Realestate.co.nz have just released their Second NZ property report, this one being for April 2009.
You can view the whole report here. (click here to view report)
This report matches the first in it’s relevance to NZ’s property market and is fast becoming one of the must read reports that you see month to month.
Interesting in this report is the significant drop in listings on realestate.co.nz for the Canterbury area, showing a 37% drop in the amount of new listings on realestate.co.nz.
I’m not sure of the new listing figures for Ashburton alone, but what I have noticed is a 2% drop in total residential listings in Ashburton compared with last month, with there being 356 listings this month a slight drop from last months 365. Ashburton bucking the trends again?, possibly.
Also noticed in recent months is a return in sales activity, and I will bring you Aprils sales figures shortly which I believe will support this. Property investors seem to be re-entering the market, snapping up the bargains that have been reappearing.
Annecdotally I have noticed , as I’m sure others that have watched the rental adds in The Guardian have, is that there seems to be a lot more available rentals being advertised, (I counted around 50 in last Saturdays paper), so it appears that for the time being supply has met demand, it is not a bad time to be looking for a rental at the moment.
Certainly an area to watch over the coming weeks, of course the meeting of demand does seem to happen about this time every year when the CMP and PPCS lines close down so I don’t expect this over supply to last for long If other years experience is anything to go by.