property listings

PHOTO: Latest data from property listings website shows a 9 percent increase in new listings year-on-year. Photo credit: Getty Images.

New property listings have jumped, in what could be the first sign the property market is starting to turn in favour of buyers, the latest data shows.

The national average asking price for properties has reached $969,604, a 14-year high, up from $933,135 in October.

property slowdown

New Zealand’s property slowdown | CoreLogic

Releasing its November report on Wednesday, property listings website confirms nationwide property listings are up 9 percent year-on-year, marking a return to 2014 levels.

Coupled with the rise in new listings, national housing stock (the total number of homes remaining on the market over the month), is up 5.1 percent year-on-year.

Referring to Statistics New Zealand data showing 47,331 new homes were consented over the year to September, CEO Sarah Wood said the latest data indicates more choice for home-buyers over the coming months.