3 Mar 2016

Average Auckland asking price up $101,656

2:18 pm on 3 March 2016

The price of a house in Auckland has hit an annual record.

Auckland housing. View from Mount Eden summit

Auckland from the Mount Eden summit Photo: RNZ / Diego Opatowski

Data from realestate.co.nz shows the average asking price in the country's biggest city jumped 13.3 percent, or $101,656, to $866,080 in the year to February.

The previous record was set in September last year.

Realestate.co.nz chief executive Brendon Skipper said lower inventory levels were likely to have helped boost the Auckland price growth.

"There was some inventory issues in December and January which would have helped drive that along," he said.

"February was a little bit more stabilised, but certainly the record high is in line with what we've been seeing for the last year."

On a national level, the average asking price was just below a previous peak and is at $565,861.

Otago, Hawke's Bay and Coromandel all notched up record prices last month.

The number of new listings picked up after a shortage of supply in December and January.

Today's data follows that of government valuer QV yesterday, which showed Auckland prices fell slightly on a month-by-month basis but remained elevated at high levels from a year ago.

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