First sign of Auckland property slowdown?

Trade Me says its property listings may be showing the first signs of a possible slowdown in the Auckland property market.

Auckland homeowners were asking $756,700 on average for the property, which was a 2.2 per cent decline over the three months to July when compared with the same period to June. However, asking prices were still 18 per cent higher on an annual basis, and had grown by over $50,000 a year since 2010.

Head of Trade Me Property Nigel Jeffries said the dip could foreshadow a market correction, but ‘‘might be a mid-winter speed bump’’. ‘‘Historically, we see a dampening in expected sale prices in winter, as sellers wait for warmer months to list their properties. We’ll be watching the coming months with interest.’’

In contrast, asking prices for houses in the rest of the country increased by 2.5 per cent when compared to the three months to June.

Price expectations outside Auckland were up 5.5 per cent to $414,800 on a year ago, a ‘‘surprising and noticeable lift’’, Jeffries said.

Compared to a year ago, the regions with the biggest rises in asking price were Auckland, Bay of Plenty (12 per cent), Southland (11.6 per cent) and Canterbury (10.7 per cent to $462,100). They were followed closely by Manawatu-Wanganui (9.8 per cent), Taranaki (9.7 per cent) and Hawkes Bay (8.6 per cent). Those that eased were Nelson-Tasman, Wellington and Marlborough.