Asking prices for property are up while one real estate agency reports the market is becoming more difficult for vendors to make a sale.
The average property asking price rose 2.9 per cent in October to a record high of $618,000, according to Trade Me's property data released today.
Auckland'saverage asking price also rose - to a new high of $897,300, as did the average asking prices in the Bay of Plenty, Canterbury, Marlborough, Nelson, Waikato and Wellington.
Trade Me property head Nigel Jeffries said the market had "spluttered back to life".
"The last 30 days has seen over $17,000 added to the average asking price of property for sale in New Zealand. It's been a familiar story recently, with new price records being broken almost every month and over $46,000 added to sellers' expectations over the last year," Jeffries said.
Data showed sellers in Auckland sent average asking prices to $897,300 in the three months to October. In the last year the average asking price of a property in Auckland has risen by $104,850 - 13.2 per cent.
"The unrelenting march of the Auckland property market over the last five years has seen average asking prices for a typical Auckland property explode from $515,600 in October 2011 to today's record peak of $897,300.
"That's more than $380,000 extra that buyers are being asked to cough up."
