{"id":31589,"date":"2021-04-06T09:05:34","date_gmt":"2021-04-05T21:05:34","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=31589"},"modified":"2024-03-01T20:46:19","modified_gmt":"2024-03-01T07:46:19","slug":"new-zealand-asking-prices-up-16-9-nationally-realestate-co-nz","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/new-zealand-asking-prices-up-16-9-nationally-realestate-co-nz\/","title":{"rendered":"New Zealand asking prices up 16.9% nationally | realestate.co.nz"},"content":{"rendered":"

PHOTO: Sarah Wood, CEO of realestate.co.nz<\/strong><\/p>\n

Lift in new listings welcome news for buyers<\/strong><\/p>\n

Property prices<\/a> showed no signs of slowing down during March, according to latest figures from realestate.co.nz.<\/p>\n

Real-time data shows that average asking prices were up 16.9% year-on-year in March, with 14 of 19 regions hitting record asking price highs.<\/p>\n

The national average asking price for Kiwi properties last month was $834,769 \u2013 costing on average $120,449 more than the same time last year.<\/p>\n

However, there is good news for buyers in some parts of New Zealand.<\/p>\n

\u201c12 of our 19 regions saw a lift in new listings last month compared to March 2020,\u201d says Sarah Wood, CEO of realestate.co.nz.<\/p>\n

\u201cAlthough we still have a stock shortage around the country, it was encouraging to see pockets of increased vendor activity during March.\u201d<\/p>\n

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Record high asking prices in 14 of 19 regions<\/strong><\/p>\n

Average asking prices were up year-on-year in every region across the country last month, with all but five regions reaching all-time asking price highs.<\/p>\n

\u201cWe\u2019ve rarely seen this many record highs in one month,\u201d says Sarah.<\/p>\n

\u201cOnly time will tell what impact the Government\u2019s recent housing announcement will have, but these figures highlight the need for measures to help cool the market.\u201d<\/p>\n

Northland, Auckland, Waikato, Bay of Plenty, Gisborne, Hawke\u2019s Bay, Taranaki, Wellington, Nelson & Bays, Canterbury, Southland, Wairarapa, Central North Island and Manawatu\/Whanganui all reached peak asking prices since records began 14 years ago.<\/p>\n

The biggest increase was seen in\u00a0Central North Island<\/strong>, where the average asking price climbed to $736,259 \u2013 up 41.5% from $520,421 in March 2020.<\/p>\n

\u201cAlthough this might be welcome news for sellers, Central North Island is a small region and when we see a number of large, high-value lifestyle properties coming onto the market that can push the average asking price up,\u201d cautions Sarah.<\/p>\n

While\u00a0Marlborough<\/strong>\u00a0didn\u2019t achieve a record high in March, the region showed the next largest growth with prices up 37.6% year-on-year. This was followed by\u00a0Gisborne<\/strong>, where average asking prices were up 32.2%, and\u00a0Wairarapa<\/strong>, which showed a 29.3% year-on-year increase.<\/p>\n

In\u00a0Auckland<\/strong>, the average asking price tipped over $1.1 million for the first time, despite a 24.0% increase in new listings. A property in the super-city now costs on average $1,100,593.<\/p>\n

\"Asking<\/p>\n

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Vendors active around the country \u2013 but will buyers get any relief?<\/strong><\/p>\n

Data from realestate.co.nz shows that vendors were busy putting their homes on the market last month, with 11,322 properties listed for sale during March.<\/p>\n

Nationally, new listings were up 12.0% on the same time last year; 12 of 19 regions saw a lift in new listings compared to March 2020.<\/p>\n

The most significant year-on-year increases were seen in West Coast, Central North Island and Southland, where new listings were up 26.8%, 26.6% and 25.3% respectively.<\/p>\n

\u201cThis will be welcome news for buyers, who have been faced with little choice over recent months,\u201d says Sarah.<\/p>\n

Eight regions saw year-on-year increases in total stock: Northland, Auckland, Gisborne, Taranaki, Otago, Southland, Central Otago\/Lakes and Marlborough.<\/p>\n

\u201cOver the last year we\u2019ve repeatedly been seeing total stock lows across the country. So, although our national inventory of properties is still down 6.1% compared to March 2020, it\u2019s promising to see stock starting to level out in parts of New Zealand,\u201d says Sarah.<\/p>\n

\"Housing<\/p>\n

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Prices in Taranaki reach 14-year high; lift in listings silver lining for buyers<\/strong><\/p>\n

Mirroring national trends, average asking prices in Taranaki have increased 16.9% over the last year. Reaching an all-time high in March, the average price tag for a home in the region is now $535,344.<\/p>\n

\u201cHome buyers in Taranaki can expect to pay on average $77,293 more for a home than they did at the same time last year,\u201d says Sarah.<\/p>\n

But there is some positive news for those in the market to buy: 255 new listings came onto the market in March, a 15.9% increase on February and up 5.8% compared to the same time last year.<\/p>\n

\u201cBuyers in Taranaki had a lot more choice last month, with the highest inventory we\u2019ve seen since June last year,\u201d Sarah notes.<\/p>\n

\u201cTotal stock was up 41.3% on February; that\u2019s welcome news for buyers, who will be hoping that more listings will ease price pressures.\u201d<\/p>\n

During the month more than 27,500 users searched for property in the Taranaki region on realestate.co.nz \u2013 with Hawera, Waitara and Opunake the most sought-after locations.<\/p>\n

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\"Asking<\/p>\n

\"Inventory<\/p>\n

\"Property<\/p>\n

ENDS<\/strong><\/p>\n

SOURCE:\u00a0 realestate.co.nz<\/a><\/p>\n

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