Whanganui-Manawatū fares better than many regions as real estate market takes winter dip

Whanganui-Manawatū fared a little better than some regions as the property market quietened during June. Photo / Stuart Munro

Despite a seasonal drop in the property market, the Whanganui-Manawatū region performed a little better than New Zealand overall in new property listings in June.

Statistics from property website realestate.co.nz show new property listings fell in 15 of the 19 regions in June, a 9.9 per cent drop compared to June last year. Whanganui-Manawatū recorded a decrease of 21.9 per cent against the national average decrease of 25.8 per cent.

New listings fell in every region in the North Island apart from Wellington, which recorded a 5.5 per cent increase (574 listings) compared with June 2017. Nationally, there were a total of 8136 new property listings.

"Typically, in winter we hibernate and this June was no exception with cold weather felt across the country," realestate.co.nz spokesperson Vanessa Taylor said.

"The reality is that people want to sell their property when they feel that it's looking its best and potential buyers are more likely to go out to open homes."

In Whanganui-Manawatū region, the average asking price increased 1.9 per cent year on year against a national average of -0.3 per cent.

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