national average asking price


PHOTO: Nationally, there was a 2.5% fall in the total number of houses for sale in January compared with January 2018. The total number of houses for sale across New Zealand in January was 24,878.

The national average asking price for a Kiwi home is at an all-time high, since records began 12 years ago.

There is more choice for property hunters in the Auckland region, as new listings are up while asking prices stay static, but Kiwis’ passion for property remains strong.

Eight regions’ all-time asking price highs are the major driving force behind a new record high for New Zealand’s average asking house price.

“Auckland is not one of those regions, but has its own story to tell,” says spokesperson Vanessa Taylor.

Real-time statistics from the country’s largest property listing site show the national property asking price in January 2019 climbed 3.3% on the previous month to $695,116 – the highest on record.

Spokesperson Vanessa Taylor says when started collecting data 12 years ago (January 2007) the average national asking price for a property was $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.

“These eight regions paint an interesting picture. Typically, they have experienced a fall in new listings, and have low overall stock levels, which has helped vendors command handsome prices for their properties.

The eight regions that experienced all-time high asking prices in January were Waikato, Gisborne, Wellington, Nelson and Bays, Otago, Southland, Central North Island and Manawatu/Wanganui.