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New Listings Drop Across BOP In February

A new property report's revealed, a sharp decrease in new listings, Bay of Plenty wide, in the past year.


Realestate.co.nz's latest property report reveals, there was 522 new listings across the region, in February.


It's dropped 27.9%, compared to the same month, a year earlier.


The drop in new listings was seen nationwide, down 29.5% compared to last year.


Spokesperson, Vanessa Williams said, February's often a busy time for vendors.


"However, the challenges many Kiwis have faced over the last month will undoubtedly have an impact," Williams said.


The region's average asking price in February held firm, up 2.1% from January, to sit at $948,316.


Bay of Plenty's average price in February was higher compared to the nationwide average, at $880,009.


"The general sentiment of Kiwis has an impact on the property market, and there has been a lot of uncertainty recently," she said.


Williams also adds, that Kiwis "hold off on making big financial decisions during election years."


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