Excerpt—“The property market continues to show signs of confidence and heightened activity as compared to the past few years. The confidence amongst sellers bringing their properties onto the market has pushed up the (seasonally adjusted) truncated mean asking price to a new high of $447,275 – the highest level since the collection of data began in 2007.
This rise in asking price was noticeable in around half of New Zealand, with Auckland reaching a new record high of $612,167, and Central Lakes Otago reaching a new high of $679,987.
The number of new listings fell to 10,023, down 21.5% on March and down 1.5% year on year. In the main centers, both Auckland and Canterbury experienced an increase in listings when compared to April last year of 9.3% and 0.8% respectively and Wellingtons figure fell by just 1.9%. The next 3 months are traditionally a quieter time for the market, with lower listings ahead of the spring pick up in August. If property sales continue strongly it is likely that asking prices will continue to creep up as demand for property continues to remain high.”