Fewer homes on the market

Last updated 14:29 11/07/2014
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HOUSING TRENDS: The number of homes for sale has dipped, but average prices - especially in Auckland - are at a record high.

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The number of homes newly listed for sale in June on Realestate.co.nz hit an all time low for the month of June.

The 8,524 new listings on the real estate website, which has the country's largest number of homes for sale, was 20 per cent fewer than the month before, and 6.1 per cent down on June last year.

Only Canterbury, Wellington, Northland and Coromandel experienced an increase in listings from the same time last year, while four regions - Bay of Plenty, Central North Island, Gisborne and Central Lakes - recorded their lowest number of monthly new listings on record.

Realestate.co.nz marketing manager Paul McKenzie said the low number of new listings brought the overall number of homes on the New Zealand market down to just 38,693.

''[It's] one of the six lowest monthly totals we've seen.''

However, the average asking price nationally for properties on the website hit a record $490,550.

McKenzie said that was driven by a record average asking price in Auckland of $732,240. This represents a significant increase from the previous record of $685,426 set in April.

All but four of the country's 19 regions recorded higher average asking prices compared to the same month last year.

Wellington recorded an average asking price of $454,358, up from the month before, but not as high as the record set in March.

The average asking price in Canterbury was $443,730, compared to the record of $449,000 set in January.

"The high asking prices in Auckland in particular suggest that home sellers are confident they will get their price," McKenzie said.

The official property sales figures will be released by the Real Estate Institute on Monday.

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