The tide is turning on the housing market according to Realestate.co.nz, with the number of homes for sale rising strongly while asking prices head in the opposite direction. Prices were lower in April compared to March in 11 regions and up in eight, with four regions sitting in record asking prices. In Auckland the average asking price has dropped from its February peak of $1,303, 553 to $1,231,996 in April. In the Wellington region the average asking price has dropped from its February peak of $1,033,528 to $986,363 in April, and in Canterbury the average asking price peaked at $755,597 in March this year and dropped back to $730,544 in April. The report said Auckland and Wellington were already buyers' markets and the regions poised to follow suit were Hawke's Bay, Manawatu/Whanganui and Otago.

Source: Otago Daily Times May 02, 2022 03:13 UTC