Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


2014 starts with lowest new property listings in 7 years

MEDIA RELEASE

2014 starts with lowest number of new property listings in seven years

Asking prices eased in the last month of 2013 as new listings fell to record lows

AUCKLAND, 8 January 2014 – The New Zealand property market registered the lowest number of new listings in December, foreshadowing a potential housing stock shortage in early 2014.

Data released today by Realestate.co.nz in the NZ Property Report shows that the number of new property listings is 6% down on the same time last year. With just 8,010 new properties, it is the lowest number of new listings on record since Realestate.co.nz started surveying the market in 2006. The previous low was recorded in January 2011.

Asking prices eased across the country to levels not seen since June 2013, down 6% for the month to $451,448. Following the record high asking prices recorded in October, this ease in asking prices will be welcome news to buyers looking for a home at the start of 2014.

Year on year, asking price is still continuing along an upward trend. December’s national average is up 7% from last year. “Trend-wise, we’d expect recovery in these lower December asking prices and expect to see price averages increase throughout the start of 2014,” said Paul McKenzie, Marketing Manager at Realestate.co.nz.

In the regions, both Taranaki and Canterbury saw record high asking prices in contrast to the rest of the country, up 5.1% and 1.6% respectively. McKenzie said, “those looking at property in the Coromandel during December were in a good position” with the region experiencing a fresh new surge of listings and a 12.8% decrease in average asking price. Listings in the Coromandel were up by 16.6%. Waikato experienced a 10.2% asking price decrease; with Marlborough also seeing a significant decrease in asking price – down by 9.6%.

Record low listing numbers were driven by record lows in Auckland, Wellington, Hawkes Bay and Otago. “This will put pressure in those areas – particularly in Auckland,” says McKenzie. Auckland experienced a significant 57% decrease in new listings compared to the prior month and an 8% decrease compared to the same time the year before. December 2013 saw just 1,897 new listings in the Auckland market, compared to 4,432 new listings the prior month.

Across the country, 13 regions overall saw a decrease in new listings compared to the prior year.

Overall for 2013, there were 131,474 new properties coming on the market in New Zealand. This was a drop of just 0.4% from the prior year. “When compared to the peak seen in 2007, last year’s new listings were down by a considerable 26%” said McKenzie.

Realestate.co.nz is the official online property listing website of the New Zealand Real Estate Industry, profiling listings of licensed real estate agents with more than 100,000 listings covering residential, commercial, business and farms for sale.

The November 2013 issue of the NZ Property Report, a monthly report of housing market activity compiled by Realestate.co.nz, can be found along with additional analysis of the property market at www.unconditional.co.nz, the news and information website for New Zealand real estate.

NZ_Property_Report__8_Jan_2013_Realestate.co.nz.pdf

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Extended Cease Fire: Gaza Celebrates!!!!

Images and video from Gaza.Scoop - Julie Webb Pullman in Gaza.

Gazans took to the streets tonight to celebrate their victory in achieving the end of hostilities and the lifting of the illegal seven-year siege. Whatever tomorrow may bring, tonight was a time to rejoice! More>>

Details:

 

Parliament Today:

Collins 'Misinterprets Media Reports': "Too Compromised To Remain Justice Minister"

Bizarre claims by Judith Collins this morning that she had been cleared of inappropriate behaviour by the Privacy Commissioner demonstrates she is too compromised to remain Justice Minister, Labour MP Grant Robertson says. More>>

ALSO:

Labour On Climate Change: Focus On The Now For The Future

A Labour Government will put in place a comprehensive climate change strategy focusing on both mitigation and adaptation, establish an independent Climate Commission and implement carbon budgeting, says Labour Climate Change spokesperson Moana Mackey. More>>

ALSO:

Gordon Campbell: On National’s Housing Assistance Plan

So, as many as 90,000 people could derive some benefit from National’s housing assistance plans for low and middle-income earners... Yet in reality, the benefits seem likely to be insignificant, and they will be skewed towards those at the top end of the income group that’s supposedly the target. More>>

ALSO:

Election Data Consortium: National’s Worst Case Scenario At Stage One?

A month out from the general election and ipredict traders are still forecasting National’s vote to slip below current polling levels and there is potential for it to fall further. More>>

ALSO:

From The Scoop Video Archive: PM Says SIS "Told Me" About OIA Release

In a press conference immediately following an controversial OIA release of notes on an SIS briefing to then Labour leader Phil Goff, Key said "at that point [Tucker] told me he'd release it ...". Since the release of Nicky Hager's 'Dirty Politics' Key has denied being personally informed and said references by officials to 'the PM' being told briefed referred to his office. He now says the same about his own statement. More>>

ALSO:

  • Scoop Video in the news - New questions over Key claims | NZ Herald News - Stuff.co.nz
  • Earlier - Felix Marwick: Laying out facts over SIS documents - Newstalk ZB
  • Labour - Director’s letter contradicts Key’s claims
  • ACT - The Letter - 26 days to go
  • TV3 Video - Housing issue nudges Dirty Politics aside - David Cunliffe: Key's SIS explanation 'defies belief' - SIS leak came from Key's Office - Goff - Key 'categorically denies' Slater OIA discussion - Video: Key faces more Dirty Politics questions

  • TVNZ - Winston Peters: ‘Dirty Politics' is a new low
  • The Nation - Debate Between Grant Robertson And Russel Norman
  • NZ First - “The Words Mean What I Say They Mean”
  • Schools, PPTA Sign Up: Primary Teachers And Principals Vote Down Govt Plan

    Teachers and principals have voted overwhelmingly against the Government’s controversial “Investing in Educational Success” policy, including proposed highly-paid principal and teacher roles. More>>

    ALSO:

    Gordon Campbell: On The Usual Round Of Mud Slinging And Name-Calling

    This week gave an interesting example of how hard it is to untangle the reality from the slanging matches. The issue that emerged early this week could hardly be more important. Does the government intend to cut spending in health, education and on the environment if re-elected, or not? More>>

    Earlier:

    Electionresults.co.nz: National and NZ First Rise in Roy Morgan Poll

    National has bounced back in the latest Roy Morgan Poll but the big winner has been New Zealand First who rise to their highest level of support since September 2013. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
    Regional
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news