Whanganui houses selling for far more than last spring

Whanganui property prices have risen hugely since this time last year. Photo/File

Property prices in Whanganui are significantly higher than last year, despite slow growth in the main centres.

The average asking price for a house was $258,600 last month and $153,500 for a unit, according to new Trade Me data.

Prices in the wider region were up 16.6 per cent from September last year, and in Whanganui more than 10 per cent.

Property Brokers' branch manager Philip Kubiak said prices were "firm and holding".

"We've got a lot of buyer activity," he added.

Asking prices throughout New Zealand rose by an average of just 1.1 per cent in the past year and down 1 per cent from August.

Actual sale prices were also up significantly, according to sales data from REINZ.

The median sale price for all properties in September was $199,500, up 12.3 per cent since the same month in 2016.

This was slightly lower than the median of $205,000 in August, less than the average fall of 4.9 per cent across the wider region.

"Following the record high in the Manawatu/Wanganui region last month, the median price of homes has eased slightly in the region this month," REINZ chief executive Bindi Norwell said.

The average number of days to sell dropped to 29.

Sales volumes were down significantly, with just 71 properties sold in Whanganui compared with last September's 95.

But Mr Kubiak said listings, if not actual sales, were up in September.

"September was Property Brokers' best listing month for about 12 months."

Trade Me's head of property, Nigel Jeffries, said the number of listings across the country was lower than usual in September.

"We expect to see the number of properties for sale pick up once Winston makes his decision and the uncertainty around the election has passed.

"Homeowners will have a better feel for how the Government could affect their investment."

Ruapehu district was one of the few areas where the number of sales was higher than September last year and sale prices were higher than in August.

Sale prices rose by 50 per cent in the past year, according to the REINZ data, to a median of $192,000. In August, the median price was $185,000.

In Rangitikei, median property prices rose by just over 30 per cent in just one year, to $225,000.

The highest year-on-year growth in asking prices was in Hawke's Bay at 20.4 per cent, followed by Manawatu/Whanganui.

Canterbury and Auckland had the smallest yearly growth in property asking prices - 0.2 and 2.5 per cent. Asking prices in Wellington, however, rose by 5 per cent.

The average asking price for property in New Zealand fell 1 per cent from August to September, to $607,400.

Average asking prices in Whanganui

Large house $516,650
Medium-sized house $257,300
Small house $185,400
Townhouse $209,400
Unit $153,550