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New Zealand National Average Asking Price Remains Flat in July

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The national average asking price in New Zealand remained flat at NZ$866,945 in July, up 1% on last year's NZ$858,371, according to a report by realestate.co.nz released Friday.

Central Otago Lakes District recorded the highest year-on-year increase in average asking price at 6.7% to NZ$1.5 million, while Central North Island saw the greatest year-on-year decline of negative 8.7% to NZ$722,699.

Data from the Real Estate Institute of New Zealand showed residential sales grew year on year in four of the first six months of the year, suggesting that buyers continue to remain active amid economic uncertainty, the report said.

Meanwhile, national stock levels increased 9.3% year on year to 33,252 properties in July, with nine regions experiencing double-digit growth.

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