PHOTO: Photo: RNZ / Claire Eastham-Farrelly
New property data shows the number of houses available to purchase in the country is the lowest its been in 14 years.
The data by realestate.co.nz revealed July was another record breaking month for the housing market.
The national average asking price reached an all time high and there are now only 12,684 homes available to purchase across the country, down 34.8 percent on this time last year.
Realestate.co.nz ‘s Vanessa Williams said the low stock had driven the average asking price up to $893,794.
Data showed Coromandel, Northland, and Nelson & Bays have seen their available housing stock more than halve in a year, dipping 60 percent,53.6 percent, and 53.5 percent respectively.
Williams said the Wairarapa was the only region to see an available housing stock increase – up 13 percent on last year.
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