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

We strive to keep Wellington property owners up to date with the latest property information.

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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2017-10-26T16:45:37+00:00