New zealand property asking prices soar in october

Asking prices for New Zealand residential properties hit an all-time high last month, says real estate listings website Realestate.co.nz.

In its monthly property report released today, the company says the average asking price for property available nationally hit $434,161 during the month, passing the previous high of $429,250 reached earlier this year in April.

But while price hopes are high, the number of new properties coming onto the market for sale are low - with new listings dropping a seasonally adjusted 11 per cent in October.

The Auckland region led the trend for prices, recording its highest average asking price - $568,778 - since Realestate.co.nz began tracking the market data in 2007.

Source: NZHerald.co.nz