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04-03-2014

Asking prices up, listing numbers down

Landlords.co.nz

Sellers were asking more for their properties than ever before in February, according to real estate listing website Realestate.co.nz.

The site reported a national, seasonally-adjusted mean asking price of $483,099.

Eleven regions across the country reported an increase in asking price, but it was driven by a big increase in Auckland.

Auckland had a new record asking price of $677,370, up 12% on the same time a year ago. West Coast also reported a new high, of $320,245, as did Wairarapa, at $329,396.

Of the eight regions that reported a fall in asking price, only one was of more than 5%. Coromandel’s asking price dropped 15% to $420,759.

But listings were not keeping pace.

Only 12,167 new homes came on to the market, 7% fewer than the number listed in February 2013. The number of listings in Auckland was down 5%.

The biggest fall in listings was in Coromandel, down 29%, and Otago, down 26%. Only Canterbury reported an increase in listings, with 3% more this year than last.

The level of unsold houses on the market at the end of February (41,731) was up, when compared to January (40,219). The inventory as measured in terms of equivalent weeks of sales fell in February to 25.9 weeks.

Tags: realestate.co.nz

Source: Landlords.co.nz

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