According to NZ Herald, new property listings are actually in decline especially for May 2009.
"The number of new property listings declined for the third month in a row, with listings in May dropping a further 5 per cent on April, according to the property website Realestate.co.nz.
The website's monthly NZ Property Report showed only 9993 new listings were added to the market in May, 29 per cent down on the same figure for May 2008, said chief executive Alistair Helm."
However this report does not present the exact information and can be quite manipulative. In New Zealand, some property companies are controlling the release of new properties for sale to control the market perception of the NZ property market downturn. Also, many home owners are selling privately and don't even advertise the sale of their homes.
In some rural residential areas, you'd be amazed to see the number of properties for sale within a community versus the number of houses actually there.
In fact, just last month, I visited a property near the beach worth NZ140,000. It was on a 2000sqm block, with a nice lavender garden, an outdoor jacuzzi and a 3 bd cottage and a 2-car garage.
The property market in NZ is still struggling. So you need to know the real deal before you listen to NZ news or NZ real estate statistics.
The "New Zealand Property Report 2009" by author Andrew Sheldon is the most comprehensive property guide for foreign and local property and real estate investors in New Zealand. The author is an international property investor who has had more than 10 yrs of experience buying great value properties in Japan, Philippines and New Zealand.