2011 ends with marked fall in new listings

The latest realestate.co.nz report found that at 8,732, the number of new listings in December was 35% down on November.

"In overall terms the number of new listings coming onto the market in December was considerably lower than expected given the surge in November," the report said.

The lower amount of listings saw inventory levels slip to below the long term average.

In December there were 47,557 properties on the market which, at the current rate of sale, would all sell in just over 36 weeks against the long term average of 41 weeks.