A rise in new property listings nationally is strongly underpinned by Canterbury and Wellington regions.
Real-time data from realestate.co.nz shows new property listings rose year on year for the first time since November 2017, when looking across New Zealand. New properties to market hit 9,899 in April, representing a 1.9% increase compared to the same period last year.
“On the face of it this increase looks relatively modest, but it’s a case of several smaller regions offsetting a volume drop in Auckland,” says Vanessa Taylor, spokesperson for the country’s largest property
Wellington region – lift in new listings good for market
“Geographically, the Wellington region is relatively small compared to the likes of Canterbury and Auckland and it’s tightly held,” says Vanessa Taylor.
However, in April, the Wellington region recorded 754 new listings, which was the second highest increase of new listings of any region in the country. It represented a 13.6% increase on April 2017.
“This is good news for the region which has been relatively starved of new listings,” she says.
In April the Wellington region experienced a 1.4% fall in average asking price compared with the prior month. The April average asking price was $603,949, compared to $612,697 in March (which was a record high).
“With an increase in new listings and fine tuning in asking prices, Wellington is looking healthy right now,” says Vanessa.
Given that the region has been tightly held, it’s no surprise that Wellingtonians lead the online search for property in their region, followed by Aucklanders and Cantabrians.
The region is also attracting attention from offshore, with the next largest group searching for Wellington property originating from New South Wales.
The most popular search was for Te Aro, followed by Wellington Central, Khandallah, and Waikanae.
Above information from www.realestate.co.nz