1 Sep 2011

Property market alive again

1:01 pm on 1 September 2011

The property market came to life last month with a surge in new listings and more buyers in the market.

A property report by realestate.co.nz shows new listings rose a seasonally adjusted 9% in August, but inventory dropped for the fifth consecutive month due to high buyer demand.

Twelve out of 19 regions now favour sellers and the average asking price rose 3% on the previous month to $415,000.

Chief executive Alistair Helm says spring has come early to the property market, but the Rugby World Cup is not a factor.