New Zealand’s residential property market is showing signs of being strong throughout the upcoming spring season. It is predicted to be a stronger season than in recent years, according to the latest report from NZ Property.

The average asking price for new listings also rose significantly; from $403,474 in July to $415,0784 in August. This is an increase of around 2.7% during a month, indicating that there is more confidence amongst sellers of higher priced houses.

The report states; “There is a seasonal trend that sees asking price rise in the August month each year, this year that seasonal rise is somewhat more significant.’ There was also a rise in the number of new properties joining the market, the first time since March. There were over 10,000 new property listings, a 3% increase year-on-year.

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