Photo: RNZ
People considering buying a house should visit 50 before they decide on one, the chief executive of Realestate.co.nz says.
It has released its data for April, showing national average asking prices were down 1.7 percent compared to a year earlier, to $852,364.
The amount of housing stock for sale increased 6.2 percent over the same period but the number of new listings fell 29.2 percent between March and April.
"New listings were down 11.6 percent compared to last year, but there is still strong interest across the market. We're seeing the highest level of enquiries from buyers in three years. That's a positive sign," said Realestate.co.nz chief executive Sarah Wood.
She said buyers had time to act carefully.
"My advice? Visit 50 properties before you buy. You need to know the market, know what's selling, and know what buyers are paying - and right now, you have the time to do exactly that," she said.
"This market also allows buyers to negotiate terms, like longer settlement periods, and complete thorough due diligence before making decisions."
She said sellers could also benefit from the relative stability in the market.
The national asking price had been between $850,000 and $890,000 for the past two years.
"It's been more than two years since the national average asking price was above $900,000. Over that time, prices have fluctuated by less than 6 percent within a tight $50,000 band. We are in a period of rare stability," she said.
She said well priced properties were still selling.
"If you accept a slightly lower sale price than your original expectations, you're also better positioned to negotiate sharply when you purchase your next property. It's a two-sided opportunity," Wood said.
