Listings pressure stays on: Realestate.co.nz
There’s still no sign of let-up in the lack of supply in the property market, particularly in the main centres.
Sunday, April 7th 2013, 12:00AM
by The Landlord
The latest statistics from Realestate.co.nz show the number of new listings nationally fell 3% in March from February and was down 4% on a year before. There were 12,732 new listings in the month.
Wellington and Canterbury had 9.9% and 8.6% year-on-year falls respectively. Auckland’s new property listings dropped by 4.6%.
On a 12-month moving average basis, 131,703 new listings came on to the market between April 2012 and March 2013, 2.8% up on the previous 12-month period. But the number of sales was up 18.1% on the same period.
In 13 of the 19 regions, inventory levels are well below long-term averages. Auckland is 53% below the long-term average and Canterbury is 45% below.
The national mean asking price stabilised at $444,883 in March, up very slightly from February and up 4% on a year before.
Auckland’s mean asking price was a near-record $610,628.
Eight of the regions reported asking price increases in March on the month before. Hawke’s Bay’s asking prices were up 5.1%. But 11 regions reported asking price falls – Central Otago’s prices fell 5.8%, Gisborne’s 9.5% and Taranaki’s asking prices fell by 14.1%.
Taranaki also had a significant drop in listings, down 15.7%.
The market is most firmly in sellers’ favour in central Auckland, Wellington and Canterbury.
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