PHOTO: realestate.co.nz
The Auckland region’s average asking price drops below $900,000 for first time since 2016, and new listings are down across the country.
All-time asking price highs for Hawke’s Bay, Coromandel and Manawatu/Wanganui regions, since our records began in 2007.
The Auckland region’s average asking price in April dropped to its lowest level since 2016 and houses are taking longer to sell according to real-time statistics from realestate.co.nz.
The region’s average asking price fell 4.5% to $899,916 compared to the prior month and 5.8% compared to the same month in 2018. *The all-time high average asking price for the Auckland region was $982,673 in December 2017.
“We have left behind the frenetic market of 2014 to 2017 where asking prices spiralled dramatically upwards, largely underpinned by fierce competition in the market and an increase in local and offshore investors,” says realestate.co.nz spokesperson Vanessa Taylor.
“We’ve now had two years of stable pricing with a dip in average asking prices in the Auckland region this year,” says Vanessa.
READ MORE VIA REALESTATE.CO.NZ