PHOTO: DAVID UNWIN/STUFF Realestate.co.nz’s January figures show tentative signs the housing market will come off the boil.
The new year has offered a glimmer of hope for beleaguered house hunters, as Palmerston North experiences a timely increase in new houses coming on to the market.
House prices in the region have been setting records at breakneck speed over the past couple of years. This comes as historically low levels of houses listed for sale has left desperate buyers making ever-higher offers to fend off competition.
Realestate.co.nz spokeswoman Vanessa Taylor said there were tentative signs the situation could be changing.
Although asking prices in the wider region levelled off, they were still rocketing up in Palmerston North, where the average asking price hit $534,635 in January, a 13 per cent increase on January 2019.
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