“In fact, listings nationally are up 12.8% compared to a year ago.” The average asking price for homes in New Zealand increased by 5.5 % within a month and reached a record high of $ 568,215 , according to reports . Almost half of all New Zealand regions had record asking prices , including notoriously expensive Auckland and Wellington . Such highs are a typical sign of low inventory , claims property expert Brendon Smith , which is caused by accelerated property demand rather than a lack of supply ; in fact , national listings have risen by 12.8 % over the past year .
The average asking price for homes in New Zealand increased by 5.5 % within a month and reached a record high of $ 568,215 , according to reports . Almost half of all New Zealand regions had record asking prices , including notoriously expensive Auckland and Wellington . Such highs are a typical sign of low inventory , claims property expert Brendon Smith , which is caused by accelerated property demand rather than a lack of supply ; in fact , national listings have risen by 12.8 % over the past year .