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

 

PARLIAMENT TODAY:

  • Week in Parliament 22-05-15
  • Saturday Sitting
  • House Rises At Midnight
  • Telco Levy Bill Passes
  • Telco Levy Bill Completes First Reading
  • Social Housing Bill Passes Under Urgency

  • Labour Party: McCully Doesn’t Deny Bribe In Saudi Sheep Scandal

    “In Parliament today I asked Murray McCully directly: Why is he the first Minister in history to back a multi-million dollar facilitation arrangement which in other jurisdictions is called a bribe? says Labour’s Export Growth and Trade spokesperson ... More>>

    ALSO:

    Welfare: Closure Of Relationships Aotearoa

    The Aotearoa New Zealand Association of Social Workers (ANZASW) Chief Executive Lucy Sandford-Reed is concerned about the closure of a national service which provides a wide range of services to rural and urban communities throughout New Zealand. More>>

    ALSO:

    TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>


    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:

    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Regional
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news