PHOTO: SOLD
In October, the median number of days to sell a property nationally decreased 5 days from 34 to 29 when compared to October 2019, the lowest for the month of October in 17 years.
For New Zealand excluding Auckland, the median days to sell decreased by 3 days from 32 to 29, the lowest for the month of October in 17 years.
Auckland saw the median number of days to sell a property decrease by 6 days from 36 to 30 year-on-year, the lowest for 51 months.
Taranaki had the lowest days to sell of all regions at 21 days – down 5 days from the same time last year and down 3 days from September. This was the lowest days to sell for Taranaki for an October month since records began.
Manawatu/Wanganui and Marlborough had the second lowest median days to sell in October at 24 days each.
Northland had the highest days to sell for the country at 39 days, down 21 days on last year’s figure, and the lowest days to sell for an October month in 13 years.
“This is the first time since records began that we haven’t had a single region with a median number of days to sell a property over 40 days showing how quickly people are moving to secure a property they like in the current market. As important as it is to be ready to move quickly, it’s important that people take time to do their homework before rushing in to purchase a property,” cautions Norwell.
SOURCE: REINZ
