TradeMe Property figures show cooling housing market
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The national housing market is slowing down, especially for listed properties in Auckland and Christchurch, new data from TradeMe Property revealed.
Autumn figures showed that houses in Auckland were on the market for an average of 41 days this year compared to an average of 28 days for the same period in 2016 and in 2015. Houses in Christchurch were on the market for an average of 45 days compared to an average of 39 days in 2016, a report from the NZ Herald said.
Wellington was the only city to buck the trend with sales times dropping from an average of 50 days in 2014 to an average of 28 days this year.
The NZ Herald said these figures only reflected the wait time for properties listed on TradeMe Property and did not include previous listing the properties might have been on.
TradeMe head of property Nigel Jeffries warned that the warmer weather would not necessarily reverse the wait time.
Jeffries said spring was a competitive time for vendors to sell. “Spring is a great time because everything is starting to look greener and more inviting, but from what we've seen you shouldn't hang your hat on the 'only sell in spring' mantra,” he said.
Autumn figures showed that houses in Auckland were on the market for an average of 41 days this year compared to an average of 28 days for the same period in 2016 and in 2015. Houses in Christchurch were on the market for an average of 45 days compared to an average of 39 days in 2016, a report from the NZ Herald said.
Wellington was the only city to buck the trend with sales times dropping from an average of 50 days in 2014 to an average of 28 days this year.
The NZ Herald said these figures only reflected the wait time for properties listed on TradeMe Property and did not include previous listing the properties might have been on.
TradeMe head of property Nigel Jeffries warned that the warmer weather would not necessarily reverse the wait time.
Jeffries said spring was a competitive time for vendors to sell. “Spring is a great time because everything is starting to look greener and more inviting, but from what we've seen you shouldn't hang your hat on the 'only sell in spring' mantra,” he said.
