Vanessa Taylor

PHOTO: Vanessa Williams was on The AM Show.

The national average asking price for properties has moved up another notch, but prices in ten out of 19 regions dropped month-on-month, new data shows. May figures show the national average asking price reached a new high of $841,816, up from $838,290 in April – an annual increase of 15.3 percent.

Four regions – Auckland, Taranaki, Nelson & Bays and Otago – set a 14-year record for annual average asking price increases. Auckland reached $1.11 million, up 16.4 percent year-on-year, an annual dollar value increase of $157,642.

But while asking prices in every region have gone up year-on-year, month-on-month (April to May) prices in ten regions went backwards.

The biggest drop was in the West Coast, where the average asking price dropped 7.9 percent, to $331,025. Price drops between 0.7 percent and 3.6 percent were recorded in Wellington, Wairarapa, Manawatu/Whanganui, Northland, Southland, Bay of Plenty, Marlborough, Hawkes Bay and Coromandel.