Auckland property bucks trend

The Auckland real estate market held up in a softening July property scene.

The country's biggest market remains a steady performer compared with pretty quiet conditions in the rest of the country, Realestate.co.nz chief executive Alistair Helm said yesterday.

The listing website's latest report shows the average nationwide asking price last month was $400,481, compared to $410,058 in June and $422,648 in March.

Auckland bucked the trend with an average asking price of $511,949 last month, up slightly from $510,847 in June.

Overall, the asking price for property is at its lowest in a year as the market remains weighted in favour of buyers. The number of unsold houses is also on the rise.

Nationwide, the number of new property listings last month was 10,586, down from 11,106 in June.

To read the full NZ Herald article, click here

Posted: 2 Aug 2010

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