property for sale

PHOTO: NZ property for sale

Where are the houses for sale? Inventory levels at lowest level ever

The total number of properties available for sale in New Zealand decreased by 28.9% in May to 14,883 down from 20,940 in May 2020 – 6,057 fewer properties compared to 12 months ago.

“This is the second time that New Zealand has had less than 15,000 properties available for sale and is the second lowest level of inventory we’ve seen since records began.”

For the second month in a row, only one region saw an annual uplift in inventory levels – Gisborne with a 15.0% increase in inventory levels from the same time last year (from 80 to 92 properties – 12 additional houses).

Regions with the largest percentage decrease in total inventory levels were Bay of Plenty -46.9% (from 1,417 to 753 – 664 fewer houses), Nelson -45.8% (from 395 to 214 – 181 fewer properties), West Coast -44.4% (from 304 to 169 – 135 fewer properties) and Canterbury -42.8% (from 2,800 to 1,603 – 1,197 fewer properties).