by The Landlord
Bryan Thomson, Harcourts chief executive says the company’s volume of sales transactions is well down on the same period last year, particularly in Auckland, so the amount of property on the market is rising – even given the lack of new property coming forward this winter.
He also believes buyers should seize these opportunities.
The latest Harcourts newsletter shows the northern region – Auckland north –recorded a 60% increase in the number of properties the company has for sale. In July last year there were 1,739 properties on hand compared to 2,774 today. The situation is even more pronounced in the Christchurch area where 63% more property is available than last year –from 2,372 properties in 2007 to 3,863 in 2008. It’s almost as bad in Wellington with a 56% leap from 1,774 last year to 2,725 today. And in the Central North Island there are 22% more properties – 2,266 last year and 2,761 today.
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