The average asking prices of homes listed for sale on Trade Me Property are rising in most places around the country and setting new highs in Auckland.
Nationally the average asking price of all homes newly listed for sale on the website in the three months to August was $597,250, a new record high and up 7.1% compared to the same period of last year.
In Auckland the average asking price also reached a new high of $858,900, up 11.4% compared to a year earlier.
The biggest growth in average asking prices over the last 12 months has occurred in Otago, where they are up 20.4% compared to a year earlier, followed by Waikato +19.2%, Bay of Plenty +17.4%, and Northland +14.1%.
In the Wellington region they have risen 10.8% over the last year.
However the market appears to be much quieter in Christchurch where the average asking price of $465,600 was up just 1.7% compared to a year earlier (see chart below).
"The sluggish property market we've seen recently is starting to gain some traction again as we shift into spring," Trade Me's Head of Property Nigel Jeffries said.
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8 Comments
Yeah pretty disgusted by nz.hougarden.com. I got an email from an agent in Tauranga saying prices were down in the month of August all across Tauranga, and that gels with my expectation of the new LVR's. Wont affect cashed up baby boomers or Chinese buyers in AUckland though.
The reality is that the Chch property market is a realistic one that is always resilient and where good returns are possible not like some others that have 2 and 3 per cent returns.
As previously stated many of the sales are as is where is which lowers prices as well.
Chch is the most underrated city in NZ but will be booming when Auckland isn't.
You have been advised.
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