Aucklanders taking jobs outside the city to escape house prices

The jobs market has become more competitive, according to Trade Me. Photo / iStock

More Aucklanders are looking outside the city for work as new figures show a record number of houses selling for more than $1million.

Peter Thompson, Barfoot & Thompson managing director, said nearly a third of all the 1358 homes sold in September - 428 - were sold for more than $1 million.

That's the highest number of $1 million-plus homes the real estate agency has sold in a month.

He said new records were also set for both the monthly median and average house sale price figures.

"The average sales price in September at $836,275 jumped 1.9 per cent in one month and the median sales price at $790,000 increased by 4.6 per cent, with both setting new price records."

Head of Trade Me Jobs Peter Osborne says over the past year there has been a noticeable lift in the number of Aucklanders looking outside the region for a new job.

"Thirteen per cent of applications sent by Auckland candidates were for roles located outside the Auckland region. That's up an impressive 47 per cent on the previous year, matching the increasing pressure on the cost of living in New Zealand's biggest city."

Heated competition among job applicants in a job market that "was cooling off" meant employers wouldn't have to stretch the budget as much to compete for candidates.

"As a result we expect that average salaries will show little, if any, growth over the coming quarter."

This lack of extra disposable income would do little to help those hoping to get their foot in the door of a housing market that's once again reached all-time highs.

He says 81 per cent more Aucklanders were applying for a job in the Waikato.

Canterbury saw a 45 per cent increase in applications from Auckland and the Bay of Plenty saw a 32 per cent increase.

The latest Trade Me analysis of more than 60,000 vacancies listed in the three months to September also showed a more competitive job market full of potential employees.

Mr Osborne says this could lead to little, if any growth, in the average salary.

"With fewer jobs and more applicants, employers won't have to stretch the budget as much to compete for candidates."

The number of new roles nationwide has risen 1.2 per cent when compared to the same period last year, whereas the average advertised salary fell 2.6 per cent.

The Bay of Plenty has shown the greatest growth in the job market up 22.6 per cent, followed by Auckland at 7.3 per cent, however the West Coast saw a 22.6 per cent drop, with the capital, Wellington, coming in second to last down 7.6 per cent.

Mr Osborne says the employment market had been hinting at a slowdown for several months.

"A number of economic indicators suggested the Kiwi job market was cooling off this year with employers not hiring as often, but new job listings remained strong on Trade Me Jobs in the face of a pessimistic outlook," he says. "Over the past three months things have started to quieten down."

The lowest paid jobs were au pairs, nannies, caregivers, kitchen staff, retail assistants and wait staff all earning below the $39,000 per annum mark.

The highest paid jobs were those in IT all earning above $115,000 annually.

While the housing market was seen as having cooled over winter, Mr Thompson said the Government changes coming into force on October 1 may have actually worked to push up prices in September.

"In part the price surge may be down to buyers getting in ahead of the new regulations around equity ratios for investors, which came into force in October, but without doubt an element of the traditional lift that comes with spring was there."

Whether September's prices have set a trend for the remainder of the year has yet to be seen.

New regulations for international buyers are due to come into force in November and these have coincided with a tightening of requirements around the export of money out of China.

In the last week of the month there was a fall in auction sales and there was less pressure on buyers to make immediate decisions.