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

Anzac Issue Out Now: Werewolf 47

Alison McCulloch: Lest We Remember

Local iwi have plans to spruce up the Te Ranga site as part of the 150th commemorations this year of key battles in the “New Zealand Wars”, but not a lot of money to do it with.

Information gathered from numerous government agencies shows that while more than $25 million is being spent on monuments and commemorations relating to foreign wars, primarily World War I and its centenary, only around $250,000 has been set aside for those fought on our own soil. More>>

Anne Russell: Anzac Day - Identity Politics, With Guns

Even cursory research into media reports from the past forty years reveals a cultural shift in the commemoration of Anzac Day. Among other things, turnout at Dawn services has increased significantly in recent decades.

Contemporary numbers are estimated at 3,000-4,000 in Wellington, and 10,000-15,000 in Auckland. Newspaper reports from the 1970s and 80s estimated Wellington turnouts at 300-800, and Auckland at anywhere from 600 to 4,000. More>>

 
 

Parliament Today:

Spookwatch: New Inspector-General Of Intelligence And Security Appointed

Prime Minister John Key hasannounced the appointment of Cheryl Gwyn as Inspector-General of Intelligence and Security. The appointment was made by the Administrator of the Government on behalf of the Governor General and is for a term of three years. More>>

Crowdsourcing: Green Party Launches Internet Rights And Freedoms Bill

The Green Party has today launched the Internet Rights and Freedoms Bill, New Zealand’s first ever Bill crowdsourced by a political party. More>>

ALSO:

Gordon Campbell: On The Shane Jones Departure

Shane Jones has left Parliament in the manner to which we have become accustomed, with self interest coming in first and second, and with the interests of the Labour Party (under whose banner he served) way, way back down the track. More>>

COMMENT:

Multimedia: PM Post-Cabinet Press Conference - April 22 2014

The Prime Minister met with reporters to discuss: • The recent improvement in the economy with a growing job market • Income and wealth inequality • Easter trading laws • The New Zealander killed in a drone strike in Yemen... More>>

ALSO:

Easter Trading: Workers 'Can Kiss Goodbye To Easter Sunday Off'

The Government’s decision to “reprioritise” scarce labour inspector resources by abandoning the enforcement of Easter Sunday Shop Trading laws means workers can kiss goodbye to a guaranteed day off, says Labour’s Associate Labour Issues spokesperson Darien Fenton. More>>

ALSO:

ACT Don't Go For Maximum Penalty: Three Strikes For Burglary, Three Years Jail

Three strikes for burglary was introduced to England and Wales in 1999. As in New Zealand, burglary was out of control and given a low priority by the police and the courts. A Labour government passed a three strikes law whereby a third conviction for burglaries earned a mandatory three years in prison... More>>

ALSO:

Gordon Campbell: On Drone Strikes And Judith Collins‘ Last Stand

The news that a New Zealand citizen was killed last November in a US drone attack in Yemen brings the drones controversy closer to home. More>>

ALSO:

Elections: New Electorate Boundaries Finalised

New boundaries for the country’s 64 General and seven Māori electorates have been finalised – with an additional electorate created in Auckland. More>>

ALSO:

Policies: Labour’s Economic Upgrade For Manufacturing

Labour Leader David Cunliffe has today announced his Economic Upgrade for the manufacturing sector – a plan that will create better jobs and higher wages. More>>

ALSO:

Gordon Campbell: On The Life And ACC Work Of Sir Owen Woodhouse

With the death of Sir Owen Woodhouse, the founding father of the Accident Compensation Scheme, New Zealand has lost one of the titans of its post-war social policy. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news