Auckland listings plummet

The real estate website’s latest data shows there was 2,936 new property listings in the Auckland region in June.

That’s a drop of 14.8% as compared to June 2017.

Realestate.co.nz spokesperson Vanessa Taylor says they haven’t seen new listings in the region come in under 3,000 for the month of June since 2014.

At the same time, asking prices in the Auckland region fell by 2.4% to $931,339 as compared to the prior month.

“The last time that asking prices were at this level (around the $930,000 mark) was in the spring of 2017 (August, September, October 2017),” she says.

Auckland was not the only region to see new listings slump in June.

Nationally, there were a total of 8,136 new property listings, which was a 9.9% drop on June 2017, and 15 of the 19 regions saw a year-on-year fall in listings.

Taylor says that three regions recorded all-time new listing lows in June as compared to the previous year.

They were Gisborne (down 41.4%), the West Coast (down 25.8%) and the Wairarapa region (down 27%).

New listings fell in every region in the North Island apart from Wellington - which saw 574 listings equating to a 5.5% year-on-year increase.

But South Island regions fared slightly better with three of the seven recording an increase in new listings compared to June 2017.

Nelson & Bays was up 16.1%, Marlborough up 10.6% and Canterbury up 3.2%.

Meanwhile, the national asking price was stable in June, with an average asking price of $646,231 which was a 0.3% decrease on May 2018.

Taylor says that typically in winter people hibernate and this June was no exception with cold weather felt across the country.

“The reality is that people want to sell their property when they feel that it’s looking its best and potential buyers are more likely to go out to open homes.”