{"id":586523,"date":"2026-09-01T04:02:11","date_gmt":"2026-09-01T04:02:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/586523\/"},"modified":"2026-09-01T04:02:11","modified_gmt":"2026-09-01T04:02:11","slug":"housing-market-ends-winter-on-a-soggy-note","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/586523\/","title":{"rendered":"Housing market ends winter on a soggy note"},"content":{"rendered":"

The housing market could be heading for a soggy start to spring, with stock levels high, new listings low and asking prices in decline.<\/p>\n

Property website Realestate.co.nz ended August with 32,908 residential properties available for sale, 9.7% higher than at the end of August last year. That means stock available for sale on the website is at a 12-year high for the time of year, and has more than doubled since the boom year of 2021.<\/p>\n

The high stock levels are particularly significant because just 8326 new listings were received in August, down 5.1% compared to August last year. That suggests many of the properties currently on the market are older stock which is proving difficult to sell.<\/p>\n

The build up in stock has occurred in spite of declining asking prices. Realestate.co.nz’s national average asking price was $824,144 in August (non-seasonally adjusted), down 2.0% compared to August last year.<\/p>\n

The average asking price on the website has now declined for six consecutive months and is down $74,533 (-8.3%) since February.<\/p>\n

In Auckland, the country’s largest property market, the average asking price was $986,827 in August, down $110,921 (-10.1%) since February.<\/p>\n

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