time a year ago according to them, so if it looks anything like the realestate.co.nz figures suggest it does now, that would suggest a huge flood of property hitting the market.

Hi Greg, could you also add the map for the asking price please?  Many thanks

The housing marketing is heading the same way as your Goldfish did when you screwed up the pH.

...belly up.

I just wonder how many "mom n' pop" investors out there are saying "let's get out while the going is good" ...... but they'll have to find a "buyer" for the price they are expecting ??? ........ don't forget that NZ has the highest house prices in the western world compared to income.  

Good. Some signs of balance & sanity returning to the market. It's the buyers turn next year.

Be quick...https://www.u-buy.co.nz/brand/pepto-bismol

Keep buying from each other guys and push the prices to be high.

The politicians you choose are all big time investors, so they won't bring in policies to help the poor and needy. All politicians are rich and they will only help themselves and the rich who owns properties.

So get on the band Wagon and buy at any price. Become a land lord and enjoy the fruits. Don't wait. Keep buying the same house multiple times from below kiwis and make it reach new heights with no real value added to the society or the economy.

Just keep doing it, you don't need good university education but need a hammer and shovel to keep doing the hard labor. Keep importing the educated people who buy your houses and make you rich.

So let's just do what we have been doing for last few decades and let's all be millionaires. 

Yeah I'll believe it when I see it. Every week stories are coming out like this dangling hope that the market might start to even out, only for prices to charge ahead. 

Would be good to understand what proportion of this increased inventory relates to medium/high density as opposed to stand alone housing.

How many additional long term arrivals will be generated next year by the new Covid Visa rules phase 2?

This will kick in. Just as our borders are opening up to overseas arrivals.

I can tell you all from distant memories what could be resurrected; it was very common in the 1960s to 1990s when the banks were a lot more reluctant to lend on mortgages than they are now. The following could occur especially if the banks keep upping the mortgage interest rates:

Say the banks won't loan money on a mortgage to a couple of young buyers because they don't meet the bank's de facto debt-to-income ratio.  An investor with a few houses might want to sell one or two of them.  The investor can sell a house to the young couple by 'leaving in a mortgage' assuming the couple have a reasonable deposit even though the deposit isn't large enough to satisfy the bank. This would give the investor a tidy income for a term of say 3 or 5 years by which time the couple would save more to be in a position to obtain a bank loan.  The interest rate for that 3 or 5 year term would be less than the current bank rate but higher than the current measly bank term deposit rates.  So this would be a win-win situation where the buyers would pay a lesser interest rate for say 5 years, enabling them to save more of their income, enough to eventually take on a bank loan; the vendor (mortgagee) would get a higher return than a bank deposit and have the security of real property.  This would particularly be attractive to those who are becoming worried that the banks are carrying too much housing debt and might themselves become shaky if the market implodes.

And, more importantly for the vendor, he would probably be able to sell his property for a higher price than he otherwise would.

The difference between new listings and inventory in wellington and wairarapa is interesting.  That would seem to imply that properties are piling up faster than they are selling, are is that a statistical mistake on my part?

So listings are up 9% year on year (yoy) for November; however, the housing inventory remains the same at 10 weeks year on year.

It seems to me that demand has also moved a 9% upwards- in congruence with supply.

This may be the golden ticket out of poverty driven misery- when everyone thinks it's going to tank, BUY!

There isn't many lifetimes to lose due to indecisiveness.

Be quick!

Looking at Trademe figures.

Nationally the number of properties advertised for sale between 1 November and 1 December increased by 24%.to 24604 properties.

the number advertised to let increased by 10%

In Auckland over the same time the for sale increased by 27% to a total of 10031 properties.

The number advertised to let increased by 12% 

So as usual Auckland leads the charge. Of course not all agents list all of their properties on Trademe so there will be more than this number.

A lot assuming that 'Mum n' Dad' require home loans. Do folks assume Luxon and the likes are servicing mortgage debt?

I don't imagine so.