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2016 property market “The Year of Unpredictability”

Posted on: October 1st, 2016 | Filed in NZ Property Report, Uncategorized

Spring property market is not blooming

Download the full report here.

The traditional lift in housing market activity during September failed to eventuate, highlighting the unpredictable nature of the property market in 2016, says spokesperson Vanessa Taylor.

Real-time market statistics from show new property listings across the country down by 12.2 per cent on the same time the previous year, and the total housing stock down 23 per cent.

“Typically we can see trends around what happens during the different phases of a year, such as a slow-down in the winter months and a resurgence in spring, but 2016 is The Year of Unpredictability,” says Vanessa.

“Traditional seasonal behaviour is diminishing as sellers appear to be more focused on selling at a premium particularly in markets like Auckland, while buyers are considering all their options and properties are now taking a longer time to turn over.”

New Listings September 2016

Main centres tell it all

New asking price high for Auckland but fewer listings and longer to sell

Auckland was the only region in the whole of the country where total housing stock levels increased (by 4 per cent).  However new property listings in September were 17.8 per cent lower than the same month in 2015.

While Auckland asking prices hit another all-time high at $933,435 (a 2.8 per cent increase on the previous month), properties are spending longer on the market.

“With fewer new listings coming onto the market, it appears that sellers are looking to command higher prices,” says Vanessa.

“On the other hand, if there were no new listings coming onto the Auckland market, all existing properties would now take 12 weeks to sell, which indicates a slow-down in activity,” she says.

By comparison, in the same period last year (September 2015), if there were no new listings coming onto the Auckland market, all existing properties in Auckland would have taken 9.6 weeks to sell.

Vanessa says it could be that the buyer sentiment has shifted from a “must buy now mentality at all cost” to a more considered view of options, particularly with prices continuing to rise and a limited choice of properties for sale.

Asking Prices September 2016

Significant fall in new housing stock in Waikato, asking prices up

Waikato’s total housing stock level plunged 31.9 per cent compared to the same month last year which is a massive drop compared with neighbouring Auckland which was the only region where total housing stock levels rose.

“Aucklanders have been active in the Waikato region for quite some time and have perhaps absorbed the first round of property offered by Waikato sellers who capitalised on the demand.”

New property listings coming onto the market in September in the Waikato fell by 20.1 per cent compared to the same time last year and asking prices lifted by 3.0 per cent on the previous month, which is slightly higher than Auckland.

If no new listings came onto the market, all existing properties would be sold in 10 weeks in the Waikato region.

Wellington new listings fall, following a strong August

It’s a similar picture in the Wellington region where new property listings fell 8.1 per cent in September compared to the same time last year.

“However Wellington is an example of the unpredictable nature of the industry at this time, given that in August 2016 new listings increased by 36.8 per cent compared to August 2015,” says Vanessa Taylor.

Total housing stock in September 2016 was 37.7 per cent lower than the same month the previous year. Property asking prices in Wellington rose 1.4 per cent compared with the prior month.

Property asking prices and new listings fall in Canterbury and Otago

While asking prices in the North Island main centres continued to rise, in Canterbury and Otago they fell by 2.5 per cent and 1.7 per cent respectively compared to the prior month.

New listings were also down compared with the previous year, with Canterbury falling by 4.7 per cent and Otago by 12.6 per cent compared to September 2015.

Inventory Map September 2016


About is dedicated to property and is the of cial website of the New Zealand real estate industry. As a property listing site, the information it draws on for its property report is in real time. has the country’s most comprehensive selection of real estate listings online. The site presents more than 97 per cent of all residential, commercial and rural properties currently marketed by real estate professionals. Focussed exclusively on people in need of property, offers superior functionality, including accurate search, school zone data and a mobile app.

Glossary of terms provides valuable property market data not available from other sources.

  • Average asking price gives an indication of current market sentiment. Statistically, asking prices tend to correlate closely with the sales prices recorded in future months when those properties are sold. As it looks at different data, average asking prices may differ from recorded sales data released at the same time.
  • Inventory is a measure of how long it would take, theoretically, to sell the current stock at current average rates of sale if no new properties were to be listed for sale. It provides a measure of the rate of turnover in the market.
  • New listings are a record of all the new listings on for the relevant calendar month. As we re ect 97 per cent of all properties listed through registered estate agents in New Zealand, this gives a representative view of the market.
  • Seasonal adjustment is a method we use to better represent the core underlying trend of the property market in New Zealand. This is done using methodology from the New Zealand Institute of Economic Research.
  • Truncated mean is the method we use to provide statistically relevant asking prices. The top and bottom 10 per cent of listings in each area are removed before the average is calculated, to prevent exceptional listings from providing false impressions.

Top 10 Lifestyle Properties – October 2015

Posted on: October 9th, 2015 | Filed in Featured, Uncategorized


Lifestyle a plenty

Where better to enjoy lifestyle living than the stunning Bay of Plenty. Enjoy some of the country’s best beaches for swimming, surfing, fishing and diving, then retreat to your contemporary elevated hill-top home.

Quality workmanship and materials make this property a stand-out. It blends beautifully with its environment and is full of special design features like the entertainer’s kitchen and wine cellar.

No expense has been spared in the design, construction and styling of this stunning rural residence.

Overlooking a home orchard that contains almost every variety of fruit imaginable it’s an absolute peach.



Luxury country estate

Settle in on the northern slopes of Clevedon and lap up panoramic rural views to Auckland City and Waiheke Island.

Surrounded by regional parks, the estate houses a luxurious 709m2 European villa style home. Exposed timber, marble and stone handcrafted by a Swiss cabinet maker, make this a truly unique lifestyle opportunity.

Originally a winery, facilities including full commercial kitchen, warehousing, offices, staff room, conference facilities and guest accommodation making the property ideal for weddings and functions.

Neighbouring grazing land, pine and exotic forest, here you can escape life in absolute style.



A gem on the sparkling Kaipara

Relax in this superb Manor house on 4.29ha amongst subtropical gardens and water features.

You ‘ll be greeted by high ceilings and half panelled Kauri walls, exuding old world charm, then make your way to the deck or courtyard for sweeping views of the picturesque rugged Kaipara countryside and magical sunsets.

This exceptional lifestyle property has 5-8 bedrooms, 2 dams, 11 paddocks, a large American barn.

Live in and enjoy or ponder the income potential. Currently run as a coastal retreat B&B with a spa, sauna and beauty salon.



A monastic retreat

Relax and find peace at ‘The Monastry’, a breath-taking, 107 year old relocated Villa perched elegantly on the banks of the Waikato River.

Extensive gardens and sweeping views immediately create a welcoming ambience.

You will love the traditional kitchen with timber joinery and freestanding fireplace and take great pleasure entertaining and relaxing in two gracious formal living rooms and formal dining spaces.

On 4.5527ha (11.25 acres) zoned in the Tamahere country living zone, investigate the potential that this property offers.

A tranquil and private sanctuary from the hectic world, yet close to Hamilton.




Exotic lifetsyle living

Take a fulltime holiday. Move in to this marvelous 525 sq metre masonry home influenced by the island of Bali.

Relax amongst absolutely stunning landscaping with a distinctive, exotic theme. Smartly positioned with a northerly aspect makes for perfect sunny country living.

The house appears as a series of linked pavilions, distinctly reminiscent of Balinese architecture. Inside, dark timber details and hand-plastered walls continue the theme; just an hour north of Auckand.

Sun yourself on the expansive outdoor terrace before cooling off in the 12 metre pool.  A double sided log fireplace opens both into the living area and to the outdoor entertaining area allowing for indoor or outdoor entertaining regardless of the season.

On five acres of contoured pasture with two pretty ponds and wide rural views, the property offers you both the privacy and the proximity to the city that Coatesville is renowned for.



Picture yourself here

 Look north to Mount Manganui and the ocean from this perfect lifestyle pad.

Enjoy expansive luxury living in a top location with interior design, chattels and manicured grounds that suitably match the superb quality of this home.

Not only does this property look the part, with many added extras, it’s also been thoughtfully considered to be practical and functional. So you can seriously relax.




Next level lifestyle

Take an executive position in this 330sqm 4 bedroom home. Meet by the pool, enjoy long lunches in the open plan living zones and park your fleet in the internal garaging for three vehicles.

Built in 2010 this well designed home with West Coast Schist features is set on 6.182 Ha. All the mod-cons you’d expect like double glazing and undrfloor heating are on the agenda.

This magical property is well fenced and all ready for the horses with stockyards, 20m x 40m Dressage Ring, Hayshed, plus a combined 320sqm workshop/stables and Horse Truck Shed. Tally ho!



Lake Hayes Homestead

Look out to Coronet Peak from the ultimate apres ski venue. Bridesdale Farm Homestead sits on a large block of land of approximately 1,852 sqm, with an established garden.

You’ll love the stacked schist stone walls, hardwood bridge beams and rimu window and door frames throughout. The kitchen and living areas feature southern beach flooring and the outside entertainment area is paved in stunning Glenorchy slate.

A massive main entertaining room will warm you with a large open fire – perfect for entertaining on those cold winter evenings.

For a quality family residence in a majestic part of the country look no further.



Canterbury Oasis

Step up to the superior quality of this 427sqm* architecturally designed residence. Surround yourself with the highest specifications on two levels of luxurious family living.

A large four bay barn (two bays lock-up) is ideal for vehicle storage or workshop for that project you’ve been planning.

With 4 hectares of land currently growing approximately 1400 hazelnut trees (whiteheart and pollinators) there’s great opportunity for a lifestyle business.

Extremely private, secure property located in one of the more sought-after lifestyle locations in Canterbury, you may have just cracked it here.



Live it up at Duxbury Downs

Take in 180 degree views incorporating Banks Peninsula, The Port Hills, Pegasus Bay, the Amberleys and Mt Grey from this sunny eleveated 4.439ha property.

Cruise up past the enclave of native trees to the home which sits in pride of place on top of the rise.

Make the most of the outstanding outdoor living at this property.  Enjoy family gatherings on the sheltered patio by the heated in-ground pool, complete with a delightful pool house.

This is a home with a heart, that could well steal yours.


Fewest homes for sale nationwide for at least eight years

Posted on: October 1st, 2015 | Filed in NZ Property Report, Uncategorized

Market demand continues to push up prices and fuel high turnover


AUCKLAND, 1 October 2015 – There are now fewer residential properties listed for sale nationwide than at any time since 2006, potentially longer, according to new data released by The largest New Zealand website dedicated only to property represents over 97% of all agent supplied property listings in the country – more than any other single resource. The data shows that in September there were only 30,988 properties for sale across New Zealand.

image005“Historically, the number of homes for sale tends to be fairly stable, following gradual, long-term trends,” says Brendon Skipper, CEO of “Given that the number of homes for sale when we started keeping records in January 2007 was nearly 43,000, we can safely assume that this is the fewest homes on the market in New Zealand for a much longer time, possibly a decade.”

Over the last eight years, the number of the homes for sale climbed steadily to a high point of 58,137 in April 2008. It remained consistently near 50,000 for another three years, before starting a slow, steady decline to the present level.

“We use a metric we call inventory, a measure of supply and demand that indicates how long it would take, in theory, for all the current properties on the market to be sold at the average rate of sales. In September, inventory nationally dropped to its lowest level since we’ve started keeping records,” says Skipper.

“We have only 16.3 weeks of inventory compared to the long-term average of 35 weeks. In our main centres, the situation is even more extreme. In Auckland, the inventory is only 9.6 weeks and in Wellington 11.1 weeks.”

The current inventory levels across all 19 regions of New Zealand are now below their respective long-term regional averages.

More new listings, but properties do not stay on market for long

“The fact that inventory is so low may seem surprising, given that we have seen an increase in listings in most regions compared to September last year, especially in Auckland, Waikato and Bay of Plenty. Significantly, these are the three regions with the lowest level of inventory in the country, along with Wellington. The simple truth is that these properties are now spending less time in the market, suggesting that market pressures will remain high while the current rate of turnover continues,” says Skipper. image007

“Low inventory such as this is usually associated with a sellers’ market and higher asking prices, as we have seen in recent months.”

While data for September reveals that the average asking prices in many 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.


About offers buyers the shortest path to the perfect property. As the official website of the New Zealand real estate industry, is dedicated to property and has the country’s most comprehensive selection of real estate listings online. The site presents more than 97% of all residential, commercial and farm properties currently marketed by real estate professionals. Being focussed exclusively on people in need of property, offers superior functionality, including accurate search, school zone data and a mobile app.


For media enquiries, please contact:

Rob Fitzgerald, Camino public relations                        Vanessa Taylor,

T: +64 27 501 7800                                                       T: +64 275 760 260

E:                                                   E:


2 ½ years of NZ houses

Posted on: September 13th, 2015 | Filed in Buying / Selling a home, Featured, Uncategorized

We wanted to see “What does a house look like?”, so looked at all the new listings across New Zealand between 1 Jan 2013 to 30 June 2015 and separated listings for house and town houses. 

We found some surprising changes and put them in the infographic below. Pretty interesting, eh?












Top 10 Do-Ups

Posted on: September 10th, 2015 | Filed in Uncategorized

(1)Take some cues from the current owners of this 6 bedroom home and add your own flair to this 911m2 site. Renovate this villa and enjoy one of the largest sites in Ponsonby.

Boasting detailing from a bygone era this home is simply screaming out for a much needed make over. Redefine indoor-outdoor flow the way you like, you have an opportunity to rewrite the rules for your own dream home. A huge oversized stud and magnificently wide hallway give a real sense of space as soon as you enter this colossal villa. The possibilities are endless.


(2)An incredibly rare opportunity to indulge your flair and create the home of your dreams in one of Epsom’s favourite Grammar Zone avenues. Original features like leadlight windows and handsome beamed ceilings in the lounge make for a character treat. From the broad entry porch to the welcoming entry hall, all the spaces feel enormous. Off the dining area, an enormous kitchen overlooks a sundrenched swimming pool. Fruit trees are overflowing all over the lawns. There’s a double garage and spacious utility room plus masses of parking. Ready and waiting, just add your vision.



Enjoy an easy stroll to Ponsonby from this big flat 455m2 property, elevated on the sunny side of the street. The existing four bedroom cottage has a large kitchen, one bathroom plus a little garden shed to the rear. It needs attention, but there are options for someone with vision. Potential to live in and do up. Potential to develop and gain from the appeal of the large flat section in a magnificent location. Potential to land bank and rent out. Utilise your creative flair here and you will be rewarded with amazing sunsets and a relaxed city lifestyle.



This unique property is finally up for sale! Opened in 1926 as the local Plunket and Ladies Rest Rooms its original art deco features will appeal to many. Situated on the Main Street of Pahiatua, it’s just a short walk to the shops. Commercially zoned (with required upgrades) this building could be set up as a retail business. Transform it into an incredible modern townhouse, a weekend retreat, or even an art gallery; let your imagination run wild. Don’t miss the opportunity to view the iconic Plunket Rooms.



This project is not for the fainthearted! 380m2 spread over 3 levels, this 1920s home is massive. The potential is fantastic, with many of the original features of the home intact; however the real prize is the view, expansive from the Harbour Bridge across to Rangitoto. Renovate the current house back to its former glory and you will end up with an amazing family home or perhaps even talk to the council about other redevelopment options and reap a reward for your hard work.




If you are innovative and have an inclination for an incline, 30 West End Rd presents a cool architectural challenge with a twist and ‘acres’ of upside. Work from home with the best studio potential in town while you plan your next step or simply buy and hold – 1853m2 of rare Herne Bay land could be worth it. Who knows what you could do with a kitchen like this – from retro chic to a total do-over. For that bold creative mind, an opportunity like this will have you artfully whipping up concept after concept.



Right in the heart of Beach Haven is a prime site stretched over 1000m2 which represents a golden opportunity for redevlopment, for investors and owner occupiers alike. Zoned for Mixed Housing Suburban under the new Unitary Plan, the property is ideally suited to subdivision into two generous sized land parcels both now and in the future. The 1960’s 3 bedroom weatherboard and clay tiled roof home currently on the site is prime for immediate renovation. With some cosmetic redecoration and a touch of inspiration this would make an excellent investment while future plans are considered.



Wonderful character features abound, this traditional family bungalow with bay lead light windows & character ceilings is completely original and ripe for renovation. Currently tenanted, this property is in the heart of a fantastic Grammar Zone location. Sitting on over 800 m2, it’s ripe and ready for someone to walk on in and restore it to its former character chic, or use the opportunity to start something completely new.



Devonport’s golden triangle has given up one of its treasures. Just when you thought you had seen the last of the good buys, say hello to a brand new beginning. Nestled away in a beautiful, quiet and leafy location, this perfectly formed 2 bedroom brick and tile home is in need of TLC. The location doesn’t get much better than this, an easy stroll to the waterfront cafes and the golden sands of Cheltenham Beach. Lived in and very well loved, time has taken its toll and cosmetic refurbishment is required to make the most of this stunning location. Don’t let this one go without a fight, it’s worth it.



All this needs is an enthusiastic owner with some renovation flair. I am what you see – 2 double bedrooms, small office, and a large front lounge plus large dining room off the kitchen. It’s your choice how you use all the space. The section will be easy to maintain, just 400 m2 with parking at the front and an old garage-workshop out in the sunny backyard. This is an estate sale so it must be sold – don’t delay – bring your rose tinted glasses and view today.




My Property

Posted on: September 2nd, 2015 | Filed in Uncategorized

My Property allows you to save searches and receive email alerts for new properties which match your criteria. You can easily keep track of individual properties and open homes you are interested in too. Login or signup to My Property from the links in the property finder bar or the top right corner of the site.

Saved Searches & Email Alerts

  1. Login to My Property and enter your search Criteria into the property finder as shown below.
  2. Select ‘Advanced Search’ to search multiple suburbs
  3. Click on find properties to display all the results that match your criteria
  4. Once the results have appeared, click on the option to ‘save this search and get updates’ as highlighted below.
  5. After clicking the link this will allow you to edit and name your saved searches. Email alerts for your search will be sent daily, but you can change that to weekly, fortnightly or even monthly. You can also disable the email alerts if you wish.

Saved Homes & Open Home Planner

  1. You can save individual listings to My Property by clicking on the star-shaped icon in the search results or on the ‘Save’ button on the individual listing page.myproperty_3
  2. If there are any open homes associated with the property you will find them in the individual listing page and you can save them to your open home time planner.myproperty_4




View your saved searches, saved homes and open homes at any time from the My Property tab



The Property Line, Issue 1. August 2015

Posted on: August 24th, 2015 | Filed in Uncategorized

Welcome to the first edition of The Property Line Quarterly Report, which looks at some of the major forces driving this country’s property market.

A key theme of this report is the balance between supply and demand.

It looks at how migration has pushed demand for housing in Auckland well above the supply that’s coming on stream, and how the gap between the two is getting bigger by the day.

It also looks at what’s happening with residential investment yields and suggests capital gain is the only game in town for Auckland investors.

We concentrate on the supply side of the equation for commercial property with a look at how much office, retail and industrial property in the three main centres was listed for sale on last month, and summarise the building consent trends in the same categories.

As its name suggests the The Property Line Quarterly Report will be published every three months and will be sent out free to subscribers of’s Property Newsletter, which is also free.

The Property Newsletter is emailed to subscribers 3-5 times a week and brings all of the latest commercial and residential property stories published on directly to your inbox.

Both the Quarterly Reports and regular newsletters are free, we do not pass on your details to third parties and you can unsubscribe at any time.

To subscribe to the Property Newsletters and receive the Quarterly Reports go to: http://

Greg Ninness

Property Editor


Download your copy here: Property Line August 2015


Our Top 10 Most Interesting Homes for August 2015

Posted on: August 21st, 2015 | Filed in Uncategorized

# 1

620ff38badf3006c57c0a5d9a0e264ea.scale.1024x682This gothic-inspired home has its very own 15 metre turret with stunning panoramic views of Auckland. Aesthetically bold and described by some as a magical place to live, this 1860’s Epsom mansion is any historians dream home.

# 2

efb2f4a6fc0c41ba28993a2c6c3c22a3.scale.1024x682Here is a truly iconic slice of original Wellington – the Logan House at Windy Point. Each room owns a different view of the harbour, and many of the early Athfield hallmarks are evident: rounded walls, slit windows, tile flooring, floor to ceiling glass. Spread over 7 levels and built with 16,000 reclaimed bricks in the 1970s, it’s an undeniable masterpiece.

# 3

fd07aa1225b0804d533fe8cda60eeffb.scale.1024x682‘The Fin’, Waiheke Island’s ultimate weekend getaway, is now on the market. Its cool white modern interior and open plan aesthetic offer the perfect contrast to the cathedral-like glass front entrance. When you find the spa pool set amongst bush you’ll realise this is the ultimate way to relax with one of the lovely local wines at the end of the day.

# 4

0a52ad377882cd380e14c7ea61d05dcd.scale.1024x682Situated on the top floor of Landmark House in the heart of Auckland CBD, this top floor lease offers 4 offices with a large reception and toilet area. The corner turret was originally built in 1930, a unique feature which adds a rustic feel and style to the whole office which a dentist currently operates out of. He sure could distract his clients with the view.

# 5

5c1dac36065552dcab7bd4a557b04b90.scale.1024x682Welcome to New Zealand’s largest natural log home. Constructed in 2009 with 4 large bedrooms, 3 bathrooms including spa, at the heart of it all is the magnificent 6.8m high Great Room – an exquisite showpiece. Unmatched in grandeur, warmth and beauty, this 634mÇ masterpiece is a little slice of Aspen right here in Central Otago.

# 6

6d77fb2fe2a47458c877587a9457bfd1.scale.1024x682This near new beach house with legal beach access, allows for both formal and casual living. The home’s clean lines are crisp and organic – its cladding merging seamlessly into the established beach setting. Punctuating the living area is a staircase which will take you up to the exclusive mezzanine reading room, where the expansive views through the Totara louvres, which can be manoeuvred to suit the elements, offer a stunning outlook towards the ocean and Kapiti Island.

# 74c58324c3c83b166d9cc6e194102f03f.scale.1024x682This home just “works”, offering 3 bedrooms, character, history, pond, and ample land for pets and sheep. Set on 1.12 hectares, it’s just 8 minutes drive to village of Lawrence.

# 8577ef6f3b553e13d6de04150b92b83fd.scale.1024x682This well-maintained property in Picton offers an amazing covered outdoor living area, and all principal rooms offer wonderful views over Waikawa Bay to the mountains. Included is a registered boat mooring, and use of a very versatile floating boat jetty. It’s a completely unique opportunity to enjoy literal waterside living.

# 910a30ade947c6e1338b33b80d4a6cde9.scale.1024x682
This timeless home of sumptuous simplicity takes maximum advantage of its breathtaking position, with a concealed lift which provides access from the lower ground floor level to the main living level. The living area opens onto a magnificent covered verandah that incorporates a stone fireplace and an adjustable roof. An incomparable setting, inspirational architecture – this Maori Hill home offers a lifestyle beyond compare.

# 107d2bb428e85b0ed59d710c4c3da57fa6.scale.1024x682Those with an appreciation for design elements will love the interior of this chic home which includes imported light fittings, 19th century Egyptian entrance doors, jurassic stone hearth, imported linen curtains and honed concrete, to name just a few. The seamless indoor/outdoor flow to the invitingly landscaped garden includes an outdoor gas fire and cedar spa pool. It delivers undeniable quality, exceptional style and unrelenting attention to detail.


Average national asking price in April climbs to new national record of $521,729, while new listings and total inventory plummet

Posted on: May 1st, 2015 | Filed in Featured, NZ Property Report, Uncategorized

Auckland average asking price inches up to new high of $789,581

AUCKLAND, 1 May 2015 – The New Zealand property market in April continued the trend of the last four consecutive months with yet another increase in average asking price, creating a new record of $521,729, an increase of 1.4% on the previous month. Property_asking_price_map_april_2015


The latest monthly property data from showed that Auckland, where the average asking price rose by 3% to a new high of $789,581, continued to be the main driver in the overall national increase – no other region experienced a new record in average asking price in April.


In fact, most parts of New Zealand experienced either little change or decreases in average asking price during the month. In Wellington the average asking price dropped slightly by 1.4% to $455,611, while Canterbury also experienced a small decrease of 0.8% to $463,175. The biggest drops occurred in Central Otago where the average asking price in April fell by 17.3% to $604,729, while the average in Southland fell by 11% to $232,549.


Significantly, the number of new listings was the lowest recorded for April by, with only 9,673 coming on to the market, a fall of 5.6% on the same time last year, and a decrease of 18% from March. In addition, the national average in overall inventory* of available housing stock for sale fell to an all time low of only 21.3 weeks in April. The previous record low of 21.4 weeks was set in January, while the long-term national average is 36 weeks.


CEO of, Brendon Skipper says, “The drop in listings coupled with the record low total inventory shows that sellers in many parts of New Zealand are experiencing very favourable conditions. As a result, robust average asking prices continue to be maintained at record levels, and the market appears to be meeting them.”


A full copy of this release is available here.



Truncated mean The monthly asking price for new listings presented in this report utilises the measure of ‘truncated mean’. This measure is judged to be a more accurate measure of the market price than average price as it statistically removes the extremes that exist within any property market that can so easily introduce a skew to traditional average price figures. The truncated mean used in this report removes the upper 10% and the lower 10% of listings in each data set. An average or mean of the balance of listings is then calculated.

Methodology With the largest database of properties for sale in NZ from licensed real estate agents, is uniquely placed to immediately identify any changes in the marketplace. The NZ Property Report is compiled from new listings coming onto the market from the more than 1,000 licensed real estate offices across NZ, representing more than 97% of all offices. With an average monthly level of over 10,000 new listings, the NZ Property Report provides the largest monthly sample report on the residential property market, as well as a more timely view of the property market than any other property report. The data is collated and analysed at the close of each month, and the Report is compiled for the 1st day of the following month. This provides a feedback mechanism as to the immediate state of the market, well in advance of sales statistics, which by the very nature of the selling process can reflect activity with a lag of between 2 and 4 months.

Seasonally adjustment The core data for the NZ Property Report is seasonally adjusted to better represent the core underlying trend of the property market in NZ. In preparing this seasonally adjusted data is grateful for the assistance of the New Zealand Institute of Economic Research (NZIER) who use an X12 ARIMA methodology to calculate seasonally adjusted data.

About is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings. lists more than 120,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.


* Inventory is expressed as a theoretical measure of the number of weeks it would take to sell all unsold housing stock on the market at a given point in time, which includes all active listings of homes for sale no matter when they were first listed.


For media enquiries, please contact:


Brendon Skipper, CEO

T: +64 21 542 607



Surging asking prices in March break new national record for third consecutive month, while new listings fall

Posted on: April 1st, 2015 | Filed in Featured, NZ Property Report, Uncategorized

Canterbury and Auckland lead regions in record asking price

AUCKLAND, 1 April 2015 – The average asking price of homes for sale in New Zealand in March reached a new high of $514,712, the third consecutive month of record asking prices. The latest monthly property data from also showed that the number of new listings in March was 11,870, a decline of 4.9% from the same time last year, and the lowest for March since 2009.

•	Property Asking Price  - March 2015

The new national high in average asking price of $514,712 was a small increase of 0.6% on the previous record of $511,412 set last month. The growth in asking prices in March was also reflected in different parts of the country with three regions experiencing new records, including Canterbury and Auckland.


The new high of $467,126 in Canterbury was a 1.3% increase from the previous record of $461,032 set in July last year, while Auckland’s new high of $766,912 was a 0.3% increase from the previous record of $764,424 reached last month. In addition, the Wairarapa also experienced a new high in average asking price of $357,949. The average asking price in Wellington during March 2015 was $461,905, which is 1.6% below the all time high of $469,487 set a year ago in March 2014.


CEO of, Brendon Skipper says, “there is no let up in the increase in asking price, especially with regions such as Canterbury and Auckland experiencing new highs. With the slight fall in the number of new listings in March, sellers are in a good position to maximise the value of their homes.”

•	New Property Listings – March 2015The number of new listings of homes for sale across New Zealand in March was 11,870, a decrease of 4.9% from the same month last year, and a fall of 1.1% on the 12,008 new listings in February. This is the lowest number of new listings for the month of March since the 11,456 recorded six years ago in March 2009. While Canterbury saw an increase of 3.8% on the number of new listings from March last year, both Auckland and Wellington experienced falls of 5.2% and 9.2% respectively.


The national average in overall inventory* of available housing stock for sale fell slightly to 23 weeks in March, close to the record low level set in January of 21.4 weeks. “The long-term national average is 36 weeks of stock. Many regions are experiencing low inventory levels, including the three major cities,” says Brendon Skipper.

•	NZ Inventory – March 2015








About is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings. lists more than 120,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.


* Inventory is expressed as a theoretical measure of the number of weeks it would take to sell all unsold housing stock on the market at a given point in time, which includes all active listings of homes for sale no matter when they were first listed.


For media enquiries, please contact:

Brendon Skipper, CEO
T: +64 21 542 607

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