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House prices up and down

Just-released housing data from Realestate.co.nz show that all three districts in Wairarapa had lower average asking prices in March, compared to the same time last year.

Although the March average asking price in all three districts enjoyed an increase over February this year, they were still lagging behind March 2023 figures.

Masterton district still has the lowest average asking prices in Wairarapa, sitting at $683,446 in March.

This was an increase of 2.3 per cent over February’s average asking price of $668,398 but 6.9 per cent lower than in March 2023, when it was $734,315.

New Masterton listings for March 2024 sat at 70, a 4.1 per cent drop from the 73 recorded for February, although the district experienced a year-on-year jump in new listings of 112 per cent compared to the 33 recorded in March 2023.

In Carterton district, the average asking price for March 2024 sat at $739,211, an increase of 4.1 per cent from February.

However, this was still well under the March 2023 average asking price of $785,333, representing a 5.9 per cent year-on-year fall.

Last month, there were 23 new listings in Carterton, up from 22 in March 2023 and 20 from February – a 4.5 per cent rise and a 15.0 per cent rise, respectively.

South Wairarapa continues to be the Wairarapa district with the highest average asking price, sitting at $982,853 in March.

This was 1.5 per cent up on February’s average asking price [the lowest month-on-month rise for the three districts] but 7.2 per cent down on March 2023’s average asking price of $1,059,444.

There were 42 new listings in South Wairarapa in March, down 25 per cent from the 56 recorded the month prior, although this represents a rise of 27.3 per cent from the 33 recorded in March last year.

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