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NZ Realtors Group July 2012 Update

Media Report

Property Brokers Limited is a member of the NZ Realtors Group of leading independent real estate agencies operating throughout New Zealand.

It is expected from within the industry that sales over the winter months will not match the levels of sales we experience each month throughout the rest of the year. July figures almost mirrored June figures in terms of both sales volumes and the value of property sold.

While sales were reasonably flat for July it is interesting to note they are an improvement of 21% over the same period for 2011 and over 35% for July 2010.

We commented last month that winter was proving to be a time worth considering selling given the unusually low levels of homes for sale across the country. We stand by that statement and believe anyone seriously contemplating selling their property in the coming months would be wise to act now. Traditionally there is an influx of property to the market in September - October provided the weather remains mild over the next few weeks we predict this annual influx of property to the market could take place earlier this year. Like many markets the property market is especially sensitive to supply and demand. Current conditions are in most centres favouring home sellers.

The NZ Realtors group regularly transacts approximately 25% of all residential sales in New Zealand and the vast majority of our offices throughout the country are reporting record low levels of inventory (houses listed and available for sale in their areas.)

NZ Realtors are the largest group of independently owned and operated real estate agencies in New Zealand and with an established nationwide referral network, we welcome opportunities to represent vendors at all levels throughout New Zealand.

The New Zealand Realtors Group does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any statistical information published herein. This information has been supplied by individual members from the New Zealand Realtors Group without verification by any independent party. The views and opinions of authors expressed herein do not necessarily state or reflect those of the New Zealand Realtors Group or any other parties.