Fewer homes on the market

The Bay of Plenty is one of four regions experience a lull in the number of new homes being listed for sale.

According to Realestate.co.nz, the BOP, along with the Central North Island, Gisborne, and Central Lakes recorded their lowest number of monthly new listings on record.

The Bay of Plenty is seeing less home being put up for sale.

Nationally, the number of homes newly listed for sale was the lowest on record for the month of June.

The total of 8524 new listings is 20 per cent less than the month before, and 6.1 per cent less than June 2013.

Only Canterbury, Wellington, Northland, and Coromandel experienced an increase in listings from the same time last year.

'The low number of new listings brought the overall number of homes on the New Zealand market down to just 38,693, one of the six lowest monthly totals we've seen,” says Realestate.co.nz marketing manager Paul McKenzie.

'Buyer interest is still very much in evidence. We get more than 45,000 potential home buyers visiting the realestate.co.nz website every day. These are all people specifically looking at properties for sale or rent.”

In June, the average asking price for homes in Auckland reached an all-time record of $732,240. This represents a significant increase from the previous record of $685,426 set in April.

The record asking price in Auckland drove the national average asking price up to an all-time record of $490,550.

All but four of the country's 19 regions recorded higher average asking prices compared to the same month last year.

Wellington recorded an average asking price of $454,358, up from the month before, but not as high as the record set in March.

The average asking price in Canterbury was $443,730, compared to the record of $449,000 set in January.

The average house price in the Bay of Plenty sat around $432,208.

'The high asking prices in Auckland in particular suggest that home sellers are confident they will get their price,” says Paul.

'A factor in this may be the low overall supply of homes on the market.”

You may also like....

1 comment

weird

Posted on 12-07-2014 07:02 | By Capt_Kaveman

there are plenty of empty houses i see on the market that take sometimes months to sell, upmarket house might be increasing in price but the middle and low end are going down around 10-15%


Leave a Comment


You must be logged in to make a comment.