Seasonal shift
Smaller centres were home to the market action last month, as choice for buyers increases in Auckland.
Sellers in regional New Zealand have been capitalising on the holiday season to sell their properties, new data suggests.
January statistics from realestate.co.nz show that the main centres’ property markets cooled through the month.
Average asking prices in Auckland fell 4 per cent from the previous month to $943,543.
In Christchurch, asking prices were down 2.1 per cent. Wellington and Waikato’s were stable.
The total number of houses for sale in those areas was up compared with the same time a year ago, indicating properties were not selling quickly.
In Auckland, available stock was up 20.4 per cent compared with a year earlier, followed by Waikato, up 15.2 per cent, and Canterbury, up 13.8 per cent.
There were fewer new listings during the month in both Auckland and Waikato compared with January 2017.
But realestate.co.nz spokeswoman Vanessa Taylor said Northland, the Central North Island, Bay of Plenty, Gisborne, Hawke’s Bay, Wairarapa and Marlborough were a ‘‘hive of activity’’ in January. Asking prices were up and stock numbers down in all those areas.
‘‘It’s interesting that most of these regions are known holiday destinations, and it could well be that sellers in these locations are taking advantage of the visitor season and a seller’s market.’’
Gisborne led the country, with a 19.5 per cent hike in asking prices compared with December, to reach an average of $344,082.
The Marlborough region, a popular holiday destination, had the biggest asking price increase in the South Island, up 6.4 per cent month on month.
‘‘Central Otago-Lakes would be the other holiday destination you could assume would be on the list, but it painted a different picture,’’ Taylor said.
In Central Otago-Lakes, asking prices fell 10.6 per cent compared with the previous month, while total stock fell 5.1 per cent when compared with the same period last year.