PHOTO: Two main regions, Wellington and Otago, recorded all-time high average asking prices and had an influence on the national average asking price.
One year ago (December 2017) the national average asking price for a home was $660,798 on realestate.co.nz, the country’s largest property listing site. One year later (December 2018) it sits at $673,043.
This 1.9% price increase is the lowest (year-on-year) for any December since 2012.
“While this may well be a correction rather than a trend, this past year has seen the market stabilise compared to the extremes of previous years,” says realestate.co.nz spokesperson Vanessa Taylor.
“We have had fluctuations in average asking prices throughout 2018 and in fact the national average asking price in December was 3.0% up on the previous month (November 2018).
“However, the modest 1.9% December 2018 increase compared to December 2017 reflects a smoothing out, compared to the upward trajectory of recent years.”
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