Eight regions had annual stock increases above 30% and none had less stock for sale compared to a year ago. The above figures suggest the market remains firmly in buyers' favour, which is also being reflected in average asking prices on the website which have been tumbling since March. The national average asking price, non-seasonally adjusted, for properties advertised on Realestate.co.nz has declined for the last four consecutive months and was $837,241 in June. The average asking price in Auckland is now perilously close to dipping under $1 million. However the slide in asking prices does have a silver lining.

Source: New Zealand Herald July 02, 2024 23:04 UTC