Recent stuff article:
Auckland house prices recovered a little, but home buyers in Wellington continue to pay record prices - and the region's property market shows no signs of slowing, says Trade Me.
In September, the country's average asking price was up 6.2 per cent on a year ago, to $645,250. In Wellington, the price rose 12.3 per cent over the year to $593,250, according to the Trade Me Property Price Index.
"In September 2016, the average asking price was $479,650 which means property prices in the capital have increased almost $115,000 (or 24 per cent) in 24 months," said Head of Trade Me Property Nigel Jeffries.
In the Wellington region, Masterton had the biggest annual rise - up 20 per cent to $408,850. Prices rose 15.5 per cent in Upper Hutt to $538,500, were up 10.4 per cent in Lower Hutt at $559,300, and rose 8.5 per cent in central Wellington to $700,400.
The country's average asking price for apartments, townhouses and units was up 4.9 per cent year-on-year to $548,000.
"We're continuing to see more Kiwis downsize their home and first home buyers move into these urban properties, attracted by smaller mortgage repayments and less maintenance costs. Apartments are still the hot favourite with a 7.2 per cent increase in average asking price nationwide."
Our City is still very popular - our recent campaigns have highlighted the homes in good condition and desirable locality are enjoying high demand and multi offers. The one shift which is prevailing is due - diligence. Buyers are really doing their homework and taking less risks when it comes to unknowns.
If you are considering completing work on your home before coming to the market it may be worth your while but speak to our team, we can give you honest and factual advice.
Enjoying a combined 33 years real estate experience plus a qualified Property Valuer we are committed to ensuring the most optimal result for our owners.
- NOVEMBER 2018