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Asking prices for Wellington homes up by .2 per cent

Press Release – Trademe
The average asking price for Wellington homes rose 0.2 per cent in June to $581,500.

“There are plenty of buyers actively looking at properties in the capital; evidenced by a 15 per cent increase in the number of properties being watchlisted compared to last year,” said Head of Trade Me Property Nigel Jeffries.

The most popular property on Trade Me in July was a one-bedroom apartment in Wellington central which received 158 enquiries in July.

“The Wellington property market is showing no sign of slowing down, even at this time of year when we expect prices to dip. The coming six months will be an interesting time for the capital and we could see average asking prices crack $600,000 for the first time,” Mr Jeffries said.

As temperatures dropped in July, so did the national average asking price, falling 1.4 per cent on June to $632,800 and driven by a 1.8 per cent dip in the Auckland region.

In Auckland, the average asking price for large (5+ bedrooms), medium (3-4 bedrooms) and small houses (1-2 bedrooms) took a hit in July, falling 3.2 per cent, 1.9 per cent and 4.5 per cent respectively.

Across the rest of New Zealand, large houses were up 7.7 per cent on last year, medium houses grew 4.7 per cent and small houses were up a solid 6.8 per cent.

Townhouses in Wellington and Christchurch reached record average asking prices in July, with Christchurch up a solid 6.8 per cent on last year to $467,600 and Wellington up 17.7 per cent to reach $536,050.

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