Property website Realestate.co.nz's latest figures suggest the housing market may be headed for a relatively quiet summer.
New listings on the website climbed for the fourth month in a row to 10,712 in November, up 1183 (12.4%) compared to October, and up 5.2% on November last year.
But the total stock available for sale on the website increased by twice as much as new listings, rising from 25,602 properties in October to 28,014 in November. That's an extra 2412 properties for the month (+9.4%).
That means the total number of residential properties for sale on Realestate.co.nz at the end of November was up 45% compared to November last year.
But asking prices have gone in the opposite direction and headed down for the month.
The average asking price dropped by almost $31,000, from $920,678 in October to $889,879 in November, a decline of 3.3%.
That combination of rising listings, with an even bigger rise in total stock levels and falling asking prices, would suggest a fairly soft market.
However we will have to wait for the Real Estate Institute of New Zealand sales figures for November to come out in a couple of weeks to know if that is the case.
After all, listing properties for sale is one thing, but selling them is what actually counts.
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