Although an interesting statistic, asking prices do not always translate into the end sale price. What it does show is that vendors are more confident than ever. Nevertheless it is likely that house prices will continue to gently rise rippling out from the main centres to the outer suburbs and eventually to all the smaller towns that haven’t as yet enjoyed much of the uplift in property prices.
Shortage of sale listings prompts vendors to seek record high prices for houses according to latest figures through Realestate.co.nz
May 1, 2013 – 10:14am, David Hargreaves
The average asking price of vendors for properties around New Zealand reached a new all time high in April on the back of an increasing shortage of houses available for sale.
According to data released today in the New Zealand Property Report – a monthly report of housing marked activity compiled by Realestate.co.nz – the national average asking price extended to NZ$447,275 (seasonally
adjusted truncated mean). The previous high, set in November last year was NZ$446, 277.
These asking prices compare with an actual median price of NZ$400,000 on sales in March as recorded by the Real Estate Institute.
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