More sales but prices stagnant in provinces

The website has released its Property Pulse factsheet which shows more than 7000 sales nationwide in May 2012. The number of new listings in May also increased 17% on May 2011.

But chief executive Alistair Helm said it was not a sign of a boom. “Listings remain in short supply and given the slowdown seen seasonally across the winter months, this shortage will only become more acute. This could lead to pressure of demand as we head into spring.”

The national mean house price increased 6% to $381,950, according to the realestate.co.nz statistics. 

The level of new listings coming onto the market in May at 11,544 was up significantly from April, and up 17% as compared to a year ago.