10 Mar 2014

House sellers told not to be 'too greedy'

10:56 am on 10 March 2014

Auckland's largest real estate agency is warning people wanting to sell their houses not to be too greedy.

Barfoot & Thompson managing director Peter Thompson says the market has turned from being a seller's one to a more neutral position.

After a brisk start to the year in January, when sales were at their highest level in six years, Barfoot's sales in February fell 15 percent compared with February last year, although prices held steady.

Mr Thompson says his firm now has more houses available for sale than it has had since March last year.

He says the firm currently has 3674 properties on its books but when the market was at its peak the number of was as low as 2800, which was an all-time company low.

Mr Thompson says that the more properties there are on the market, the more choice buyers have.

He says it's turning from a seller's market to a more even market.