Good news for potential property sellers
The New Zealand property market is booming, with record national average asking prices in Auckland, Coromandel, Hawkes Bay and Otago regions reported in February 2016.
Deciding to sell your house is a major decision – but with the right information and advice, it can be a profitable and enjoyable experience.
No matter what is going on in the property market, when you’re trying to decide if it’s the right time to sell your property, you need all the information you can get. Download our free eBook ‘How to get ready to sell your house’ to make sure you’re totally clued up. This handy eBook has plenty of links and tools to make sure you’re on the right track (financially and otherwise) to selling your home.
How to get back on the property ladder
If you want to get back on the property ladder, it’s important to consider the property market and its trends and fluctuations. Aucklanders: if you’re thinking about selling now, you’ll be happy to hear the average asking price is close to returning to a record high of $866,080 (up $101,656 since February last year).
Brendon Skipper, Chief Executive of Realestate.co.nz says,
“The national average returned to near record high levels in February, with three other regions in addition to Auckland also experiencing record highs: Otago, Hawke’s Bay and Coromandel."
“The national average asking price in February was $565,861, which is marginally below the previous record of $568,215 set in August last year. While these average asking prices reflect continuing vendor confidence, they do need to be seen against a background of relatively low inventory.”
What's the Inventory at the moment?
Inventory is a measure how long it would take to sell current stock at the current average rates of sale, if no new properties were to be listed for sale during this period. National inventory levels are on the rise, which means that there is a longer period of time between houses being listed for sale.
This means that while your home might take a bit longer to sell, a positive increase in New Zealand’s national average asking price means that when your house does sell, you’ll get a better price for it.
Regardless of where you live, you can prepare for the journey ahead by downloading our ‘How to get ready to sell your house’ ebook. It’s full of tools, links and exercises to help you demystify the jargon and ensure you’re on the right path.