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The property market levelling off in flight mode
The property market levelling off in flight mode
Please find attached the latest Trade Me Property Rental Index for September.
What we’re seeing
- The New Zealand property market is levelling off after some incredible growth. Average asking prices were up just 0.6 per cent on August.
- Looking across the last year the overall asking prices are up 6 per cent, while that’s impressive it’s pretty calm compared to the 10 and 16 per cent annual increases in previous years
- Auckland has seen a big slowdown too – average asking prices are up 12 per cent which is pretty low compared to the 20+ per cent jumps seen recently
- BOP and Waikato have been surging with both regions hitting records
- Urban properties have slowed right down too with Auckland apartments showing just 2.8 per cent growth after 40 per cent increases in the last year.
TMP_Price_Index_September_16__The_property_market_leveling_off_in_flight_mode.pdf
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