Spring property surge fails to happen

The traditional spring property sales surge has failed to materialise, the realestate.co.nz chief executive Alistair Helm says.

A monthly survey of market activity, the New Zealand Property Report, shows listings are up only 7 per cent to 13,550 compared to a 21 per cent rise at the same time last year and 16 per cent in 2007.

"We are seeing a certain confidence in the market through people searching on the site and also people listing their property, Helm said.

"But the seasonal uplift in listings has not happened as it did in years gone by."

- NZPA