The average asking price of homes listed for sale on Trade Me Property broke through the $500,000 barrier for the first time in the three months to November.
Trade Me's head of property Nigel Jeffries said the average asking price of homes listed for sale on the website in the three months to the end of November was $509,750, up 13.7% versus the same quarter last year.
"There has been a resounding resurgence in the property market after a pretty subdued winter and that all adds up to good news for sellers and a bitter pill for buyers to swallow," he said.
All regions apart from the West Coast showed a year-on-year rise in average asking prices, ranging from 1.8% in the Waikato to 21.4% in Hawkes Bay.
In the main centres average asking prices were up 11.3% in Auckland, 6.9% in Wellington, 12.5% in Canterbury and 11.6% in Otago.
Jeffries said there were early signs that the pressure on the housing market in Christchurch could be starting to ease, with average asking prices for the three months to November up 12.5% compared to a year earlier, which was down on an annual increase of 13.5% for the three months to October.
The apartment market was particularly strong, with the national average asking price of apartments hitting a new record of $426,950 in the three months to November, up 14.9% on a year earlier.
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5 Comments
Of the main cities I like welly the most. National govts are never the best for welly (esp after gfc) as they try to reduce public services and place the remaining into smaller and smaller offices (stout st). Don't know if they'll have a 4th term, history would suggest it'll be labours turn again in a few years time, which will see public sector expansion once again which will stoke welly. Thats ignoring the IT sector in welly which is still growing strong and has more legs than the finance sector in a small but innovative country like NZ. Not a bad time to get into welly at all for mine.
Still plenty of nice houses in Hamilton under $500K selling and others waiting to be sold.New suburbs seem to be expensive but in older suburbs the asking prices seem to be pretty good.Saw one on Saturday,in Dinsdale,high on hill,double basement garage and room underneath for $425K.Bargain in my opinion.
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