Record New Zealand average property asking price

Posted by Dynon on May 17, 2015

Versailles.jpgThe average national real estate asking price climbed to new national record of $521,729 in April, while new listings and total inventory plummeted, according to figures cited in a recent media release.

The latest monthly property data from the official website of the New Zealand real estate industry, showed that Auckland continued to be the main driver in the overall national increase. The city’s average asking price rose by 3% to a new high of $789,581, while ironically no other region experienced a new record in average asking price in April.

In fact, most parts of the country experienced little change – or even decreases – in their average asking price during the month. “In Wellington the average asking price dropped slightly by 1.4% to $455,611,” noted the press release, “while Canterbury also experienced a small decrease of 0.8% to $463,175.”

The biggest drops occurred in Central Otago where the average asking price in April fell to $604,729 – a decrease of 17.3%. The average in Southland fell by 11% to $232,549.

Interestingly, says the number of new listings was the lowest recorded for April, with only 9,673 coming on to the market. In addition, the national average in overall inventory of available housing stock for sale declined to an all time low of only 21.3 weeks in April.

According to CEO of, Brendon Skipper, “The drop in listings coupled with the record low total inventory shows that sellers in many parts of New Zealand are experiencing very favorable conditions.”

[Image: Palatial prices asked in Auckland for commoner dwellings]