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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 Realestate.co.nz 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 Realestate.co.nz, 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 Realestate.co.nz, 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.

 

Notes:

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, realestate.co.nz is uniquely placed to immediately identify any changes in the marketplace. The realestate.co.nz 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 realestate.co.nz 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 Realestate.co.nz 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 Realestate.co.nz

Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings. Realestate.co.nz 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.

 NZ_inventory_of_listings_chart_April_2015

For media enquiries, please contact:

 

Brendon Skipper, CEO

Realestate.co.nz

T: +64 21 542 607

E: brendon@realestate.co.nz

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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 Realestate.co.nz 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 Realestate.co.nz, 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 Realestate.co.nz

Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings. Realestate.co.nz 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
Realestate.co.nz
T: +64 21 542 607
E: brendon@realestate.co.nz

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12 Properties for Christmas – Day 12

Posted on: December 25th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

When I think back over the places that have helped shape Christmas and summer holidays for me, I always come back to Kuaotunu in the Coromandel.  The fun we had in and around here is the stuff of dreams, the dreams I have for my kids.  Take your pick; north facing, sun, sand, surf, diving, fishing, exploring, great mountains, forests, caves, New Chums, bonfires, beach cricket. The list of summer fun options goes on and on.

On Christmas my true beloved gave to me … a family home where memories are so strong.  This is a place that brings family closer, and will draw friends from afar.  Merry Christmas everyone.

Brought to you by Mark Hall of Matarangi Beach Realty

 

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Day 9:  Taupo Bay Waterfront Bach (Northland)

Day 10:  Stewart Island beach front

Day 11:  Views to die for (Muriwai)

Day 12:  Beach Front Kuaotunu (Coromandel)

Merry Christmas and Happy New Year from the team at Realestate.co.nz.

Phil

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 10

Posted on: December 24th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

Christmas time for some is a time to get away and escape hustle and bustle of busy lives.  There is a need to get away from it all, and if that’s the case then why not look south, all the way south.  A couple of days before Christmas my true love gave to me … a cosy home in Horseshoe Bay on Stewart Island.

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Day 9:  Taupo Bay Waterfront Bach (Northland)

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 9

Posted on: December 23rd, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

Who out there has been to Taupo Bay in the Northland?  Our family stopped here one summer many moon ago en route to Cape Reinga, returned to camp and play the next year.  Took my wife here after we returned from the UK.  3 days out from Christmas will my wife now gift this true Waterfront Kiwi bach to our family!

This is as traditional as you get, check out the formica bench-top.  800 square metres of absolute beach front.  You are half an hour by car to Whangaroa Harbour and Kaeo and 15 minutes by boat to the harbour-side hideaway that is Kingfisher Lodge.  If beaches and the ocean are your playground you’ll love Taupo Bay.  The fishing is amazing the people warm and welcoming.

 

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 8

Posted on: December 20th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

Rotorua may be famous as a geothermal wonderland, and for its forests and bike tracks, the luge and trout farms.  But just outside Rotorua are a collection of 18 sparkling lakes that serve everyone from the fast paced water sports enthusiasts to fisherman and adventurers of every shape and size.  There can be no favourites within the Rotorua lakes, they all have something to capture the imagination and leave a lasting impression.

On the 5th day before Christmas, my true love gifted to me … a beautiful lake-edge home on Rotoiti at Okere Falls.

With the Okere Falls only 400m as the crow flies, your own boat shed on Lake Rotoiti and the, only accessible by boat, Manupiria Hot Springs near by, you’ll find it hard not to think twice about this place.  Check out the video, I could be here in a jiffy.

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 7

Posted on: December 19th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

All this talk of mountains is a fine thing.  When it comes to summer holidays in our family, 9 out 10 times we’ll hit the beach.  Summer memories for me are sun, sand, sailing, a bit of surf, beach cricket and road trips.  One memorable trip took us down through the East Cape and to Wainui Beach in Gisborne.  Wainui is a beauty, a place those from Gisborne are proud to keep as their own.  If you like beaches and especially catching a wave then this is a place for your bucket list.

6 days from Christmas by true love gave to me … a pure beachfront bach on the shores of Wainui Beach.

Brought to you by Bronwyn Kay of Bronwyn Kay Gisborne

Found this place on the beach, a combination of a traditional Kiwi bach and new age quality home.  For me a bach is a place where you can drag sand inside and not be too bothered about it.  This place captures that but from the look of that kitchen there is a lot more to the home.  With 260 square metres of floor space this 4 bedroom home is worthy of checking out if you find yourself in Gisborne over the summer.

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

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12 Properties for Christmas – Day 5

Posted on: December 17th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

At dinner this evening my English father in-law was bemoaning the French, as the English are prone to do. That got me reminiscing of my time in France, one thing lead to another and I found myself on Realestate.co.nz searching for properties in Akaroa.  Now there are more than a couple of great properties on the market in Akaroa, these two leapt out to me; quality properties with stunning views, both beautifully presented with fantastic photography, rich videos and interactive floorplans, all from the professionals at Open2view – now that is how you market property!

So .. 8 days out from Christmas, please my true love, could I have either of these!

PS.  did you spot the elephant?!

Day 1:  Private cliff top paradise

Day 2:  Lakeside Art Nouveau

Day 3:  Unsurpassed Views And Lifestyle

Day 4: Breathtaking inner city penthouse

 

By Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

 

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12 Properties for Christmas – Day 4

Posted on: December 16th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

9 days out from Christmas, a luxury inner city penthouse with harbour views is just for you.  Now an inner city apartment isn’t everyone’s cuppa tea, but this place is seriously special, tell me you aren’t at least a little interested!? 

Live right in the heart of Auckland (consistently voted amongst the top of the world’s most liveable cities), in perhaps one of the city’s most liveable penthouse apartments! 

Brought to you by Michael Boulgaris of Boulgaris Realty

This multipurpose apartment has a variety of residential and organisational options. Option one: reside in the one bedroom luxury suite and use the large apartment as a swish commercial premises. Option two: separate entry to both apartments via the main entry foyer allows for home and income or an upmarket B&B. The views are million dollar and Auckland’s most popular bars and eateries are all on your doorstep – literally!  The sky’s the limit, so get in soon for the ultimate city lifestyle experience.  

Day 1:  Private cliff top paradise

Day 2:  Lakeside Art Nouveau

Day 3:  Unsurpassed Views And Lifestyle

By Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 3

Posted on: December 15th, 2013 | Filed in Other interesting reads:, The lighter side, Uncategorized

On the first day, my true love gave to me a stunning beachfront property with private beach access... then on the second day of Christmas, I was dreaming about this Hamilton art deco beauty.

Check out this special treat… On the third day of Christmas, I’m imaging coming home to this – right in the middle of pinot noir country, Cromwell, Central Otago.

This is a home that oozes extravagance, Italian tiled foyer entrance, quality appliances, powder room, Bose sound system, swimming pool, spa and three car garaging – the list of luxury goes on!

This award winning home is designed by renowned Architect John Blair. Our guests (I imagine!) would be extremely comfortable in the two bedrooms in the guest wing that even have their own kitchenettes.

All four luxury bedrooms even have their own ensuites. This 1.38ha lifestyle property offers breathtaking rural and water views all round and is just 5 minutes from Cromwell.

Did I mention there’s a vineyard right next door?

Someone hand me the pinot noir.

By Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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