Property sales have reached the highest point in years - but the number of unsold homes is at a record high.

Barfoot & Thompson has revealed March was a record month for house sales, but unsold stock numbers have been climbing, with 5300 places unsold in January and 5900 in February but 6200 last month.

Property investment expert Ed McKnight says vendors aren't willing to take risks at this point.

"It's a bit of a game of who's going to blink first - are those sellers going to capitulate to what the market is actually willing to offer?"

LISTEN ABOVE

Property sales have reached the highest point in years - but the number of unsold homes is at a record high.
Barfoot &amp; Thompson has revealed March was a record month for house sales, but unsold stock numbers have been climbing, with 5300 places unsold in January and 5900 in February but 6200 last month.
Property investment expert Ed McKnight says vendors aren't willing to take risks at this point.
"It's a bit of a game of who's going to blink first - are those sellers going to capitulate to what the market is actually willing to offer?"
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Ed McKnight: Property investment expert reveals whether or not the housing market is set to take off

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/76f3115c-b498-48ee-90d1-b2b3006b7f2d/transcript