Listings pick up
Realestate.co.nz reported a lift in new listings last month, helping inventory levels to recover to a level not seen since April.
Tuesday, February 4th 2014, 12:00AM
by The Landlord
It followed December’s seven-year low of just 8010 new properties on the site.
Thirteen of the 19 regions reported a year-on-year increase in listings.
There were 9267 new listings in January – up 4.7% from January 2013, and up 15.7% from December 2013.
January’s new listings were the highest for any January month since 2010.
The Coromandel region reported the most significant increase in listings of all the 13 regions reporting higher listings, up 39.8% compared to last year.
Average asking prices for properties are up across the country, with record asking prices recorded in Canterbury and Otago, at $449,149 and $304,720 respectively. The national asking price grew again in January, to $476,797, from the fall seen in December, nearing the national record asking prices from October 2013.
Auckland and Wellington reported increases in average asking price compared to the end of 2013.
Auckland’s asking price is now sitting just below the record set in October last year, up 1 per cent compared to December, to $663,372. Wellington’s asking price rose 4.2 per cent to $463,912.
Eleven regions witnessed asking price falls. Most significant falls were recorded in Central Otago/Lakes, falling 9.2% to $619,516 and Wairarapa, falling 7.2% to $265,828.
Inventory has recovered to 26.8 weeks of stock. This level of stock hasn’t been seen in equivalent since April last year.
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