The property market levelling off in flight mode
Please find attached the latest Trade Me Property Rental Index for September.
What we’re seeing
- The New Zealand property market is levelling off after some incredible growth. Average asking prices were up
just 0.6 per cent on August.
- Looking across the last year the overall asking prices are up 6 per cent, while that’s impressive it’s pretty
calm compared to the 10 and 16 per cent annual increases in previous years
- Auckland has seen a big slowdown too – average asking prices are up 12 per cent which is pretty low compared
to the 20+ per cent jumps seen recently
- BOP and Waikato have been surging with both regions hitting records
- Urban properties have slowed right down too with Auckland apartments showing just 2.8 per cent growth after
40 per cent increases in the last year.