The latest New Zealand Property Report is published by Realestate.co.nz provides insight into the state of the New Zealand property market as measured by the supply side of the property market.
Excerpt—“The message coming from the property market is that buyers are still out and about and keen to find a home. However, their eagerness to buy is not being met with a consistent and sufficient supply of new listings. This scenario continues to drive this sellers’ market, and homeowners who are putting their property on the market are expecting to see a higher sale price, as flagged by the new record asking price seen in May.
Seller confidence has pushed up the (seasonally adjusted) truncated mean asking price to a new high of $454,795. This rise in asking price was noticeable in over half of New Zealand, with Auckland reaching a new record high of $631,656, and Central Lakes Otago reaching a new high of $707,510.”
