The Bay of Plenty region reached record high average asking prices in November, according to data from website Realestate.co.nz.

Coromandel and Waikato also reached record prices, but the national average asking price of homes for sale continues to plateau and remains below record highs achieved three months ago.

File photo.

In the Bay of Plenty, the average asking price during November was a record high of $487,025, which is up from $481,730 in October.

Up in the Coromandel, the average asking price was $554,303 - up from $539,597 in September - while over in the Waikato it was $413,067, up from $403,640 in August.

'There have been strong indications over recent months that Aucklanders are house hunting further afield, which is helping to raise the expectations of sellers in these neighbouring regions,” explains Brendon.

The national average asking price in November was $547,515, which is up by 1.4 per cent from October, but still slightly down from the national record of $568,215 in August.

While new listings nationally show a 5.6 per cent reduction from the same month last year, once again the Bay of Plenty, Coromandel and Waikato are among the regions bucking this trend with all three regions having the most new listings for any November for at least five years.

'Nationally, we've seen fewer listings this year than we have since November 2009,” adds Brendon.

'This may further exacerbate the shortage of inventory, which still hovers near the all-time low of 16.1 weeks we reached last month.”