Home buyers are turning their attention to Hawkes Bay, Otago, Gisborne, Manawatu-Wanganui as demand in Auckland falls.
• The latest property data reveals property values rise nationwide except in Auckland, Hamilton & Christchurch, buyer demand continues to fall in Auckland while apartment prices hit a new record high.
• The avg. value nationwide is now $631,349, up 13.5% in a year & 1.1% in 3 months, but values in parts of Auckland dropped by 0.7% in 3 months, down from $1,047,699 to $1,043,680.
• Though its value remained above the million dollar mark, Auckland is experiencing a double digit fall in demand (10.8%), as is Wellington (18.8%).
• Meanwhile, Auckland apartment prices have hit a new record high, as figures show that the avg. asking price for an Auckland apartment hit $711,892 in February, though it’s still more obtainable than a house in the city.
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