Harcourts MarketWatch May 2009

Harcourts MarketWatch (May 2009 stats and associated comment)

For the third month in a row our statistics demonstrate a market with a reduced level of new listings coming to the market and a significantly higher number of written sales being recorded than the same month last year.

The comparative increase in buyer activity is particularly noticeable in those areas hardest hit by the slowdown we experienced last year, with an average increase in the volume of written sales in May 2009 of nearly 40% when compared to May 2008, including 43% lifts in Harcourts’ Northern and Christchurch regions and a 76% increase in Harcourts’ Central region.

This marked improvement in the volume of written sales follows the trend in March 2009 (30.4% increase on March 2008) and April 2009 (44% increase on April 2008).

In terms of the figures we report there were fewer new listings last month than in May 2008, while the average written sale price in all but one region (Northern) was down on May 2008.

ENDS

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