FINWIRES · TerminalLIVE
FINWIRES

New Zealand's Average Asking Price for Property Remained Nearly Flat in May, realestate.co.nz Says

By

The national average asking price for property in New Zealand remained nearly flat in May, down just 0.2% year over year to NZ$862,518, realestate.co.nz said in a Wednesday report.

The Central Otago/Lakes District set a new 18-year average asking price record of NZ$1.7 million, an over 20% increase from May 2025.

The surge in prices was driven primarily by the Queenstown and Wanaka districts, where average asking prices reached NZ$2 million and NZ$1.7 million, respectively, in May.

"Lifestyle, landscape, and liveability have become serious price drivers," realestate.co.nz spokesperson Vanessa Williams noted.

Taranaki recorded the greatest decline in the average asking price, dropping 9.7% year over year to NZ$678,359.

New Zealand saw 9,521 new listings nationally in the month, a 0.3% annual increase and the highest level for May since 2018, while stock levels rose 5% to 36,130 from 34,415 in May 2025.

Coromandel saw a more than 48% annual increase in new listings, while Wairarapa saw new listings fall past 11% over the same period, per the report.

Related Articles

Asia

AcroMeta's Subscription Deal Collapses as Investor Fails Payment; Shares Up 6%

AcroMeta's (SGX:43F) deal to raise SG$1 million through the subscription of 16.7 million shares with a subscriber named Elisabet, collapsed after the investor failed to make the payment by the deadline, according to a Tuesday bourse filing.Shares of the engineering services company were up nearly 6% in Wednesday trading.The subscriber was expected to remit the amount by May 31. The company is now seeking legal advice over the matter following the breach of the agreement.

$SGX:43F
Asia

GrainCorp's Through-The-Cycle Earnings Power Under Doubt Even as Fiscal 2027 EBITDA Estimate Unchanged, Jarden Says

GrainCorp's (ASX:GNC) fiscal 2027 earnings before interest, taxes, depreciation, and amortization (EBITDA) estimate was almost unchanged at around AU$217 million, but there is more skepticism than consensus on the firm's through-the-cycle earnings power, with the fiscal 2028 EBITDA estimate 16% and net profit after tax estimate 39% below consensus, Jarden said in a note on Tuesday.The Australian Bureau of Agricultural and Resource Economics and Sciences' (ABARES) first fiscal 2027 crop estimate east coast winter crop of 23.8 million metric tons is in line with expectations and consistent with an average crop size. If the El Niño phenomenon develops over June and July, creating soft levels of rainfall, then for fiscal 2027 there are downside risks to ABARES' forecast.The canola crop forecast is relevant for GrainCorp's nutrition and energy segment, with Jarden estimating it to account for 48% of the fiscal 2027 EBITDA estimate. ABARES' fiscal 2027 east coast canola crop estimate of 2.2 million metric tons is well below the fiscal 2021 to fiscal 2026 period but is impacted by a weak New South Wales forecast.The investment firm retained its neutral rating and AU$5.40 price target on GrainCorp.GrainCorp's shares gained about 2% in recent Wednesday trade.

$ASX:GNC
Asia

Sichuan Road & Bridge Exits Private Equity Fund with Early Lump-Sum Payout

Sichuan Road & Bridge (SHA:600039) subsidiary Road & Bridge Group exited a 111.2-million-yuan private equity fund investment tied to a highway project in Guangxi, China.The fund shares were transferred to Guangxi Jiaosheng, with proceeds collected early as a lump sum of 98.3 million yuan, according to a Tuesday filing with the Shanghai bourse.Shares of the construction company were down 3% in recent trade.

$SHA:600039