Latest news with #GavinLloyd
Scoop
3 days ago
- Business
- Scoop
Auckland House Prices Dip Below Million Dollar Mark
Press Release – Trade Me Property Gavin Lloyd, Trade Me Property's Customer Director, said the shift illustrated a clear seasonal pattern for the region and has been seen before. 'This dip has occurred earlier than last year, suggesting that we may see a more prolonged period of prices … The average asking price for a house in Auckland has dipped below the million-dollar mark, falling to $989,250 in July, according to the latest Trade Me Property Pulse Report. This represents a decrease of nearly $17,000, or 1.7 per cent, from June and is a significant drop from the March average of $1,057,300. This marks the first time since September 2024 that the average asking price in Tāmaki Makaurau has fallen below $1 million. Gavin Lloyd, Trade Me Property's Customer Director, said the shift illustrated a clear seasonal pattern for the region and has been seen before. 'This dip has occurred earlier than last year, suggesting that we may see a more prolonged period of prices below the million-dollar threshold in 2025. 'Last year, prices remained under $1 million for two months, and we anticipate this year's trend could last a little longer, offering a unique opportunity for buyers.' The national average asking price also saw a decrease in July, dropping to $821,750, a 1 per cent drop from June and a 0.4 per cent decline compared to July last year. The regional highs (and lows) The Bay of Plenty experienced a notable month-on-month decrease of 3.0 per cent, with the average asking price at $829,950 in July. Year-on-year prices are down more than 2 per cent. Taranaki saw one of the most significant monthly decreases in the motu with the average asking price falling 4.1 per cent on June to $661,900. Year-on-year prices are down 1.9 per cent in the region. Canterbury saw a slight increase in price, rising 0.5 per cent from June to $701,800. 'If we take Canterbury and compare average asking prices to a year ago it's faring well, with prices up 1.2 per cent on July 2024. 'Southland is another region to call out, while prices are flat month-on-month (-0.4%) it's showing solid growth on last year with the average asking price up more than 5 per cent – the strongest year-on-year growth of all regions we monitor.' Favourable conditions for buyers Despite the overall easing of prices, the market still has a healthy number of properties available. 'The current market dynamic is a golden opportunity for buyers,' says Mr. Lloyd. 'With prices moderating and a good selection of homes available, buyers have the time to conduct their due diligence and make a confident, well-informed purchase.' The number of residential properties for sale fell by 3 per cent between June and July but remained flat year-on-year. Meanwhile demand, as measured by total listing views, increased by 3 per cent month-on-month. 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 Index 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 Index 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. Some of the numbers in this release have been rounded
Scoop
3 days ago
- Business
- Scoop
Auckland House Prices Dip Below Million Dollar Mark
Press Release – Trade Me Property The average asking price for a house in Auckland has dipped below the million-dollar mark, falling to $989,250 in July, according to the latest Trade Me Property Pulse Report. This represents a decrease of nearly $17,000, or 1.7 per cent, from June and is a significant drop from the March average of $1,057,300. This marks the first time since September 2024 that the average asking price in Tāmaki Makaurau has fallen below $1 million. Gavin Lloyd, Trade Me Property's Customer Director, said the shift illustrated a clear seasonal pattern for the region and has been seen before. 'This dip has occurred earlier than last year, suggesting that we may see a more prolonged period of prices below the million-dollar threshold in 2025. 'Last year, prices remained under $1 million for two months, and we anticipate this year's trend could last a little longer, offering a unique opportunity for buyers.' The national average asking price also saw a decrease in July, dropping to $821,750, a 1 per cent drop from June and a 0.4 per cent decline compared to July last year. The regional highs (and lows) The Bay of Plenty experienced a notable month-on-month decrease of 3.0 per cent, with the average asking price at $829,950 in July. Year-on-year prices are down more than 2 per cent. Taranaki saw one of the most significant monthly decreases in the motu with the average asking price falling 4.1 per cent on June to $661,900. Year-on-year prices are down 1.9 per cent in the region. Canterbury saw a slight increase in price, rising 0.5 per cent from June to $701,800. 'If we take Canterbury and compare average asking prices to a year ago it's faring well, with prices up 1.2 per cent on July 2024. 'Southland is another region to call out, while prices are flat month-on-month (-0.4%) it's showing solid growth on last year with the average asking price up more than 5 per cent – the strongest year-on-year growth of all regions we monitor.' Favourable conditions for buyers Despite the overall easing of prices, the market still has a healthy number of properties available. 'The current market dynamic is a golden opportunity for buyers,' says Mr. Lloyd. 'With prices moderating and a good selection of homes available, buyers have the time to conduct their due diligence and make a confident, well-informed purchase.' The number of residential properties for sale fell by 3 per cent between June and July but remained flat year-on-year. Meanwhile demand, as measured by total listing views, increased by 3 per cent month-on-month. 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 Index 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 Index 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. Some of the numbers in this release have been rounded
Scoop
17-07-2025
- Business
- Scoop
Kiwi Home Buyers Near $30 Thousand Dollar A Minute Decision
A new survey from Trade Me has revealed Kiwi house hunters open home behaviours - with admissions of peeking in bathroom cabinets and at family photos, to insights on time spent at viewings. Those seriously considering a property spent an average of 28 minutes at an open home, according to the survey of more than 1,000 people who have attended a viewing in the last two years. Trade Me Property figures show the average asking price for a property in Aotearoa in June was $829,650 which puts time spent deciding to buy at $29,630 a minute. Trade Me Property Customer Director Gavin Lloyd says the survey findings are illuminating. 'Purchasing property is a huge decision and likely the biggest financial one people will have to make, and yet you could spend longer listening to The Beatles Hard Day's Night album or watching an episode of Shortland Street, than some do at an open home for a place they wish to buy. 'No doubt, by the time you factor in due diligence the overall decision time increases; however, it does serve as a timely reminder for those seriously considering buying to take the time to scrutinize the purchase, get a building report, check the LIM and titles and research the neighbourhood. Being well-informed can not only save unforeseen costs down the line, but can lead to a more confident decision.' Further survey findings found nearly a quarter (23%) of those who had recently purchased property, visited more than 20 open homes before buying and 59 per cent agreed to feeling an emotional attachment to a property. 'Finding and buying a home is as much an emotional journey as it is a financial one. There are many feelings tied up in the process, from the excitement of finding 'The One' to the stress that can come with making what is a significant investment - it can be a rollercoaster.' Of those polled, 72 per cent said they looked inside wardrobes, 69 per cent in cupboards and drawers, 58 per cent tested the water pressure, 39 per cent admitted to peeking in bathroom cabinets and 14 per cent spent time looking at photos and personal items on display. 'More than half admitted to placing a fair to great amount of attention on cosmetic features such as the colour of walls, flooring and other surfaces which was somewhat surprising given these features are not permanent, or easily changed to better suit a buyer's taste,' says Gavin Lloyd. Survey methodology The survey was conducted by Trade Me's User Experience team in June 2025 and collated responses from 1,008 New Zealanders aged 18-80 years old.
Scoop
07-07-2025
- Business
- Scoop
House Prices Hit Nine Month Low In June
Press Release – Trademe In June the average asking price was $829,650, down more than $15,000 (-1.8%) on May and -1.4 per cent year-on-year. The national average asking price has fallen to its lowest since September 2024, shows Trade Me's latest Property Pulse Report. In June the average asking price was $829,650, down more than $15,000 (-1.8%) on May and -1.4 per cent year-on-year. Trade Me Property Customer Director Gavin Lloyd said Auckland prices have taken the largest hit. 'Tāmaki Makaurau has seen the largest decline in the average asking price, from both a month-on-month (-2.4%) and year-on-year perspective (-2.7%). 'If we look at the price in June, and compare it to the same time last year it shows a fall of close to $28,000. That said, the average asking price of property in Aotearoa's largest city continues to hold above the million dollar mark (at $1,005,950), $150,000 more than the Bay of Plenty, which is the next most expensive region,' said Lloyd. Deep South, good gains The average asking price for a property in Otago has grown by close to $54,000 in the year to June, a 6.7 per cent increase. There are four districts within the region driving the increase, Waitaki where prices are up 2.8 per cent year-on-year, Dunedin (+2.2%), Queenstown Lakes (+1.8%) and Wanaka (+1.3%) 'Otago is a huge and diverse region, it's laid-back, incredibly scenic and is particularly appealing for lovers of the great outdoors, a wonderful place to call home. 'With recent Census figures showing increasing Kiwi to be moving south it will be interesting to see if the growth in house prices in Otago continues its steady upward trajectory,' says Mr Lloyd. Outside of Otago, Southland has also made good gains across the year with the average asking price up 3.4 per cent or around $17,000. 'The average price in Southland in June was just over $522,000, so while it's on the up it still remains one of the most affordable regions across the motu.' Further north, both Hawkes Bay and Taranaki show strong year-on-year growth. The average asking price in Taranaki is up 5.2 per cent or close to $35,000, while Hawkes Bay prices have increased 3.8 per cent year-on-year, the equivalent of more than $27,000. Supply and demand down both fall The number of listings on Trade Me Property, which hit a decade high in March, fell nine per cent between May and June but remained four per cent up year-on-year. Demand was also down 12 per cent on the month prior but flat compared to June 2024. 'Seeing supply dip at this stage of the year isn't unexpected, but there remains plenty of choice in the market for those house hunting with several thousand more properties listed on site than the same month last year,' says Mr Lloyd. The median number of days onsite increased from 70 in May to 78 in June.
Scoop
07-07-2025
- Business
- Scoop
House Prices Hit Nine Month Low In June
Press Release – Trademe In June the average asking price was $829,650, down more than $15,000 (-1.8%) on May and -1.4 per cent year-on-year. The national average asking price has fallen to its lowest since September 2024, shows Trade Me's latest Property Pulse Report. In June the average asking price was $829,650, down more than $15,000 (-1.8%) on May and -1.4 per cent year-on-year. Trade Me Property Customer Director Gavin Lloyd said Auckland prices have taken the largest hit. 'Tāmaki Makaurau has seen the largest decline in the average asking price, from both a month-on-month (-2.4%) and year-on-year perspective (-2.7%). 'If we look at the price in June, and compare it to the same time last year it shows a fall of close to $28,000. That said, the average asking price of property in Aotearoa's largest city continues to hold above the million dollar mark (at $1,005,950), $150,000 more than the Bay of Plenty, which is the next most expensive region,' said Lloyd. Deep South, good gains The average asking price for a property in Otago has grown by close to $54,000 in the year to June, a 6.7 per cent increase. There are four districts within the region driving the increase, Waitaki where prices are up 2.8 per cent year-on-year, Dunedin (+2.2%), Queenstown Lakes (+1.8%) and Wanaka (+1.3%) 'Otago is a huge and diverse region, it's laid-back, incredibly scenic and is particularly appealing for lovers of the great outdoors, a wonderful place to call home. 'With recent Census figures showing increasing Kiwi to be moving south it will be interesting to see if the growth in house prices in Otago continues its steady upward trajectory,' says Mr Lloyd. Outside of Otago, Southland has also made good gains across the year with the average asking price up 3.4 per cent or around $17,000. 'The average price in Southland in June was just over $522,000, so while it's on the up it still remains one of the most affordable regions across the motu.' Further north, both Hawkes Bay and Taranaki show strong year-on-year growth. The average asking price in Taranaki is up 5.2 per cent or close to $35,000, while Hawkes Bay prices have increased 3.8 per cent year-on-year, the equivalent of more than $27,000. Supply and demand down both fall The number of listings on Trade Me Property, which hit a decade high in March, fell nine per cent between May and June but remained four per cent up year-on-year. Demand was also down 12 per cent on the month prior but flat compared to June 2024. 'Seeing supply dip at this stage of the year isn't unexpected, but there remains plenty of choice in the market for those house hunting with several thousand more properties listed on site than the same month last year,' says Mr Lloyd. The median number of days onsite increased from 70 in May to 78 in June.
