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Listings down, asking price eases

The number of properties being listed for sale dropped dramatically in December, the latest report from realestate.co.nz shows.

Thursday, January 9th 2014, 12:00AM

by The Landlord

The website reported 8010 new listings last month, down 6% from 2012 and a drop of 40% compared to November 2013.

It was the lowest number of new listings in seven years.

At the same time, asking prices eased to a level last reported in June 2013. The national seasonally-adjusted truncated mean asking price dropped 5.7% from November to $451,448.

Record asking prices were reported in Canterbury, where the average asking price of $443,750 was 14% up on December 2012, and Taranaki, where asking prices increased 22% on the year before to an average $344,910.

Auckland’s average asking price dropped marginally to $656,702. Wellington’s fell 2.7% to $445,351.

Northland had the largest increase in asking price, up 6.5% from November to $422,779 last month.

The most significant drops in listings were seen in Taranaki and Northland. Auckland recorded 1897 new listings in the month, down 8% from December 2012.

But new listings for apartments were up 8% year-on-year. The truncated mean asking price of new apartment listings rose to $422,712.

Lifestyle block listings dropped 31% compared to November, with an average asking price of $681,453 – up almost 10% on the same time a year before.

The available listings on the site would take 26.3 weeks to sell at current turnover rates, well down on the long-term average of 37.

« Fewer entry-level sales reportedNorthland baches' summer windfall »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.15 4.09 4.49
ANZ Special - 3.65 3.59 3.99
ASB Bank 5.20 4.15 4.09 4.39
ASB Bank Special - 3.65 3.59 3.89
BNZ - Classic - 3.65 ▼3.54 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 ▼4.15 ▼4.09 ▼4.39
HSBC Premier 5.24 3.35 3.35 3.35
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.34 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.59 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
Lender Flt 1yr 2yr 3yr
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.69 3.69 3.99
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.65 3.59 3.99
The Co-operative Bank - Standard 5.15 4.15 4.09 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.34 - - -
Westpac Special - 3.65 3.59 3.99
Median 5.35 4.15 4.09 4.19

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