3 Feb 2014

House prices up again

7:49 pm on 3 February 2014

The average asking price for houses rose across the country last month.

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The Real Estate Institute's website, which accounts for about 95 percent of listings, has reported that the seasonally adjusted asking price of new listings rose nearly 6 percent in January, compared with December, at nearly $477,000.

Two regions experienced record high asking prices - Canterbury and Otago.

In Canterbury the average asking price reached $449,000, which was up 11.5 percent compared with January last year.

In Otago, the average price rose nearly 2 percent to nearly $305,000. The number of new listings coming onto the market also rose 16 percent month-on-month to more than 9000 new properties on the market.