Super City listings decline
Tuesday 1 May 2018
Auckland’s market continues to run cold with the latest Realestate.co.nz data showing that new listings in the region have fallen again.
By The Landlord
The Super City saw a 4.6% year-on-year fall in new listings to leave them at 3,380 in April 2018, as compared to 3,554 in April 2017.
New listings in the region were also down from March when 4,171 new listings came onto the market.
Further, the Realestate.co.nz data has Auckland’s asking prices remaining static, with a 0.6% increase to $955,577, as compared to March 2018.
Despite Auckland’s slower metrics, nationally there was a year-on-year rise in new property listings for the first time in six months.
In April, there were 9,899 new listings on the market which was a 1.9% increase on the same period last year.
Realestate.co.nz spokesperson Vanessa Taylor says that usually when the Auckland market gets cold the rest of the country also suffers.
“But this time when it came to new property listings the rest of the country made up the numbers, led by Canterbury and Wellington.”
The biggest increase in new listings came from the Canterbury region with 1,654 properties placed on the market in April.
This represented a 30.4% year-on-year increase on April 2017.
The Wellington region also saw a strong year-on-year lift in new listings, with a 13.6% increase to 754 new listings, as compared to April 2017.
Taylor says this is good news for the region which is tightly held and has been relatively starved of new listings.
“With an increase in new listings and fine tuning in asking prices (a 1.4% fall to $603,949), Wellington is looking healthy right now.”
Another region to see a significant lift in new listings in April was the Hawke’s Bay, which recorded a 34% increase on April 2017 to come in at 313.
In contrast, new listings were down in Otago and the Waikato while new listings were static in the Bay of Plenty.
Meanwhile, the Realestate.co.nz data revealed a mixed bag of asking price information.
Canterbury, Central Otago/Lakes and Manawatu/Wanganui all saw asking prices rise while they were static in the Hawke’s Bay and the Bay of Plenty and down in Otago.
Comments from our readers
No comments yet
Sign In / Register to add your comment
House Prices
NZ market out of step with Australia’s slump
New Zealand’s housing market might be cooling but it’s in sync with global trends – unlike the Australian market’s dramatic decline, according to a major bank.
Commercial
Growth in NZ demand for co-working space
Developing co-working and flexible spaces in commercial properties offers big opportunities for landlords, the results of a major new survey suggest.
Mortgages
Decline in new investor mortgages
New mortgage registrations for investors have continued to slide over the past year, according to the latest Property Institute/Valocity Regional Insights Report.
