MarketWatch (July 2012, NZ)
In this month’s MarketWatch….
As winter makes itself known, new listings are slow to come to the market, continuing the pressure on stock levels which are at their lowest in four years. ‘Recovery’ is the hot word at the moment as written sales volumes increase, this being a direct indicator of market activity and buyer confidence particularly in the main centres. Auction volumes continue to rise and with increased buyer activity this places pressure on existing stock and results in firming sale prices. Auckland and Christchurch continue to be the stand out markets showing no signs of slowing.
Harcourts Group, CEO
Disclaimer: All Harcourts MarketWatch figures are current to the end of the reported month and are compared to the same month ended for the previous year. ‘Written Sales’ is defined by all sales brought to contract status, where ‘Settled Sales’ are the results of contracts completed at the close of the reported month. Written Sales are a snapshot of the markets temperature while Settled Sales show what has happened in the previous month.
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