A new online private-sale property listing website launched a week ago has 120 listings.

The site is www.homeboost.co.nz and a spokesperson said it was launched last week.

Founder Ben Hickey, 44, said he was inspired to launch the business after seeing young people struggle to buy properties.

"New Zealand is arguably one of the best places on earth to live, but our property market has become one of the most unaffordable in the world, especially for 25- to 45-year-olds. For most first home buyers, the biggest challenge is raising an adequate deposit to even get a foot in the door. By removing the commission and sharing the spoils between the buyer and seller, we can increase the chance of owning a great home," he said.


The site removes the need for agents and for vendors to pay commissions which are often about 4 per cent of the value of a place being sold.

"Instead, with HomeBoost, the seller pays around 2 per cent directly to the buyer, boosting the buyer's equity and leaving the seller with more cash from the sale of their home," Hickey said.

People HomeBoost $500 to $2000 on each sale to cover the cost of marketing and operations, he said.

A number of other private sale web sites are also in action, including www.proppy.co.nz.