Asking price of homes at record levels during May

Asking price of homes at record levels during May

AUCKLAND, 13 June 2014 – The average asking price of homes remains at record levels, not only in Auckland but across the country, according to Realestate.co.nz, the website with New Zealand’s largest number of homes for sale.

The national average asking price of house sellers in May was $483,524, only marginally below the all time record set in March of $484,263. In Auckland, the average asking price was $685,246, practically the same as the new record set in April of $685,426. In Wellington the average asking price in May was $453,850, while Canterbury came to $442,784.

Despite the strong prices sought by sellers, there are still plenty of Kiwis looking for homes to buy throughout the country, according to Paul McKenzie, Marketing Manager at Realestate.co.nz. “Buyer interest hasn’t dissipated, in fact traffic to Realestate.co.nz has risen 50% over the last 12 months[1]. And traffic from mobile devices specifically, including smartphones and tablets, has grown by 90% in the last year[2].”

Today, more than 40% of visitor traffic to Realestate.co.nz comes from a mobile device. On weekends, the mobile traffic component is even higher as savvy buyers stay informed by connecting to the property portal while out house hunting, at open homes and at auctions.

“The good news for buyers is that the available stock of houses for sale is steadily recovering from the historic low levels of August last year. There are currently more than 40,000 homes for sale across the country as at 31 May,” says Paul McKenzie.

There were 10,745 new listings of houses for sale in May, which was a five per cent increase from April. While new property listings remain at similar levels to May last year, some regions experienced a drop year on year, such as the Waikato, which was down 19% on the same month in 2013.

About Realestate.co.nz

Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings across all categories of real estate. Realestate.co.nz lists more than 130,000 properties each year, representing more than 96 per cent of all listings currently marketed by real estate professionals.

ENDS

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