September sees surge in listings and asking price
New listings surged in September and the mean asking price rose $10,000 to 3.4% above last year and just 1% below the peak asking price in April this year.
Monday, October 3rd 2011, 12:18PM
by The Landlord
Figures released from Realestate.co.nz revealed that in September the truncated mean asking price for all new listings rose from $415,078 in August to $425,565.
While acknowledging a seasonal asking price rise trend, the report said "this year that seasonal result is somewhat more significant and could result in a new peak of asking price."
The amount of new listings coming onto the market was also in line with seasonal trends at 11,117 new properties, a 5% year-on-year increase.
September also saw a rise in the number of unsold houses on the market, with 46,299 houses, apartments and lifestyle properties on the market, up from 44,689 in August.
The report also examined asking price movements across the country. The national asking price rose significantly, a trend seen in 17 of the 19 regions, with the biggest rises seen in Auckland, Manawatu/Wanganui, Canterbury and the West Coast, all exceeding 5% growth as compared to the recent three month average.
Just two regions saw asking price falls, Marlborough, down 1.6%, and Southland, down 7.9%.
Realestate.co.nz said the market is now firmly in favour of sellers across the majority of the country, with 11 of the 19 regions below long term inventory levels.
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