The latest report from realestate.co.nz reaffirms a shortage of listings throughout the country, which is a contributing factor to Auckland’s high asking prices.
The number of new listings of homes for sale across New Zealand in March was 11,870 (a decrease of 4.9% from March last year). This is the lowest number of new listings for the month of March since six years ago in 2009.
Auckland region saw a decline in new listings from this time last year, of 9.2%.
The national average in the overall inventory of listings fell slightly to 23 weeks in March — the long-term national average is 36 weeks of available listings. Many regions are experiencing low inventory levels.
Auckland’s new average selling price reached a new high of $766,912 — a 0.3% increase from the previous record of $764,424 reached last month. The Central Otago/Lakes new average is hot on the heels of Auckland, though, at $731,640 — up a staggering 18%! The average asking price of homes for sale in New Zealand in March reached a new high of $514,712.
The latest monthly property and further data can be viewed at realestate.co.nz