Press Release – Trade Me Property
The property market is starting to show signs of reviving as we head into spring, with month-on-month increases slow but steady, according to Trade Mes Property Price Index for September. The national average asking price for a property was up …
The property market is starting to show signs of reviving as we head into spring, with month-on-month increases slow but steady, according to Trade Me’s Property Price Index for September.
The national average asking price for a property was up 0.4 per cent in September when compared with August, following an identical 0.4 per cent increase in August, sitting at $840,050.
“Aotearoa’s property market has started to show signs of bouncing back as we start moving into the warmer months. While prices have certainly dropped since the peak highs seen in 2021, they now seem to be levelling out,” said Trade Me Property Sales Director Gavin Lloyd.
“Buyers looking to take advantage of the market might find the time is now as we head into the summer months, where we tend to see an increase in demand.
“If we compare with September last year, the national average asking price is still down by 6.2 per cent. However, based on the trajectory we are seeing the market move, I would say cashed-up buyers are in a great position to make the most of these market conditions before prices really head north.”
Wellington seeing a rebound
Prices in Wellington city are beginning to heat up once more, with the average asking price up 1.4 per cent on last year to $894,900 in September.
“Wellington saw some of the biggest price increases at the peak of the market, so it makes sense that after a bit of a correction the prices are also heading back