There are further signs of the housing market starting to cool with property website Realestate.co.nz reporting declines in average asking prices and new listings in April.
The national average asking price for properties listed for sale on the website dropped from $863,396 in March to $845,056 in April, a decline of $18,340, or 2.1%, for the month.
Average asking prices declined in 13 of the website's 19 sales regions, with rises recorded for just six regions (Northland, Taranaki, Manawatu/Whanganui, Wellington, West Coast and Otago).
The biggest decline in both dollar and percentage terms was in the central North Island, where the average asking price was down by $108,698, or 14.8%, for the month.
The biggest increase in price was on the West Coast where it rose by $33,895, or 10.4%.
The table below shows the change in asking prices between March and April for all sales districts.
Realestate.co.nz also received fewer new listings in April compared to March, although that's to be expected at this time of year as the market heads towards the quieter winter selling season.
The website received 9145 new listings in April, down from 11,322 in March , down 19%, with all 19 sales districts recording significantly lower new listings.
Unfortunately it is not possible to give meaningful comparisons with new listings in April last year because the figures were badly affected by the COVID restrictions.
However in April 2019, Realestate.co.nz received 8944 new listings, which means new listings in April this year were up very slightly (+2%) compared to two years ago.
|Realestate.co.nz Average Asking Price|
|Region||Mar-21||Apr-21||$ Change||% Change|
|Bay of Plenty||$872,035||$851,979||-$20,056||-2.3%|
|Central North Island||$736,259||$627,561||-$108,698||-14.8%|
|Manawatu / Whanganui||$575,876||$605,282||$29,406||5.1%|
|Nelson & Bays||$790,694||$761,551||-$29,143||-3.7%|
|Central Otago / Lakes||$1,111,750||$1,031,309||-$80,441||-7.2%|
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