The housing market remains mired in a protracted slump as it heads into winter, according to the latest figures from property website Realestate.co.nz. Stock levels were also up 81% compared to May 2021 when the market was approaching the peak of the recent boom. The fact that stock levels are so high and new listings are so low can mean only one thing - properties are sitting around unsold. Realestate.co.nz spokesperson Vanessa Williams said the low number of new listings was a symptom of the uncertainty in the market. "The combined total of new listings coming onto the market nationally during March, April and May (autumn) this year was just 23,743.

Source: Stuff June 03, 2023 03:33 UTC