Year-on-year price growth still strong

The Waikato has seen stellar year-on-year price growth

Average asking prices have stalled nationwide and in the main centres, according to the July instalment of Trade Me Property’s price index.

The national average asking price came in at $631,350, which is down on $632,850 in June and 2.1% lower than the peak of $644,000 in April.

Auckland’s average asking price rose by just 0.1% to $912,000 in June, while Wellington has seen a 4% drop in average asking price since April this year to leave it at $522,550.

Head of Trade Me Property Nigel Jeffries put the cooler market down to the impact of the LVRs along with uncertainty caused by the looming election.