Housing market has some spring in its step but still subdued

Auctions and inventory have both increased on this time last year.

Thu, 14 Nov 2024

Property sales jumped year-on-year in October but house price index data pointed to a still-subdued market. Real Estate Institute of NZ (Reinz) data showed sales rose 20% nationally compared with October 2023. However, the house price index (HPI) fell 1.1% versus October 2023 but lifted 0.5% on September. The index, which adjusts for a different mix of properties, remains 15.4% below its 2021 peak,Reinz said Westpac senior economist Darren Gibbs said the sales data flatters the market somewhat.“The sales in Octob...

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