Latest news with #PropertyPulseReport
Scoop
06-08-2025
- 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
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.
Scoop
07-07-2025
- Business
- Scoop
House Prices Hit Nine Month Low In June
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
13-06-2025
- Business
- Scoop
House Prices And Listings Fall, But Demand Up
Press Release – Trade Me Property The national average asking price has retracted with property prices dropping 1.2 per cent to $845,250, according to Trade Mes latest Property Pulse Report. Trade Me Property Customer Director Gavin Lloyd said that this marked the second consecutive … The national average asking price has retracted with property prices dropping 1.2 per cent to $845,250, according to Trade Me's latest Property Pulse Report. Trade Me Property Customer Director Gavin Lloyd said that this marked the second consecutive month-on-month decline in average asking price, following a 0.8 per cent drop in April. 'We saw prices fall across most of the motu in May, with only four exceptions of the 15 Trade Me Property monitors. Southland (+1.2%), Taranaki (+1.5%), the West Coast (+1.4%) and Manawatū/Whanganui (+0.1%) were the only regions showing some signs of growth.' Metro centre prices hit eight month lows Auckland, Wellington and Canterbury all recorded their lowest prices since September 2024. In Tāmaki Makaurau prices fell 1.5 per cent on April and 2.5 per cent year-on-year to $1,030,850. In Wellington the average asking price in May was $805,100, a 0.6 per cent fall on the previous month and down 2.9 per cent on May 2024. In Canterbury the average asking price fell to $705,650, representing a 0.6 per cent decline both month-on-month and year-on-year. Gavin Lloyd says alongside price decreases, time onsite is starting to increase. 'Buyers tend to take a little more time in the winter months and the current market is already showing signs of this slow down with median days onsite sitting at 70 in May, up from 62 in April,' said Lloyd. Supply and demand The number of listings on Trade Me Property in May fell 1.3 per cent month-on-month but remained five per cent up on May last year. Auckland and Taranaki were the only two regions to show listings growth, albeit modest at one per cent. All other regions monitored by Trade Me Property saw a decline in supply between April and May. In contrast, demand continued to grow recording a 2.4 per cent increase on April, and up four per cent year-on-year. Auckland, Canterbury, Southland and Taranaki all saw demand growth of between five and six per cent from April. 'A plentiful supply of properties, coupled with more affordable loan repayments is giving buyers a sense of renewed confidence and motivation,' said Lloyd.
