New property listings across New Zealand rose 1.9 per cent year-on-year for the first time since November 2017, data from realestate.co.nz shows.
New properties to market hit 9,899 in April across the country.
Auckland suffered a 4.6 per cent fall in new listings at 3,380 compared to April 2017, but Canterbury increased 30.4 per cent, to 1,654 listings. Wellington increased 13.6 per cent, up to 754 new listings, boosting the nationwide data.
“Typically, when Auckland gets cold, the rest of the country also suffers, but this time when it came to new property listings, the rest of the country made up the numbers, led by Canterbury and Wellington,” says Vanessa Taylor, spokeswoman for realestate.co.nz, in a press release.
Asking prices in April also bounced back in Canterbury, increasing 2.4 per cent on the previous month to NZ$499,792.
“It’s been Canterbury’s time to go to market and it’s staying local,” says Taylor. Most searches conducted in the Canterbury region were performed by Cantabrians.
Christchurch Central was the top-searched suburb, followed by St Albans, Rangiora, and Merivale.
In April, the Wellington region experienced a 1.4 per cent fall in average asking price compared with the prior month. The April average asking price was NZ$603,949, compared to $612,697 in March, which was a record high.
Read the full report here.
First published 1 May, 2018
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