PHOTO: realestate.co.nz
Four regions saw an all-time high average asking prices, while four other regions registered all-time low new listing numbers.
When realestate.co.nz started collecting data 12 years ago (2007), the average asking price for a home in New Zealand was $410,666.
By June this year, it had climbed to $659,422 which is a 60.6% increase.
New listings painted the opposite picture, falling from 12,345 in January 2007 to 7,545 in June 2019. This represents a 38.9% drop over this period.
“The property market changes month to month however looking back over an extended period of time it always paints an interesting picture”, says realestate.co.nz spokesperson Vanessa Taylor.
Record average asking prices set for Wellington, Manawatu-Wanganui, Canterbury and Southland regions.
June’s average asking prices in Southland increased by 1.6% compared to the previous month to $350,321.
“The Southland region also recorded a modest increase, tipping over the $350,000+ mark for the first time which is significant for our most southern region,” says Vanessa.
READ MORE VIA REALESTATE.CO.NZ