Real Estate NZ: Shrinking house stock, high prices make it a house seller’s market

  • The number of new houses up for sale in Auckland has fallen by a “significant” amount as high prices and low stock fuel a seller’s market.

Auckland’s housing stock for May fell 9.2 per cent compared to the same time last year, data from Realestate.co.nz showed.

Property commentator Olly Newland said it was a significant number for Auckland because of how tight the market already was.”Anything that goes up for sale today in Auckland, even leaky places, it’s a guaranteed sale,” he said.

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CHRIS SKELTON/FAIRFAX NZ
It’s not uncommon in Auckland to find derelict houses selling for millions, like this Grey Lynn do-up, which sold originally for $1.075 million.

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