Home listings down by a fifth, sales up 14.6%

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Thu, 13 Jul 2023

The number of residential sales jumped by an annual 14.6% last month to 5,629 properties, while the number of homes on the market dipped by 21.2% to 6,218 from 7,893 listings a year prior.That was while prices declined by an annual 9% year-on-year, reflecting annual value declines across every region except Queenstown-Lakes, which showed a 2.5% increase, according to the June Real Estate Institute of New Zealand (Reinz) house price index.Regionally, those falls were most pronounced in Wellington's Upper Hutt, which was down 16.2%...

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