Trade Me has mined its database to produce a new index offering a different perspective on residential property prices.
The online trading company launched its first monthly survey result yesterday, indicating home prices were steady in September, up just 0.1 percent from August.
The average asking price, across all property types and regions, was $487,650 in September - a year-on-year increase of 13 percent.
The new Index measures the asking prices for residential property listings, added to Trade Me Property by real estate agents and private sellers, over the past three months.
Trade Me property division head Nigel Jeffries said other property indexes don't focus on the asking price for property.