Asking prices reach new high
The national median price rose $33,000 to $415,000 (8.6%) compared to February 2013, areas across the country that saw increases were Waikato/Bay of Plenty, Hawkes Bay and Canterbury/Westland all reaching a new high medium price.
Sales volumes were down in February by 7.6% when compared to February last year, but up by 29.8% on January sales. There is evidence that the national sales volume is easing.
The lift in the national median price, particularly Auckland is a reflection of the price bracket that the sales are occurring. The most activity is in the $600,000 – $1 million price bracket. The first home buyers having reduced sales numbers within the lower bracket.
First home buyers are reported to be tentatively returning, some getting assistance from families and signs of some easing from bank lenders. However, sales volume for the first home buyer category, are still mixed across the country.
The national average asking prices of new listings rose to record levels in February. The seasonally adjusted asking price rose by 1% to $483,099, and is up 9% as compared to February last year. Auckland drove the national increase, reaching a new record average asking price of $677,370.
Filed under: REAL ESTATE