Asking prices bust through the $500,000 barrier
The average asking price of a property for sale in New Zealand broke through the $500,000 barrier for the first time in
November, as the Trade Me Property Price Index rose 2.3 per cent.
The Property Price Index measures trends in asking prices for residential property listings added to Trade Me Property
by real estate agents and private sellers over the previous three months. It provides buyers, sellers and realtors with
insights into ‘for sale’ price trends by property type and property size.
Head of Trade Me Property Nigel Jeffries said the new record high in asking price signalled ongoing confidence in the
property market from sellers. “The November data echoes the lift we saw in October, meaning sellers have continued to
raise their price expectations to land at a new high water mark of $509,750. There has been a resounding resurgence in
the property market after a pretty subdued winter and that all adds up to good news for sellers and a bitter pill for
buyers to swallow.
Full Document at Trade Me Property Price Index