Auckland's average asking price has lifted as stock levels reduce
The latest statistics from realestate.co.nz site report an increase in buyer activity, a lift in asking prices and a drop in new listings - this could indicate that we have a classic supply and demand situation.
The total number of properties available for sale nationally fell 3.8% (21,288) compared to the same month in 2017. Asking prices increased marginally across the country (0.9% compared to June 2018).
In Auckland, the average asking price lifted for the first time in four months. Now sitting at $959,067, it’s comparable to the February 2018 asking price of $961,940.
Nationally, new property listings were down 5.4% compared to July 2017, with 7,508 new listings coming onto the market this past month.
Auckland recorded a 7% decline in new listings when compared to the same time last year.