House prices might be flattening: Trade Me

Trade Me is hinting that the property market may have peaked

PETER MEECHAM/FAIRFAX NZ.

Trade Me is hinting that the property market may have peaked

Average asking prices for houses remained virtually static on the Trade Me website last month, raising suggestions that the market was easing.

Nationally, prices averaged out at $591,100, a new high but up just $250 on the previous month.

Head of Trade Me Property Nigel Jeffries said vendors appeared to take their “foot off the gas” in June and in July it had failed to accelerate.

“The average asking price is up 10 per cent on last July, and since March this year it has only risen by $18,000. It will be interesting to see whether this slow-down is a pattern through to the end of the year.”

more to come


 – Stuff


First published at: August 11, 2016 at 02:54AM.
Syndicated from:
http://www.stuff.co.nz/business/money/83054369/House-prices-might-be-flattening-Trade-Me