The latest statistics from the Real Estate Institute of New Zealand have been released for February, showing an increase in market activity across the country. Jenn Baird, REINZ CEO commented that the latest data ‘paints a picture of a more active housing market, characterised by increasing listings, robust sales activity, expanding stock levels, and growth in property prices.’
The influx of new listings to the market has been a point of much discussion over the past month, with realestate.co.nz reporting that new stock on their website was up over 40% from February last year, in the Bay of Plenty alone.
Over in the Waikato, the number of sales has increased 28% year-on-year, with the days to sell now sitting at 56, 10 days less than the same period last year.
In Whangarei, the median sale price for February was recorded at $760,000, an 8.4% increase on the same period last year.
For more information on the market activity in your area, view our Market Update reports below:
Download the Bay of Plenty Market Update - February 2024
Download the Waikato Market Update - February 2024
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