The latest data from the Real Estate Institute of NZ and its sister organisation Realestate.co.nz shows the average difference between asking prices and selling prices is more than $100,000. In March this year the average asking price for residential properties throughout the country listed for sale on Realestate.co.nz was $883,823, while the REINZ's national median selling price in the same month was $775,000. The difference between asking and selling prices has been above $100,000 in each of the first three months of this year. According to Realestate.co.nz, the average difference between asking and selling prices has been 5.7% over the last 16 years. The biggest difference between asking and selling prices was 22%, which occurred in January 2017 and then again in April 2020.

Source: Stuff April 21, 2023 18:35 UTC