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01-05-2013

Asking prices climb

Landlords.co.nz

Sellers’ house price expectations have shown no sign of slowing in the latest report from Realestate.co.nz

The property website reported a new record asking price of $47,275, up 6% on the same time a year ago.

But the squeeze is still on available listings. New listings were down 1% in April on the same time a year ago and dropped more than 20% from March.

Northland had the biggest drop in new listings over the month, of almost 45%, followed by the West Coast with 35.8% and Hawke’s Bay with 24.4%. Auckland had a 9.3% increase in new listings compared to the same time a year ago.

Realestate.co.nz marketing manager Paul McKenzie said while Auckland’s new listings were improving, the past month had been strong for sales, which had reduced inventory numbers further. “Things definitely got tighter in the past month.”

Sales increased year-on-year by 11%.

McKenzie said that while winter would usually be a slower time for sales, this year buyers were showing no signs of hibernating. Last month, page views increased month-by-month through winter and he was expecting the same this year.

\Only three regions reported significant decreases in asking price: Northland’s dropped by more than 10%, Marlborough’s by 9% and Coromandel’s by 6.2%.Auckland’s asking price was flat.

Gisborne reported an 8.5% lift in asking prices and Central Otago/Lakes reported a 12.4% lift.

New listings were up almost 20% on 2012 but lifestyle block listings fell by almost a quarter.

Source: Landlords.co.nz

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