NZ property prices on hold – but not in Wellington (up 10% in a year)

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Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.


Press Release – Trade Me Property
As the country holds out for an election outcome, so too is the New Zealand property market with the national average asking price in a holding pattern, according to the latest Trade Me Property Price Index.

Head of Trade Me Property Nigel Jeffries said the average asking price for a typical Kiwi house has stalled for a second month, up a minuscule 1.1 per cent year-on-year in September and down 1 per cent on August to $607,400. But property in Wellington is bucking the trend with the average asking price up 10 per cent on last year, so buyers can expect to pay an extra $48,550.

Demand in Wellington is up 5 per cent on last year, with buyers now being asked to pay an average of $528,200 for a typical property as growing interest puts pressure on prices.

“The Wellington property market has stood strong over the last five years, climbing over 31 per cent and earning homeowners a hefty $127,000 since September 2012,” he added…..


Continue reading this article at the original source from Scoop Wellington





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