An increase in new year property listings in Waikato may show the tide is finally turning towards buyers in the region, Realestate.co.nz says. 

But Hamilton real estate leaders aren’t so sure, saying a persistent shortage of housing stock means the market remains a sellers’ game while prices continue to rise.

A Realestate.co.nz report release Monday morning shows 544 new homes were listed in Waikato in January 2020, an increase of 4.2 per cent on January 2019.

It’s a sellers’ market that will continue as a lack of stock persists across all price ranges in the city. 

Realestate.co.nz spokesperson Vanessa Taylor said it was exciting to see fresh, new houses on the Waikato market amid a period of low stock.

“I hope we will see a shift to a buyers’ market. We’ve seen listings down year on year, there has not been a lot of stimulation in the market. 4.2 per cent is a sizeable increase compared to last January.”

The increase in listings was being seen in Waikato, Central North Island, Manawatu-Whanganui and Hawkes Bay regions, Taylor said. People may be listing holiday properties on the market, or might be anticipating more appetite for homes in these regions, Taylor said. 

But the total housing stock in Waikato, and across the country, has decreased from 2019. At January 2020, 1,433 houses were listed for sale in Waikato with realestate.co.nz, a 16.6 per cent decrease from 2019. 

roperty seekers are having to snap up property whether it’s been on the market for months or has just been listed & it was too soon to tell whether January’s listing increase signalled a major market shift Tyalor said. 

“We need another couple of months under our belt to see whether this is a trend.” 

Source; stuff.co.nz – Ellen O’Dwyer Feb 03 2020