colinrealestate

New listings rose during September with an increase of 7.6% on August but up only 0.3 when compared to September last year. The early spring property market continues to show signs of confidence and heightened activity. Confidence amongst sellers bringing their properties onto the market stabilised in September, with the truncated mean asking price steadying at $429,312.

Asking prices expectations were strong across the country up 0.9% compared to a year ago.

Inventory levels across the country remain low, and the market remains a firm sellers’ market across 15 of NZ’s 19 regions, and overall stocks of unsold houses fell slightly to 30.5 weeks of inventory (long term average = 40 weeks). Auckland is the most affected by low inventory levels, with stocks of unsold houses falling to a new low of 17.4 weeks of inventory, well below the long-term average of 32 weeks. The national mean asking price expectation among sellers fell slightly in September by 0.3% to $429,312.

Regionally: In the main centres, both Wellington and Canterbury saw increases in September, with Wellington increasing 3% to $447,388. The asking price in Auckland witnessed a slight fall in September (down 1.8% to $574,798).

In total, ten regions reported asking price increases, and four regions saw rises greater than 5%. The most significant rises were seen in the Coromandel, Central North Island, Taranaki, West Coast and Nelson regions, with Nelson showing the largest increases, up 10% to $455,705.

Of the nine regions witnessing asking price falls on a seasonally adjusted basis, there was just one reporting a fall greater than 5% with Manawatu / Wanganui seeing a fall of 7.4%.

Filed under: REAL ESTATE | Tagged: Real Estate