tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, May 21st, 9:03AM

News

rss
Latest Headlines

10 regions hit record high sales prices

The low number of available properties for sale have made the residential housing market a vendor’s paradise.

Monday, November 1st 2021, 5:00PM

by Sally Lindsay

According to the latest data from realestate.co.nz listings are still down 16.1% compared to October last year. The website had its second biggest month of the year with 1.35 million visitors eyeing up properties.

For many years, supply has not met demand, but there are signs of a shift with a small increase in lower North Island listings last month compared with September.

“This could mean one of two things, that either demand is cooling in these regions, or more properties are being listed. Our site data suggests the latter,” says Vanessa Williams from realestate.co.nz.

In the past, Auckland had led the way a rise in listings, but it now seems Wellington and the surrounding regions are leading the charge with stock availability, she says.

Realestate.co.nz has about 97% of all properties listed through licensed real estate agents in New Zealand.

The average asking price for a house in October was just below $1 million at $993,135. Ten regions hit a 14-year record-high average asking price.

Central Otago Lakes district had the biggest increase in asking price, up 41.9% from October last year to reach $1,423,038.

The region is the most expensive in the country. The listing prices there went up on average by $200,000 in September, Williams says this figure may have been elevated by a “handful of lakeside properties hitting the market”.

No regions went backwards year-on-year, but Canterbury, Southland, Otago, West Coast and Taranaki’s asking prices all dropped more than 1% in September on the month before.

Auckland had record asking prices, up 21.3% to $1,230,163, not much under Otago Lakes District, followed by Wellington rising 24% to $961,799.

Central North Island topped the charts with a rise of 37.2% to $794,975 on last October. Wairarapa was up 34% to $810,790, Hawke’s Bay up 28% to $843,306.

Waikato and Manawatu rose 27.1% and 26.5% with asking prices of $865,592 and $659,622 respectively. The asking price in Bay of Plenty was near to Wellington’s at $945,971, up 21.4%.

The West Coast is still the most affordable region to buy a house.

The average asking price there was $379,520, but rising 20% when compared to October last year.

« House price growth on the downward slideThe tide is turning on house prices »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 ▼6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 ▼6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - ▼7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 ▼7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼6.79 - -
Co-operative Bank - Owner Occ 8.40 ▼6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 ▼7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 ▼6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 ▼7.74 7.29 6.59
SBS Bank Special - ▼7.14 6.69 5.99
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 ▼6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.35 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.75 6.65
Median 8.64 7.21 7.29 6.65

Last updated: 20 May 2024 10:01am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com