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Auckland Average Asking Price Hits $1M Record

Nation stocks remain at a record low

Victoria Day – Harcourts Pukekohe

with Victoria Day – Harcourts Pukekohe

Low stock numbers of houses around the country are still driving high asking prices – despite it being a year on year increase in new listings over the last 4 months.

Whilst Auckland is tipping over the $1m mark for the first time the regions are also showing dramatic growth with both Taranaki and the central North Island experiencing a 13-year high.

  • Auckland asking price: $1,003,575 (up 2.2%)
  • Waikato asking price: $665,437 (up 0.7%)

Demand is outstripping supply with the total number of houses available in September down by 17% of the same month in 2019 (7.5% in Auckland).

The fact that interest rates, relaxed restrictions and high confidence in the market alongside a lack of supply are all seen as the key factors hitting all at the same time.

Days to sell is always a strong indicator of the heat in the market – nationwide properties took 32 days to sell, 4 days quicker than August.

The biggest issue facing the property market is the lack of homes to sell. We are seeing as a result multiple offers on properties going to Tender and a large turnout at Auctions. So now is the best time to sell!

If you are thinking of selling than give me a call, I am more than happy to help you on the road to your next adventure.

My sellers are often achieving a sale price that exceeds their expectation as a well-connected agent I am also able to assist in finding the perfect next home once a property sells.

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elocal Digital Edition – November 2020 (#236)

elocal Digital Edition
November 2020 (#236)

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