Investors boost small home prices
The website said the average asking price of homes with one or two bedrooms had increased 1.4% over the past 12 months, to $397,450.
“Units are popular with investors – they’re cheaper than a lot of housing options but they’re still popular with renters and they sell well,” head of Trade Me Property Nigel Jeffries said. “We’ve seen a jump in every major city except Christchurch.”
Average asking prices for a unit in Auckland set a new record in June, up 17.5% to $589,000. Units in Auckland broke the $500,000 mark a year ago, and since then these properties have jumped $87,000.
The average asking price for a unit in Wellington is now $300,000, a jump of $48,000 in the past year. In the hot Bay of Plenty market, units reached a new record of $370,400 in June and up 27% year-on-year.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)