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

 


Residential asking prices reach new national high

MEDIA RELEASE

Residential asking prices reach new national high

AUCKLAND, 2 April 2014 –Average asking prices of newly listed residential properties across New Zealand rose to a new record high in March driven by renewed seller confidence in the major centres.

The record high average asking price of $484,263 – revealed today in the NZ Property Report, a monthy report of housing market activity compiled by Realestate.co.nz – was driven up by new record asking prices in Auckland ($683,169), Wellington ($469,487), and Waikato ($393,612).

The number of available homes for sale recovered slightly on the back of a healthy increase of new listings in Auckland, Wellington, and Christchurch. The national inventory of unsold homes on the market lifted by 8 per cent from the previous month to 28 weeks of stock, however still remains well below the long-term average of 37 weeks.

Realestate.co.nz Marketing Manager, Paul McKenzie, said seller confidence in the major centres is rising, buoyed by strong demand, suggesting that asking prices will continue to rise. Particularly notable is the asking price increase of over $5,000 in Auckland, where asking prices rose to a new record high of $683,169.

Record asking prices in March were seen in three regions, Auckland, Wellington and Waikato, Mr McKenzie said. Average Auckland asking prices rose by 12 per cent year-on-year, Wellington prices rose 7 per cent and Waikato prices 10 per cent.

In the past month, new property listings increased by 3 per cent, up from 12,167, countering the downward trend over the past year. New property listings of 12,488 in March are 1.9 percent lower than a year ago although significant increases were seen in Auckland, Wellington, Canterbury, Wairarapa and Gisborne. Auckland new listings increased by 5.2 per cent to 4,389, Wellington 10.8 percent to 1,136 and Canterbury 3.7 per cent to 1,453.

- ENDS -

NZ_Property_Report__2_Apr_2014_Realestate.co.nz.pdf

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Science Media Centre: Viral Science And Another 'Big Dry'?

"Potentially, if there is no significant rainfall for the next month or so, we could be heading into one of the worst nation-wide droughts we’ve seen for some time," warns NIWA principal climate scientist Dr Andrew Tait. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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