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NZ house listing prices back up: Trade Me

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New Zealanders are back to asking for more money when selling their homes after a summer slump in the housing market, according to new data from Trade Me.

The average asking price for homes on the online auction website rose 1.6 per cent in February, and nine per cent for the 12 months previous, bringing the national average asking price up to $NZ550,600 ($A488,000).

It comes after three consecutive falls in November, December and January.

Much of the hesitancy in the market has been washed out with vendors now back to asking for more, says Trade Me property chief Nigel Jeffries.

"In summer the market took its foot off the gas, but as we anticipated it looks to be back on track," he said on Wednesday.

"While not hitting any record highs, the average asking price nationwide is up more than $45,000 on a year ago."

Auckland was the main driver for the national-wide growth in February, with the expected average property selling price increasing just 0.9 per cent without the most-populous city's contribution.

"While the red-hot Auckland property market winced in January, we've seen new listings in February inject some energy."

Outside of Auckland, property prices on average rose by $20,000 in the past 12 months.

Hawke's Bay had the greatest growth at 15.3 per cent, while the Taranaki region went the other way with for sale prices contracting by 11.2 per cent.

PROPERTY PRICE INDEX CHANGE IN 12 MONTHS TO FEBRUARY

THE WINNERS

Northland - up 10 pct

Auckland - up 15.1 pct

Bay of Plenty - up 11.6 pct

Waikato - up 9.6 pct

Gisborne - up 9.2 pct

Hawke's Bay - up 15.3 pct

Manawatu/Wanganui - up 4.1 pct

Wellington - up 5.4 pct

Nelson/Tasman - up 4.1 pct

Marlborough - up 3.8 pct

Canterbury - up 3.7 pct

Otago - up 0.7 pct

Southland - up 2.2 pct

THE LOSERS

Taranaki - down 11.2 pct

West Coast - down 0.7 pct

Source: Trade Me


Real Estate Investar Editor
Real Estate Investar Editor
Real Estate Investar provides intelligent software, tools and data to help you save time and make money in the residential property investment market.

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