NZ house prices through the roof

Reports for New Zealand real estate professionals suggest sales levels remain high and asking prices in general continue to climb.

Real estate buyers are out in force from all sectors of the property market including first home buyers, established property owners looking to move up the ladder and property investors with the financial means to secure the right property with great rental potential.

According to a recent report seasonally adjusted average asking prices recorded during last month increased by more than $3,000 from February and now stand at around $430,000.

However while buyers are evident in high numbers new listings are not at the levels that many industry experts would expect at this time. Without more new properties coming to market house prices could creep even higher which would lead to affordability issues for many residents hoping to buy a property in New Zealand.