House sellers demand highest-ever prices

The average price Kiwi homeowners are asking for their properties is at an all-time high since records began 12 years ago.

Figures from realestate.co.nz show the national property asking price in January 2019 was 3.3 per cent up from December’s, to NZ$695,116.

Spokesperson Vanessa Taylor says when realestate.co.nz started collecting data in 2007, the average national asking price for a property was NZ$410,666.

“Since then, the continuous increases in the national asking prices have largely been led by the Auckland region, but this month it was a diverse mix of eight other regions which took the limelight,” she says in a press release.

The eight regions that hit all-time high asking prices in January were:

·         Waikato

·         Gisborne

·         Wellington

·         Nelson and Bays

·         Otago

·         Southland

·         Central North Island

·         Manawatu/Wanganui.

However, the average asking price in the Auckland region in December was flat, with only a slight increase of 0.7 per cent to NZ$960,482 over last December.

And across the country, the number of houses for sale in January fell, by 2.5 per cent in January compared with last January. There were 24,878 houses for sale nationally.

Despite this drop, prospective buyers were still watching the market. The site registered over a million unique users browsing for property in January (1,126,076).

“The Kiwi passion for property is alive and kicking,” Taylor says.

Published 14 February 2019

This article does not contain any financial advice and has not taken into account any particular person’s circumstances. Before relying on it, we recommend you speak with a financial adviser.  This story reflects the views of the contributor only. Content comes from sources that we consider are accurate, but we do not guarantee that the content is accurate.


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