Source: MIL-OSI Submissions
Source: RealEstate.co.nz
The latest data insights from realestate.co.nz have shown that the tables are turning in New Zealand’s property market. We saw Wellington tip into a buyers’ market in March, and in April, Auckland followed. Average asking prices in these two main centres have also largely been on a downward trajectory since February 2022.
Meanwhile, Gisborne, Hawke’s Bay, Otago, Southland, Coromandel, Central Otago / Lakes District and Wairarapa hit all-time asking price highs last month. Tipping over $1 million for the first time was Waikato, where the average asking price was up 41.2% compared to the same time last year.
After several months of average asking prices sitting north of $1 million, Bay of Plenty and Wellington left the $1 million club in April with prices dropping to $908,974 and $971,976 respectively.
