colinrealestate

The National asking price hits a new high of $466,526; this is driven by the seller’s confidence. The market still favours the sellers in most regions of New Zealand. Marlborough recorded an 18% increase; Canterbury up 3.2% increases compared to the prior months asking prices. (Realestate.co.nz)
Record high asking prices were across 14 regions, Waikato and Coromandel recording the highest increases. The national asking price remains strong up 9% compared to a year ago. The first months of spring have seen a steady flow of listings, up 3% on August 2013, but still down when compared to this time last year.
Over the last months we have seen the inventory levels of properties for sale at record lows, this has improved to 24.2 weeks of stock but well down on 38 weeks which is considered the long term average. Market Favours Seller however, “there are signs of a slowdown in the rate of sales volume growth. In August last year sales growth was running at 12% per annum and peaked at 33 % per annum in April. Now it has eased back to 9% per annum and is trending down’ as stated by Helen O’Sullivan (REINZ).

Filed under: REAL ESTATE | Tagged: Real Estate