Snail’s pace for new listings

The online sales portal spokeswoman Vanessa Williams says when new listings drop but the decline isn't reflected in total stock numbers, it her buyers are taking their time.

"Credit conditions remain tight for buyers while interest rates are uncertain for anyone without a crystal ball. Buyers are still searching for property, but many are delaying their buying  decisions given the economic climate."

Williams says REINZ March data confirms this, with days to sell rising to 45 days in March – nine days longer than in March last year.

She says while the market is no longer, buyers and sellers alike have more time to negotiate. “People should never buy based on the market, it must come down to personal and financial circumstances."