The housing sector remains a ‘‘strong sellers' market'' around the country, as data from 19 regions shows all are selling their housing stock quicker than their long-term averages.
The inventory of listings measuring how long it would take to sell all currently listed properties if no more joined the list is revealed in statistics from realestate.co.nz, the website of the Real Estate Institute of New Zealand.
In Otago, the long-term average was 26 weeks to sell all stock, but based on April data it would take only 13 weeks to run out of stock.
Nationally, the long-term average was 34 weeks to sell all stock, but that had contracted to 14 weeks, realestate.co.nz chief executive Brendon Skipper said.
‘‘With the lower level of stock on the market and buyers still out there, it's certainly a sellers' market,'' Mr Skipper said.
The inventory of listings was at its lowest level since January 2007, when data was first collated.
While just over half the 19 regions had property listings rise for April, Otago, Canterbury and the Waikato were singled out by Mr Skipper, as their listings were up by double-digit percentages.
New April listings in Otago rose 16.7% on April last year to 384 properties, Canterbury was up 11.4% to 1400 and Waikato 11.7% to 802.
Ten of the 19 regions booked April declines in their asking prices. Otago was down 0.4% to $321,899, while Auckland fell 0.1%, to $861,305.
