A buyers market HITS with a MASSIVE 23.9% stock surplus | REINZ REPORT - Property News AU/NZ | propertynoise.co.nz & propertynoise.com.au

PHOTO: REINZ March, 2024 Market Report

Today, the Real Estate Institute of New Zealand (REINZ) unveiled their March 2024 findings, revealing a notable surge in property listings and stock volumes, presenting a wider array of options for prospective buyers.

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According to REINZ Chief Executive Jen Baird, the market exhibits heightened activity compared to the previous year, characterized by an upswing in listing numbers, augmented stock levels, increased sales figures, and elevated median sale prices. Baird stated, “Listings have experienced a significant uptick nationally, rising by 23.9% compared to March 2023, underscoring a trend observed since the onset of 2024, with a greater influx of properties entering the market.

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Moreover, New Zealand’s stock levels have registered a year-on-year boost, translating to a surplus of properties available for sale and expanded choices for buyers.”