Latest news with #TradeMeProperty
1News
07-05-2025
- Business
- 1News
Property: National average asking price drops in April
The average asking price for a property fell in April, the second monthly drop this year, according to new figures from Trade Me. According to Trade Me's Property Pulse Report, the average asking price for a property in April was $855,150, down 0.8% compared with March and 2.6% year-on-year. Auckland fell 1% compared with March - the biggest month-on-month decline in eight months. The average asking price was $1,046,900. Year-on-year, prices in Auckland are down 3.2%. 1News' Simon Mercep asked Trade Me Property customer director Gavin Lloyd what drove the dip. (Source: 1News) Trade Me Property customer director Gavin Lloyd said the drop was "somewhat typical" for this time of year and attributed it 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," he said. "House hunting is a lot more appealing when the sun is shining and properties look and feel their best." He described Auckland's prices as "consistently inconsistent", with prices experiencing a 10-month high in March, followed by the largest fall since August 2024 in April. '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.' Lloyd said a level of "uncertainty" hovering over the market had also impacted prices. "It's just having that lingering impact on the confidence of people to come into the market." The number of days properties spent listed on Trade Me increased to 62 days in April from 56 in March. This still remained lower than Trade Me's previous average of 85 days in January. Lloyd said this likely had an impact on average asking prices. '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." The number of properties listed on Trade Me experienced a 4% drop between March and April. Demand also dropped 13% month-on-month. The biggest drops were on the West Coast (down 7%), Nelson/Tasman (down 7%), Canterbury (down 6%), Gisborne (down 6%), and Taranaki (down 6%). Lloyd said that while listings were down, buyers still had plenty of choice with "several thousand" more listings in April 2024 compared to April 2025. "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.'
Scoop
06-05-2025
- Business
- Scoop
Property Prices Cool Across The Motu
Press Release – Trade Me Property 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.
Scoop
06-05-2025
- Business
- Scoop
Property Prices Cool Across The Motu
Press Release – Trade Me Property 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 … 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. Some of the numbers in this release have been rounded
Scoop
06-05-2025
- Business
- Scoop
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. Advertisement - scroll to continue reading '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.
1News
23-04-2025
- Business
- 1News
'Pain' for property investors as rental listing levels hit high
One property investor says there is pain for some investors in the rental market as listings reach record numbers. Trade Me Property says the number of homes available for rent has reached a level not seen in more than 10 years. There were 41% more rental listings in March than in the same month last year, the highest number since 2014. "I think there's quite a few contributing factors at the moment," said Trade Me Property customer director Gavin Lloyd. "We've got a lot of new build properties that have come to market in certain parts of the country. That's putting a lot more stock into the market. "I also think we've seen a lot of people leaving the country and vacating rentals, so a combination of those two things is certainly having an impact in certain markets." The high number of listings for rent was reducing what landlords could charge for their properties, too. The median rent fell 2.3% year-on-year in March, to $635 a week. "Compared to March 2024, tenants are saving an average of $15 a week, which would add up to just under $800 a year," Lloyd said. Median rent in Taranaki was down 4.8% year-on-year. It was prompting some landlords to offer perks with their rental properties to entice people in. Lloyd said that was something that had not been seen for a number of years. "A free week's rent, even I think we've been seeing grocery vouchers and the like. So a lot of enticement to get really good tenants into properties." Property investment coach Steve Goodey said a number of property investors were struggling. "It's a classic oversupply, we added so many houses to the market with the Ardern [government's] incentives, that we have too many homes and renters have so many options. "Add to that the massive increase in the cost to supply a home to market and you get a situation where landlords will have to discount to get homes full and we have a renters' market. If you have a $700-per-week house empty for eight weeks, you're $5600 down so it's better to take it down to $600 per week and get it rented in two weeks." He said things were worse than they appeared for some parts of the market. "Plenty of people are slowly going backwards and hiding their heads in the sand." Lloyd said a number of properties were staying on the market longer before they were tenanted. "We're definitely seeing properties sitting on Trade Me Property a lot longer than what we've seen over the last two to three years." But Nelson/Tasman's median weekly rent reached a record high of $600 in March. Otago's lifted 5%.
