Trade Me Property: 'The Auckland Effect'

Bay of Plenty asking prices benefit from ‘the Auckland effect’

The phenomenon known as the ‘Auckland effect’ has infiltrated the Bay of Plenty property for sale market and it has become the second most expensive region to buy a house, according to October’s Trade Me Property Price Index.

Head of Trade Me Property Nigel Jeffries said the Auckland effect had seen average asking prices climb by $4,000 per month over the past year in the Bay of Plenty. “Prices have risen 25 per cent over the past five years, and the bulk of that has been since October 2012. Last month alone we saw selling price expectations for a typical property up by $11,400 since last month, breaking records and landing at a new high of $483,000.”

Full Report: http://www.trademe.co.nz/property/price-index/for-sale/october-2015/

ENDS

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