House asking prices dip in November

GREG NINNESS
Last updated 11:53 03/12/2013

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The average asking price of homes for sale dipped slightly last month, residential property website Realestate.co.nz says.

The national average asking price of homes listed for sale on the website was $478,931 in November, down 0.6 per cent compared with October.

There was a 3 per cent increase in the number of homes for sale on the website last month, mainly because of a large increase in the number of new listings received in October.

Average asking prices declined in the four main centres, with Auckland down 1 per cent, Wellington down 1.6 per cent, Canterbury down 1.2 per cent and Otago down 0.6 per cent, but the biggest falls in asking prices were in Coromandel, down 13.1 per cent, Hawke's Bay, down 8 per cent, and Bay of Plenty, down 2.2 per cent.

Other regions recorded increased asking prices, led by the West Coast, up 12.8 per cent, Gisborne, up 10 per cent, Taranaki, up 9.7 per cent, Southland, up 8.9 per cent, and Central Otago-Lakes District, up 6.7 per cent.

Even with the slight drop in the asking prices in the main centres, the national asking price last month was still at its second-highest level ever and was up 7 per cent on November last year.

Although the number of new listings received by the website was down 5 per cent compared with October, that was probably the result of a 27 per cent increase in the number of new listings received in October.

"We expect to see a further drop in listings during the traditional seasonal lull over the December to January period," Realestate.co.nz acting chief executive Phillip Dunn said.

"History shows listing numbers will begin to increase again come late January-early February."

November average* asking prices in the regions were:
Northland $396,892
Auckland $659,300
Coromandel $440,210
Waikato $389,886
Bay of Plenty $438,532
Gisborne $303,959
Hawke's Bay $345,375
Central North Island $353,930
Taranaki $328,250
Manawatu-Wanganui $$281,849
Wairarapa $276,367
Wellington $457,701
Nelson $471,610
Marlborough $418,707
Canterbury $436,823
West Coast $298,609
Otago $285,837
Southland $246,723
Central Otago-Lakes $670,920
*Seasonally adjusted mean asking prices.

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- Fairfax Media

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