Latest property statistics - July 2016

The national average asking house price fell in July – the first decline in three months – while demand continued to rise.

Market statistics released by show that in July, the seasonally adjusted asking price for homes across the country fell by 1.3% when compared to June 2016.

Looking at demand, there was a 10.39% decrease in viewing sessions for Auckland properties on compared to July 2015 and users also dropped by 4.90%. Could this indicate the shine may have gone off the Auckland market?

However, nationally, demand increased by 14.48% when compared with July 2015. Auckland still continues its upward trend with the July average asking price at a record high of $898,562 (up 1.1% from the previous month).

There have been calls across the nation for measures to rein in house prices, but it may be that the market is actually self-correcting, albeit slightly, with buyers unwilling or unable to meet ever-increasing price rises.

Shannon CorbettComment