Latest property update - September

Realestate.co.nz data shows the average asking prices in a number of regions have dropped since August, the longer term trend shows strong increases in asking price. Six regions in the country achieved their highest average asking price in September 2015, with a further seven reaching their record in August. The remaining six regions have all recorded their highest ever average asking price in the last six months.

Low inventory (time it takes for a home to sell once listed) is usually associated with a sellers’ market and higher asking prices.

There are now fewer residential properties listed for sale nationwide than at any time since 2006.