10 Jan 2020

What you can get for NZ's new average asking price of $703k

10:38 am on 10 January 2020

The national asking price for houses has surpassed $700,000 for the first time since Realestate.co.nz's records began 13 years ago.

Sold sign outside a house in East Auckland

Realestate.co.nz's figures for December 2019 show the national average asking price hit $703,780. Photo: RNZ / Claire Eastham-Farrelly

Its figures for December 2019 show the national average asking price hit $703,780 - a 3.4 percent increase from November.

There are also record lows in new listings and total homes available for sale.

Realestate.co.nz spokesperson Vanessa Taylor said it was the first time since records began in 2007 that there were three national records in the same month.

"There have been years where we have seen a combination of two, but never all three.

"Low stock, teamed with high asking prices sees us close out the decade as a strong sellers' market," she said.

What you can get for the average asking price

But what exactly will $703,000 get you differs around the country.

In Auckland, where the average asking price is $940,761, you could get a two-bedroom apartment in Mount Wellington, with joint facilities such as swimming pool, gymnasium, sauna and tennis court.

An apartment in Wellington that's for sale on TradeMe.

The apartment in Mount Wellington. Photo: TradeMe

Inside the two-bedroom apartment.

Inside the two-bedroom apartment. Photo: TradeMe

In Manukau, you could get a fully renovated three bedroom home.

The three-bedroom home has an asking price of $699,000.

The three-bedroom home has an asking price of $699,000. Photo: TradeMe

The home in Manukau is fully-renovated.

The home in Manukau is fully-renovated. Photo: TradeMe

In Northland asking prices decreased by 4.5 percent to $619,775 and for $685,000 you could get 4.9 hectare property and four bedroom, two bathroom home near Whangārei.

The home in Whangārei comes with about about five hectares of land.

The home in Whangārei comes with about about five hectares of land. Photo: TradeMe

In the Wellington region, where the average asking price is $706, 000, you could get a two-bedroom apartment in Roseneath.

The two-bedroom apartment.

The two-bedroom apartment. Photo: TradeMe

Or if you want to live in Upper Hutt you could get a three-bedroom newly built home, with two bathrooms with underfloor heating.

The house in Upper Hutt has three double bedrooms.

The house in Upper Hutt has three double bedrooms. Photo: TradeMe

Further south in Canterbury the average asking price is a more affordable at $508,153.

A three bedroom house with a swimming pool in Burnside, Christchurch will set you back $695,000.

This Christchurch house comes with a swimming pool.

This Christchurch house comes with a swimming pool. Photo: TradeMe

For the real bargain hunter, moving to Southland where the average asking price is $374,636, in Invercargill you could get a five bedroom, two bathroom house, sitting on 2.2 hectares for $685,000.

The asking price for this Invercargill home is $685,000.

The asking price for this Invercargill home is $685,000. Photo: TradeMe