Property Prices Cool Across The Motu
Property prices have fallen for the second time this year, according to Trade Me's Property Pulse Report.
The average asking price for a property in April was $855,150, down 0.8 per cent on March and 2.6 per cent year-on-year.
Trade Me Property Customer Director, Gavin Lloyd says house prices dipping at this stage of the year is somewhat typical and can largely be attributed to seasonal fluctuations.
'Historically, as we move into the colder months of the year we see a dip in buyer activity, and this is reflected in the most recent data. House hunting is a lot more appealing when the sun is shining and properties look and feel their best,' says Mr Lloyd.
The number of days properties spent onsite also increased from an average of 56 days in March to 62 days in April, but remains well down on the average 85 days in January.
'The rule of thumb is that the longer properties spend on the market, the more sellers need to adjust their expectations, particularly when it comes to price. This is especially true in a market where there's plenty of supply to choose from,' says Mr Lloyd.
Auckland records largest decline this year
Tāmaki Makaurau property prices fell -1.0 per cent on March and represent the biggest month-on-month decline in eight months. Year-on-year prices in the country's largest city are down -3.2 per cent.
'Property prices in Auckland have been consistently inconsistent in recent months. In March we saw the average asking price reach a 10-month high, and for April prices recorded the largest fall since August 2024.
'After dipping below the million dollar average last August, many will be keeping a watchful eye on the city of sails as to how things play out as we move closer to winter.'
Drop in supply, and demand
The number of listings on Trade Me Property, which hit a decade high in March, fell four per cent between March and April. Demand was also down 13 per cent month-on-month.
'Of the 15 regions we monitor at Trade Me Property, each one recorded a decline in supply from the month prior with the biggest drops recorded on the West Coast (-7%), Nelson/Tasman (-7%), Canterbury, Gisborne and Taranaki all down six per cent respectively.'
Lloyd says while the number of listings on Trade Me Property fell between March and April there remains plenty of choice for house-hunters.
'To give some perspective, we had several thousand more properties listed onsite in April of this year compared to April 2024. That means buyers continue to have plenty of leverage and to secure a sale, vendors are going to need to meet the market, particularly in regards to realistic price expectations.'
About the Trade Me Property Pulse Report:
The Trade Me Property Pulse Report measures trends in the expectations of selling prices for residential property listings added to Trade Me Property by real estate agents and private sellers over the past three months.
It provides buyers, sellers and realtors with insights into 'for sale' price trends by property type and property size.
The report is produced from data on properties listed on Trade Me Property in the three months leading up to the last day of each period. Each period's value is a truncated mean of the complete three months' worth of listings. This is to better reflect trends in property prices rather than month-to-month fluctuations in housing stock.
The report uses an '80 per cent truncated mean' of the expected sale price to calculate the average asking price. This excludes the upper and lower 10 per cent of listings by price, and averages the expected sale prices of the remaining properties.
It provides an insight into 'for sale' price trends by type and size of property. Other reports aggregate property price data across these various properties.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Otago Daily Times
37 minutes ago
- Otago Daily Times
Job losses 'inevitable' in cruise industry slump
By Felix Walton of RNZ The cruise sector hopes crisis talks at this year's industry conference will help chart a course through rocky financial waters. The theme of this year's NZ Cruise Association Conference - 'This is Not a Drill' - speaks for itself. Passenger numbers have fallen year on year, down 20 percent last summer and projected to fall another 20 percent this year, but NZCA chief executive Jacqui Lloyd maintains an optimistic outlook. "It is a little [like] crisis talks, but there is also a lot of positivity," she told RNZ, between panel discussions from the conference in Napier. "[We're talking about] how we all need to work together, and make sure that the messaging is going out around central and local government on how important cruise is for regional economies, particularly our tourism and hospitality operators." Lloyd expected 660 port calls and about 215,000 cruise passengers to visit New Zealand shores in the 2025/26 season. "That's down from 1120 port calls in 2023/24 and around 330,000 passengers." She said the industry could do little to adapt, rather policy change was needed to keep it from sinking. "We'd rather not adapt, to be honest. We'd like to instead make sure that we get some return in that business, and a key part of it has been around working with government on regulatory changes, transparency on increased costs, and also biosecurity risks." Lloyd said New Zealand was particularly harsh on biofouling - the build-up of algae and other microorganisms on a ship's hull. "[There's a] risk of being turned away, because we don't have a safety net in New Zealand to allow any kind of cleaning, if ships do have any issues, and cruise lines have to go off the 12-mile limit, and wait for a calm day for a diver to go down and clean the ship. "Meanwhile, passengers are on board, wondering why they're not at the destination that they had planned, so that's a real strong risk from a brand reputation and cost reputation." Lloyd said representatives from Ports of Auckland had also spoken at the conference about their plans to facilitate in-water cleaning for visiting ships. "Ports of Auckland has been speaking today about the trials they're doing for in-water cleaning, which has been positive, and they are working with MPI on how they might be able to do that going forward," she explained "That's safe cleaning, not only for the ship, but also New Zealand's environment. We don't want to let any nasties into our waters and cause concerns with our aquaculture industry." Meanwhile, the volatility of New Zealand's tourism policies were problematic for operators that often planned cruises years in advance. "Passengers will book their cruises two years in advance and we've had cases recently where government agencies have increased costs by $11, $12, $20 per passenger, with only a very short two- to three-month window," she said. These challenges were causing a decline in New Zealand's global reputation as a cruise destination. "[It was] interesting talking to Princess Cruises today, who spoke at conference, and talked about the fact that the searches for New Zealand and Australia for Princess are down quite considerably on what they have been previously," Lloyd said. "We will need to do a lot of work, as a nation, to promote passengers to come back to our shores." She said job losses would be inevitable. "There will be [job losses], and that will predominantly be through hospitality and tourism providers, drivers for coaches, likely within ports for teams that usually will look after cruise vessels. "There are 10,000 jobs created by [the cruise industry] in the 2023/24 season and we do have concerns that we'll see a reduction for this season coming." Viv Beck, the chief executive of central Auckland's business association Heart of the City, said cruises were an essential source of visitors. "[Cruises] are really important and particularly at a time where spending is down, and we've had severe impacts with construction and Covid-19, and all of the above," she said. "This is one of the means of getting people in here and they arrive right on our doorstep at the bottom of Queen Street. "A reduction in numbers is definitely going to be missed."
Scoop
a day ago
- Scoop
100,000 Visitor Milestone For Bike Hubs Shows Aucklanders Really Want To Ride
Press Release – Ecomatters Environment Trust An Auckland charity that started their first Bike Hub in a humble container eight years ago has just clocked up 100,000 visitors across the nine hubs it now operates. It's largely thanks to Aucklanders showing up week after week to buy or donate second hand bikes, or to learn how to maintain the bikes they already have, says EcoMatters Environment Trust's Bike Manager Brent Bielby. It's also been made possible with the backing of a wide range of funders who saw the potential in EcoMatters' original concept, plus the incredible commitment and passion of staff and volunteers – many of whom have been assisting Aucklanders since 'day one.' 'We're blown away by the support we've had from Tāmaki Makaurau, which truly shows Aucklanders want access to this type of community service in their lives. It's all about making it easy for people to get on a bike,' adds Bielby. In the 2024-2025 financial year alone, EcoMatters' nine Hubs have seen over 35,000 visitors; fixed 12,267 bikes with those visitors and sold 2158 bikes that were donated for refurbishment and resale. EcoMatters CEO Carla Gee adds that reaching this overall milestone shows the demand is there, not just for individuals, but for the whole family. 'I'm particularly proud that this is a space for the whole whānau to enjoy. Making cycling accessible and affordable for more people of all ages is good for our community and our health. It's also good for the health of the environment, which of course is the basis on which EcoMatters operates.' Gee explains that one of their key focuses is making cycling accessible for short journeys that people often default to driving for: '…we know that carbon emissions can be significantly reduced by taking this 'everyday' approach to using a bike.' Reaching the 100,000 mark adds weight to cycling statistics such as Auckland Transport's monthly cycling monitor tool, showing a 4.5% YOY increase in cycling movements around the region. But Bielby believes the influence of the Hubs far exceeds 100,000, because those newly empowered visitors who visit them go back home and share their skills with whānau and friends. 'Cycling counters and other tools are great, but our Hubs give us a much broader, deeper picture of cycling in Tāmaki Makaurau. Our figures indicate that there are more people interested in cycling than is reported in a range of media, and this is so encouraging.' All Bike Hub Statistics July 2024 TO June 2025 New Lynn Bike Hub saw 4659 visitors; fixed 1704 bikes, and sold 265 donated and refurbished bikes Henderson Bike Hub saw 3620 visitors; fixed 1437 bikes and sold 307 donated and refurbished bikes Glenn Innes Bike Hub saw 2884 visitors; fixed 1525 bikes and sold 209 donated and refurbished bikes Queens Wharf Bike Hub saw 3857 visitors; fixed 1280 bikes and sold 170 donated and refurbished bikes Pakuranga Bike Hub saw 3261 visitors; fixed 1267 bikes and sold 285 donated and refurbished bikes Onehunga Bike Hub saw 3195 visitors; fixed 1210 bikes and sold 232 donated and refurbished bikes Grey Lynn Bike Hub saw 5776 visitors; fixed 1703 bikes and sold 242 donated and refurbished bikes Manukau Bike Hub saw 4440 visitors; fixed 995 bikes and sold 199 donated and refurbished bikes Forrest Hill Bike Hub saw 3422 visitors; fixed 915 bikes and sold 249 donated and refurbished bikes Notes: The first Bike Hub opened in New Lynn in April 2017, with the aim of providing community connection around cycling. It was backed by the Whau Local Board and a Lotteries NZ grant, then Auckland Transport came onboard. EcoMatters Bike Hubs are found in: New Lynn, Henderson, Grey Lynn, Glen Innes, Manukau, Pakuranga, Onehunga, Forrest Hill and Queens Wharf By 2022, there were four hubs which had collectively hosted more than 30,000 visitors, helped fix more than 10,000 bikes and kept more than 2,000 bikes out of landfill through restoration and resale. Today EcoMatters operates nine sites which are staffed by a mix of employees and volunteers, thanks to support from Auckland Transport. EcoMatters is proud to be part of the wider Bike Hubs network of 14 hubs right across Tāmaki Makaurau. The hubs offer free access to tools and advice on basic bike maintenance, restored and safety-checked second-hand bikes as well as new bike parts and accessories for sale, safe cycling advice and guidance, free cycling maps and local advice about bike routes. EcoMatters Bike Hubs are grateful for the support of the Henderson-Massey, Maungakiekie-Tāmaki, Waitematā and Whau local boards, Auckland Council, Auckland Transport, Eke Panuku, Tāmaki Regeneration, NZ Lotteries Grants Board, as well as the EcoMatters team, volunteers, donors and visitors.
Otago Daily Times
a day ago
- Otago Daily Times
Big interest in sale of 162-year-old hotel
Interest has been high in the Cardrona Hotel. PHOTO: SUPPLIED The listing for the iconic Cardrona Hotel has been the third-most viewed property on Trade Me this year as the sale comes to an end on Friday. The 162-year-old hotel and restaurant located between Wānaka and Queenstown went on the market over a month ago and has had over 130,000 views on Trade Me. A spokesperson for the auction site said this was the third-highest number of views they had seen all year right behind Christchurch's Ark House and Paul Henry's mansion in Auckland. Cardrona Hotel owners Cade and Alexis Thornton said they had narrowed their discussions down to eight groups, after receiving interested buyers from New Zealand, Australia, the United States and Singapore. "Each group are fantastic operators with a background in hospitality or hotels," Ms Thornton said. "Alexis and I are confident that we'll find a highly skilled and experienced publican who will do great things for the hotel." Trade Me Property spokeswoman Casey Wylde previously said although it would be difficult to estimate the price the hotel would be sold for, it was expected to sell for more than the average asking price in Wānaka, which was $1,558,950 last month. PHOTO: SUPPLIED Trade Me property customer director Gavin Lloyd said given the hotel has proved to be such a landmark, it would be hard to put a potential price tag on it. "Its charm, history and stunning location are undoubtedly driving its popularity. "The Cardrona Hotel is more than just a property, it's an opportunity to own a much-loved and recognised Kiwi icon." There has also been strong interest from global media, with the Cardrona Hotel appearing in the news around the world, from Australia to Iceland. "It has been really nice to see that almost all the interested parties already have an emotional connection to the hotel and have visited or stayed with us in the past," Mr Thornton said. Expressions of interest for the sale of the freehold going concern close at 4pm on Friday.
