The latest statistics from The Real Estate Institute of New Zealand (REINZ) have been released, showing a national increase in the amount of properties sold by 16% year-on-year (excluding Auckland).
Jen Baird, REINZ CEO, commented "Listings increased by 10.4% nationally and 5.4% for New Zealand, excluding Auckland, year-on-year. Despite this wave of listings favouring buyers, the challenges of last year, including the cost of living, inflation, interest rate changes, and government reforms, mean some buyers remain cautious.
However, most regions are reporting more buyer activity across the board, with some seeing a particular surge in first-home buyer interest. Vendors are also being confident but realistic with prices as activity increases over the summer months. This is likely to resolve in inventory moving over the coming more active months in the year, “adds Baird.
For more information on the market activity in your area, check out the latest Market Update reports below:
Download the Bay of Plenty Market Update - January 2024
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