Property prices hit all-time highs in regions as new listings drop

Property prices hit all-time highs in regions as new listings drop

Latest property figures show Auckland isn't the only place with a shortage of houses for sale.

Coromandel, Nelson, Canterbury, Bay of Plenty and Waikato all experienced a drop in supply for August, according to realeastate.co.nz.

It's seen asking prices reach all-time highs in some regions. In a single month, asking prices rose:

Auckland's average asking price was just over $900,000, up 1 percent.

The biggest rise came in Central Otago/Lakes, asking prices up 10.3 percent to $750,582.

Property asking prices in August 2016 (supplied; click for larger version)

Some regions saw prices fall. Southland's the cheapest place to buy, with prices dropping 1.3 percent to $246,822.

The biggest fall however was in Marlborough, with asking prices down 14.9 percent to $428,799.

The average asking price nationwide is $593,023, up more than 40 percent in four years.

Newshub.

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