PHOTO: Property expert Vanessa Taylor says it’s partly due to an influx of Kiwi ex-pats moving home. Source: Breakfast
A housing shortage in New Zealand is driving prices up across the country according to new data released today in the realestate.co.nz July Property Report.
The data shows that nationally, the total number of homes available for sale in July was down 11 per cent on the same month in 2019 while the national average asking price increased by 3.9 per cent to $756,250.
Asking prices were also up in nearly all regions last month with 13-year all-time asking price highs in Northland, Auckland, Hawke’s Bay, Coromandel, and Manawatu/Whanganui.
Vanessa Taylor, of realestate.co.nz, told TVNZ 1’s Breakfast there “genuinely is a shortage of homes” in New Zealand, and that’s partly due to Kiwi expats moving home.
“There are Kiwis in the likes of the UK and the US that are thinking hey maybe it is time to come back to our little safe haven that we have here in New Zealand and that’s certainly increasing the demand.
READ MORE VIA TVNZ
