Ray White Now New Zealand - September Edition - Page 15

Stock shortages emerging , and will become more challenging with lockdowns
The start of this year was particularly positive for buyers with the number of new listings exceeding 10,000 for the month . Since then , it has become more challenging to find a property . In July , properties for sale were down almost 15 % compared to the same time last year . Compared to March , they were down almost 34 %. Across the country , the declines were fairly consistent however a slightly bigger decline was recorded on the South Island .
As to whether this will continue will in part be driven by lockdowns . It is difficult to sell in a lockdown and this means that sellers generally wait it out . This reduces the stock available . Although historically we have seen a significant uptick in properties for sale once lockdowns end .
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