Average asking prices for Auckland homes for sale hit a new record high in February, as sellers responded confidently to continued strong buyer demand for the limited number of properties available.
The record high average asking price of $677,370 was revealed today in the NZ Property Report, a monthly report of housing market activity compiled by realestate.co.nz.
Asking prices in Auckland have risen by 12 percent in the last 12 months.
Paul McKenzie, National Marketing Manager for realestate.co.nz, says the new high is part of a continuing growth pattern.
"Asking prices are trending upwards and look set to remain high into the spring season.
"While this high level of buyer interest is underpinning seller confidence, buyers will be disappointed with the higher average asking prices and relatively low levels of new listings," McKenzie said.
February saw Auckland reported 4,098 new listings, down 5 percent from February 2013.
"The number of homes available for sale eased to 26 weeks of stock, well below the long-term average of 37 weeks, which is another indication that the market is in the seller's court."