Housing

NZ’s new average asking price of $703k

The national asking price for houses has surpassed $700,000 for the first time since Realestate.co.nz's records began 13 years ago.

Its figures for December 2019 show the national average asking price hit $703,780 - a 3.4 percent increase from November.

There are also record lows in new listings and total homes available for sale.

Realestate.co.nz spokesperson Vanessa Taylor said it was the first time since records began in 2007 that there were three national records in the same month.

"There have been years where we have seen a combination of two, but never all three.

"Low stock, teamed with high asking prices sees us close out the decade as a strong sellers' market," she said.

But what exactly will $703,000 get you differs around the country.

In Auckland, where the average asking price is $940,761, you could get a two-bedroom apartment in Mount Wellington, with joint facilities such as swimming pool, gymnasium, sauna and tennis court.

In Manukau, you could get a fully renovated three bedroom home.

In Northland asking prices decreased by 4.5 percent to $619,775 and for $685,000 you could get 4.9 hectare property and four bedroom, two bathroom home near Whangārei.

In the Wellington region, where the average asking price is $706, 000, you could get a two-bedroom apartment in Roseneath.

Or if you want to live in Upper Hutt you could get a three-bedroom newly built home, with two bathrooms with underfloor heating.

Further south in Canterbury the average asking price is a more affordable at $508,153.

A three bedroom house with a swimming pool in Burnside, Christchurch will set you back $695,000.

For the real bargain hunter, moving to Southland where the average asking price is $374,636, in Invercargill you could get a five bedroom, two bathroom house, sitting on 2.2 hectares for $685,000.

This article was originally published on RNZ and re-published with permission.

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