realestate.co.nz says the property market is on holding awaiting election outcome
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The New Zealand property market is in a “wait and see” mode as coalition talks between major parties continue this week.
Realestate.co.nz spokesperson Vanessa Taylor said real time statistics show new listings, total stock and demand are down for September for the whole of New Zealand.
Nationwide new property listings in September fell 11.8% to 9,283 compared to September 2016.
There has been a little movement in the average national asking price, which is sitting at $617,971.
“Prices have generally remained static, with only the Southland, Northland and Marlborough regions registering significant increases in asking prices when compared to last month.
“In a tight supply environment where there is a shortage of stock, it would be natural for buyers and sellers to assume that asking prices would be more likely to trend upwards,” Taylor said.
The Auckland, Waikato, Wellington and Bay of Plenty regions, which were previously the “buyer hot spots,” are currently sitting at the bottom of the demand table.
The Auckland region took the bottom spot on the demand table with 18.6%. Wellington dropped by 15.7%, the Waikato dropped by 14.6% for Waikato and Bay of Plenty by 10.4%.
Related stories:
Auckland property values down
Property Institute predicts property market changes post-elections
Realestate.co.nz spokesperson Vanessa Taylor said real time statistics show new listings, total stock and demand are down for September for the whole of New Zealand.
Nationwide new property listings in September fell 11.8% to 9,283 compared to September 2016.
There has been a little movement in the average national asking price, which is sitting at $617,971.
“Prices have generally remained static, with only the Southland, Northland and Marlborough regions registering significant increases in asking prices when compared to last month.
“In a tight supply environment where there is a shortage of stock, it would be natural for buyers and sellers to assume that asking prices would be more likely to trend upwards,” Taylor said.
The Auckland, Waikato, Wellington and Bay of Plenty regions, which were previously the “buyer hot spots,” are currently sitting at the bottom of the demand table.
The Auckland region took the bottom spot on the demand table with 18.6%. Wellington dropped by 15.7%, the Waikato dropped by 14.6% for Waikato and Bay of Plenty by 10.4%.
Related stories:
Auckland property values down
Property Institute predicts property market changes post-elections
