Real estate Institute of New Zealand

The real estate Institute of New Zealand is reporting that home sales fell -4% year on year. However the adjusted median home price was

  • +1.1% in October and
  • +7.6% year on year.
  • The medium house price year on year rose from NZ$561,500 to NZ$607,500

The decline in volume year on year was due to a number of people aiming to sell their homes before the foreign buyer ban came into effect at the end of October 2018. As a result the numbers a year ago were skewed to the upside.

According to Bindi Norwell of the REINZ, there were 7800 fewer listings for the 1st 10 months of 2019.

For the full report CLICK HERE