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New Zealand property market back in business

New Zealand property market back in business

The final weeks of the spring selling season in New Zealand have seen an increase in asking prices as a result of short supply levels.

Experts believe many real estate owners are still waiting to see how the property market progresses before deciding to make the move.

Real estate prices in most areas jumped during October and in Auckland house prices have appreciated by 6 per cent over the last few months to give a typical house price of more than $568,770. Only two regions have seen price depreciation during the last three months. The average national residential real estate asking price is now set at $434,165.

This month usually brings a flurry of new properties to market and Industry insiders are looking forward to see how November pans out with the expected upward stream of new listings which could help to steady rising property prices.

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Published: 08-Nov-11

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