Spring magic makes for price rises
Not only was the national average asking price was up by 6.6% on last year to hit a new high of $664,950 in October, but all 15 regions saw year-on-year price increases.
Further, nine out of 15 regions reached new record asking prices - including Auckland ($946,400), Canterbury ($481,050), Otago ($567,950), Waikato ($570,900) and Wellington ($602,950).
Head of Trade Me Property Nigel Jeffries says prices rise when demand outstrips supply which is what they’re seeing across the country.
“This is despite far more houses coming onto the market than last year. In October there was a 14% boost in the number of properties for sale compared with 2017.”
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