Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New listings growth seen as buyer interest surges

MEDIA RELEASE

New listings growth seen as buyer interest surges to record high

AUCKLAND, 3 February 2014 – Record traffic numbers to Realestate.co.nz’s various sites indicate a current increase in buyer interest and demand for homes. Over 1.65 million visitors browsed for property in January on their sites (Source: Google Analytics).

A healthy flow of new listings has brought some reprieve from last month’s seven-year record low of 8,010. Thirteen of the 19 regions have seen a year-on-year increase in listings. 9,267 new listings came on the market – up 4.7% from January 2013, and up 15.7% from December 2013. January 2014 saw the highest number of new listings for a January month since 2010.

The Coromandel region saw the most significant increase in listings of all the 13 regions reporting higher listings, up 39.8% compared to last year. Noteworthy listing increases also occurred in Central North Island, where listings climbed by 29% and Waikato, where a 24.8% increase was seen.

Average asking prices for properties are up across the country, with record asking prices recorded in Canterbury and Otago, being $449,149 and $304,720 respectively. The national asking price grew again in January, to $476,797, from the fall seen in December, nearing the national record asking prices from October 2013.

In the other main centres, both Auckland and Wellington reported increases in average asking price this month compared to the end of 2013. Auckland’s asking price is sitting just below the record set in October last year, rising 1 per cent compared to last month, to $663,372. Wellington’s asking price rose 4.2 per cent to $463,912.

Eleven regions witnessed asking price falls. Most significant falls were recorded in Central Otago/Lakes, falling 9.2% to $619,516 and Wairarapa, falling 7.2% to $265,828.

The data released today by Realestate.co.nz shows that inventory has recovered to 26.8 weeks of stock. This level of stock hasn’t been seen in equivalent since April last year. While this inventory increase was seen in 13 of the 19 regional markets, Paul McKenzie, Realestate.co.nz marketing manager says “the market remains firmly a seller’s market with inventory remaining well below the long-term average of 37 weeks of equivalent sales”. The level of unsold houses on the market at the end of January (40,219) was up from 38,804 compared to December 2013.

“Trend-wise, we expect to see a significant increase in new property listings next month” says McKenzie.

Historical data indicates new property listings peak in February/March and then again in October.

“It will be interesting to see how site traffic numbers are affected with a predicted rise in new property listings,” said McKenzie.

- ENDS -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news