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• Create and edit saved searches, to keep an eye on new properties in your area
• Calculate commute times from different locations, without leaving the listing page
• Save property notes on a listing 

• Create and edit saved searches, to keep an eye on new properties in your area
• Calculate commute times from different locations, without leaving the listing page
• Save property notes on a listing 

• Create and edit saved searches, to keep an eye on new properties in your area
• Calculate commute times from different locations, without leaving the listing page
• Save property notes on a listing 

• Create and edit saved searches, to keep an eye on new properties in your area
• Calculate commute times from different locations, without leaving the listing page
• Save property notes on a listing 

There has been limited choice for Kiwi property seekers across the country this spring, with both new listings and the total number of homes for sale decreasing in October.

We saw five regions (Bay of Plenty, Wellington, Nelson & Bays, Wairarapa and the Central North Island) hit record asking price highs since our records began in 2007. The Bay of Plenty saw its average asking price tip above $700,000 for the first time. With summer just around the corner, it's unsurprising that Kiwis are considering the move to this sunny seaside region.

Take a look below at what other property trends we saw this month.
 
Kind regards,
Vanessa Taylor
Head of Sales and Marketing, realestate.co.nz
0800 732 536 | vanessa.t@realestate.co.nz

• Buyers remained active in October with more than 1 million unique users on realestate.co.nz, but they certainly weren’t spoilt for choice with the lack of new listings and total number of houses for sale.
• Nationally, new listings were down 17.1% compared to October 2018 and the total number of houses for sale was also down by 13.1%. The only exception to this trend was the Central Otago/Lakes region, where the total number of homes for sale was up 9.6% compared to October 2018.
• Wairarapa led the charge in average asking price increases, with a 15.4% increase to $571,621 - the highest on record in 13 years.
• The majority of those looking at property in the Wairarapa region are located in the Auckland or Wellington regions. “It could be that people from bigger cities have built up equity in their current homes and are keen to capitalise on it by making the food and wine region a place to call home,” says realestate.co.nz spokesperson Vanessa Taylor.

Kiwi property seekers across the country have once again been short for choice in November, with both new listings and the total number of homes for sale considerably down on November 2018. However the number of Kiwis in search of property hasn't slowed - we saw over 1 million unique users visiting realestate.co.nz last month once again. 

Regional New Zealand has been heating up in time for summer. We saw all-time asking price highs since our records began 13 years ago, reached in eight regions during November - reflecting the steady climb in asking prices throughout 2019. 

Take a look below at what other property trends we saw this month or click here.
 
Kind regards,
Vanessa Taylor
Head of Sales and Marketing, realestate.co.nz
0800 732 536 | vanessa.t@realestate.co.nz

• Eight regions - Northland, Waikato, Central North Island, Manawatu-Wanganui, Bay of Plenty, Nelson & Bays, Canterbury and Otago - hit all-time high average asking prices since our records began 13 years ago.

• Many of those looking at property in regional New Zealand are based in Auckland. Northland, Bay of Plenty and the Central North Island appear to be crowd favourites for Aucklanders, with more Aucklanders searching for property in those regions than those already living there.

• "Asking price highs have grown in many parts of New Zealand and for many of these regions, it is not their first high for 2019. The highs and the current low stock levels suggest that Kiwis are waiting to get through the busy Christmas and New Year period before thinking of selling in 2020,” says Vanessa Taylor.

It was a strong seller's market to mark the end of the decade, with three all-time national records in December. Data from realestate.co.nz showed all-time high national average asking prices, combined with record lows in new listings and total homes available for sale - a never before seen trifecta. 

The national average asking price tipped over $700,000 for the first time, but it wasn't the big cities driving this - it was regional New Zealand that led the charge. Bay of Plenty, Nelson & Bays, Southland, Marlborough and Manawatu/Wanganui all hit asking price highs since records began 13 years ago.

Take a look below at what other property trends we saw this month or click here.
 
Kind regards,
Vanessa Taylor
Head of Sales and Marketing, realestate.co.nz
0800 732 536 | vanessa.t@realestate.co.nz

• The total homes available for sale have hit an unprecedented record low, with only 18,230 properties available for sale around the country. Data shows that there were 24.5% less homes available for sale than in December 2018. 

• Vanessa Taylor, spokesperson for realestate.co.nz, says that “with our population growing at a rate of approximately 60,000 people per year over a 10-year span, significant demand for housing is likely to be putting pressure on our property market. In 2020, the total population of New Zealand is estimated to be nearing or exceeding 5,000,000, so we might see this stock shortage continue for some time.

• New listings dropped below 6,000 for the first time, to 5,528 listings nationwide – a decrease of 10.7% since the same month last year. The lack of new houses coming onto the market could mean that Kiwis were more focussed on getting through the last few weeks of work and into the festive season than on selling their homes. 

With summer in full swing, property prices have been following the weather and heating up in January. The national average asking price hit a record high for the second month in a row, reaching $710,393.

We also saw a slight rise in the number of homes for sale when compared to December 2019, which is positive news for those looking to buy. Across the country, however, a shortage still remains, with the total number of homes for sale down 21.7% on January 2019. 

Take a look below at what other property trends we saw this month or click here.
 
Kind regards,
Vanessa Taylor
Head of Sales and Marketing, realestate.co.nz
0800 732 536 | vanessa.t@realestate.co.nz

• January was a busy time for sellers in a few regions across the country, with a focus on the middle of the North Island. Increases in new listings across Otago, Southland, Marlborough and the Central North Island regions is good news for those looking to buy in these areas. 

• Despite low stock in all regions, increased activity in the middle of the North Island could be signalling a market shift, says Vanessa. “When we see new listings increase, it tells us that there is more activity in those areas than there was a year ago – this could be a clue that the tides might turn on the current seller’s market.”

• The average asking price in Auckland, which dipped back to $875,476 in May 2019, hovered between the low to mid $900,000s throughout last year. Last month we saw this trend of peaks and troughs continue, although prices are still marginally below what they were in January 2019.

It's good news for those who invested in property 10 years ago, with our latest research showing property is still a sound investment in New Zealand. 

To wrap up the decade, we took a deep dive into 10 years of realestate.co.nz's data to find out what's happened to average asking prices - and the results are good news for Kiwis who bought a home at the start of the decade.

Our data showed that almost all of our districts across the country have seen increases in average asking prices. We've broken it down so you can find out exactly what happened in your hometown between January 2010 and December 2019. Read the full report here, or read on to see some of the highlights below.

• The biggest increase in asking prices was seen in the Bay of Plenty, with Kawerau having their asking price increase by a whopping 112%.

• The second and third largest increase were in our biggest city Auckland’s Rodney District and Waitakere City. Average asking prices here increased by 87% and 86% respectively, from January 2010 - December 2019.

• Waitomo saw their average asking price drop over the course of the decade - down 20% from January 2010 - December 2019. 

• The second place to see an asking price drop across 10 years was Greymouth, with an 11% drop*.

Healthy asking prices, but not enough houses - is it time for Kiwis to look at alternatives to the quarter-acre dream? 

Our February data shows that New Zealand is still facing a serious stock shortage, with 22.3% less total homes available for sale last month when compared to February 2019. We''ve seen healthy asking prices and all-time highs in five regions, which are likely being driven by this stock shortage - but it''s time to start thinking about how we can solve this problem, by building homes to suit the modern Kiwi. 

• Real-time data from realestate.co.nz shows that despite a decrease on January 2020, the national average asking price is still 4.0% higher than February last year, sitting at $702,510. Asking prices were also up in Northland, Hawke's Bay, Canterbury, Wairarapa and Manawatu/Whanganui with these regions reaching 13-year all-time highs.

• New listings coming onto the market were flat nationally last month, however we did see new listings increase in 12 of our 19 regions when compared to the same month last year. Significant increases were seen in Gisborne, West Coast and Hawke's Bay, with increases of 22.9%, 22.5% and 15.2% respectively compared to February 2019. 

• "In about 2004, New Zealand started to really see an increase in the number of new dwellings being built. We weren't quite keeping up with population growth, but we were certainly taking steps in the right direction. When the GFC hit, we stopped building and now we are experiencing the effects of this quiet period and are struggling to meet the demand for housing," says Vanessa Taylor.