July was true to southern winter patterns, with low sales volumes and static prices, the latest REINZ statistics show. It had been "a long haul" for some agents, she said.
"We're waiting for the spring turnaround ... but it is usually October before we see more properties coming on to the market. Some agents are hurting. But they are hanging in there and continuing to do a professional job."
Sales volumes were lower than usual in Dunedin, the statistics showed, but were as expected for July in other parts of the lower South Island and lifted in Central Otago, Queenstown and North Otago.
Oamaru appeared to have picked up buyers leaving Christchurch after the earthquakes of September and February, Mrs Nidd said.
"Why Oamaru over Dunedin? I don't know, but I am surmising it is because of cheaper properties available in Oamaru. Some people are still waiting for insurance payouts. Oamaru might be a good stopgap."
Median prices in July were static compared with the previous month. They rose marginally in Dunedin, Invercargill, Southland and North Otago and dropped a little in Central Otago, Queenstown, South Otago and East Otago.
Static prices had, in turn, led to some vendor reluctance to put properties on the market, Mrs Nidd said.
But she said there were still "dedicated vendors, dedicated buyers and dedicated agents out there".
"We even had agents and prospective buyers at open homes in the snow [on Sunday]," she said.
Nationally, there were 4928 sales during July, 301 fewer than were sold the previous month and a slighter larger decline than the seasonal pattern expected for the time of year.
