PHOTO: REINZ Chief Executive Jen Baird. REINZ
The Real Estate Institute of New Zealand’s (REINZ) December 2023 figures show a notable increase in sales activity, median prices lifting, lower days to sell, and a clear sense of more confidence overall (year-on-year).
Year-on-year, median prices remained steady, with the national median sale price decreasing by 0.7% year-on-year to $779,830. There was no change (0.0%) in the median price for New Zealand excluding Auckland both year-on-year and month-on-month, with the price remaining at $700,000.
REINZ Chief Executive Jen Baird says December showed that the trend of steady improvement in property market activity has set in, thanks to interest rates stabilising, the new Government announcing more details of its plans, and the arrival of the more active months in the property cycle.
“The December figures showed a boost in activity in the market compared to a year earlier. We’ve been observing slow and steady improvement recently and we round out 2023 with continued improvement in sales activity in the market,” says Baird…Read more
SPECIAL OFFER: Looking to advertise online but finding the ‘BIG BOYS” too expensive?
The full data sets are available by clicking the links below:
CLICK HERE for the December press release
CLICK HERE for the full property report
CLICK HERE to view other reports on our website
The number one advantage between REINZ data and other housing data on the market is that REINZ has access to sales data from the time the price is locked in (unconditional data) as opposed to when the house changes hands (settlement date) which can often be weeks or months later. Therefore, REINZ data is the best and most timely measure of recent housing market activity.
Should you have any queries regarding this information, please don’t hesitate to contact the REINZ membership team at 0800 473 469.
