For New Zealand Property, it’s a Booming Period: Report

 ReportRecently, NZ Property Report, the monthly update of housing market activity compiled by Realestate. co. nz has been released in which the property listings in New Zealand for the month of August have been shown.

According to the report, there has been noticed a rise of 10% in the property prices in comparison to last month values. Also, in comparison to the same month values last year, this year’s values are 2.4% higher.

Therefore springs this year would be beneficial for the New Zealand property market, but as far as sellers are concerned, it might be compact.

In total there are 10,365 new listings on the national market in August.

It is particularly in Auckland, where the highest average asking price for property has been registered.

Well, at the same time, the lowest level of inventory on record has been also recorded.

When the National asking prices remained steady at $430,443, at the same time, the average asking price reached a breaking record of $585,482 in the Auckland region.

For the first time in last five years, such a high level has been recorded. In comparison to same month last year, it has been increased by 8.2%.

As far as Wellington and Canterbury are concerned, the asking price was on a lower side. It got reduced.