The first indications of real estate sales activity during May 2009 are beginning to appear and for Harcourts in New Zealand they are a continuation of the trend we have seen for the majority of 2009. Written sales numbers across the country for the month of May are looking to be 35% ahead of May 2009 with the standout location being the Central North Island where numbers are a significant 74% up on last year through to the South Island provincial areas where numbers are more in line with the previous year being 10% ahead.

These results are both a reflection of the sound market we are seeing currently and also the abysmal market that was in play during May 2008 in many locations.

As already reported by Alistair Helm on Unconditional blog new listing numbers remain low putting pressure on buyers to source their new property.

My advice for both sellers and buyers remains as it has always been, if selling, buyers are available, so market well and have realistic price expectations and you will succeed. Buyers, you need to make sure you are in a position to make decisions both rapidly and intelligently otherwise you will miss the best opportunities.

Harcourts Group will, as we always do, publish our full audited Marketwatch for May 2010 in approximately two weeks. If you would like to be added to this distribution list please email toni.skiffington@harcourts.co.nz

This entry was posted on Tuesday, June 2nd, 2009 at 5:28 pm and is filed under Business News, Real Estate Industry Comment, Real Estate Market Comment, Real+Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.