Latest property update - November

The traditional busy period of Spring has seen a good increase of listings coming on the market this year. Possibly due to more competition out there, the average asking prices nationally have eased from record highs in recent months, according to data from Realestate.co.nz.

In October, 13,405 new properties were listed which is a 12% increase compared to September.

The national average asking prices in many regions have leveled off in October after many months of consistent increases.

Auckland - the average asking price dropped to $832,713, after the record high of $851,531 in September.

Canterbury - the average price dropped to $467,403 after their record high of $476,818, also recorded in September.

Wellington - the average asking price dropped to $457,028 from $479,399 in August

Waikato - the average asking price in October was $397,991, down from $403,640 in August.

Shannon CorbettComment