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

 

Average asking of homes remains high

Average asking of homes remains high

AUCKLAND, 20 August 2014

Home sellers are still expecting near record prices for their homes, according to figures released by Realestate.co.nz, the website with New Zealand’s largest number of homes for sale.

The national average asking price is $488,711, only 0.4% lower than the all-time record achieved in June. Three individual regions achieved new record high asking prices in July. On average, sellers in Waikato want $394,806 for their homes, marginally higher than the previous high achieved in March this year. In Canterbury the new average asking price of $461,032 is about 2.6% above the record from January. However, these figures pale against the high of $782,682 in Central Otago – a price that outstrips the record set in May 2013 by nearly 10%.

Not only the asking price, but the number of listings in Central Otago has grown significantly, with nearly 13% more properties on the market than July last year. While the total number of newly listed properties for sale around the country exceeds the total for June, it is still not as high as at the same time last year.

“The number of listings should be seen as indicative of the usual seasonal cycle,” says Paul McKenzie, Marketing Manager at Realestate.co.nz. “Every year, we see a surge in the number of properties in the market when spring comes around, and there is every reason to expect that the same will happen in August and September this year.”

The total number of homes for sale on http://www.realestate.co.nz/ this July was 39,906. This is about 3,500 more than in July 2013.

About Realestate.co.nz
Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings across all categories of real estate. Realestate.co.nz lists more than 130,000 properties each year, representing more than 96 per cent of all listings currently marketed by real estate professionals.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fletcher Whittled: Fletcher Dumps Adamson In Face Of Dissatisfaction

Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, as the company slashed its full-year earnings guidance and flagged an impairment against Australian assets. More>>

ALSO:

No More Dog Docking: New Animal Welfare Regulations Progressed

“These 46 regulations include stock transport, farm husbandry, companion and working animals, pigs, layer hens and the way animals are accounted for in research, testing and teaching.” More>>

ALSO:

Employment: Most Kiwifruit Contractors Breaking Law

A Labour Inspectorate operation targeting the kiwifruit industry in Bay of Plenty has found the majority of labour hire contractors are breaching their obligations as employers. More>>

ALSO:

'Work Experience': Welfare Group Opposes The Warehouse Workfare

“This programme is about exploiting unemployed youth, not teaching them skills. The government are subsidising the Warehouse in the name of reducing benefit dependency,” says Vanessa Cole, spokesperson for Auckland Action Against Poverty. More>>

ALSO:

Internet Taxes: Labour To Target $600M In Unpaid Taxes From Multinationals

The Labour Party would target multinationals operating in New Zealand to ensure they don't avoid paying tax if it wins power and is targeting $600 million over three years through a "diverted profits tax," says leader Andrew Little. More>>

ALSO: