Sellers clearly still in RWC mode as stock still tight
Monday 14 November 2011, 1:05PM
By Harcourts
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Over the last month New Zealand has been gripped by the Rugby World Cup and it’s been clear that any prospective sellers were preoccupied with the game as there has been a drop in new stock coming to the market tightening availability further. On the other side of the fence, buyers have been out in force in the Northern, and South Island regions increasing written sales activity to 36% and 25% respectively on the same month in 2010.
The rural markets are seeing increasing transactions being completed which in time will have a flow on effect into the broader NZ economy and to real estate as people’s confidence in employment returns. November and December are traditionally high activity periods of the year for real estate decisions and at the time of writing this, next month’s data is looking like this year is no exception.
Read more: Harcourts MarketWatch, November 2011