House sales down a third, as buyers 'wait'

Auckland's pace of growth has slowed to 5% (Image: Depositphotos)

Thu, 14 Apr 2022

The heat has all but evaporated from the housing market with sales dropping by a third last month from a year prior. Real Estate Institute data for March showed sales declining to 6,752 from 10,151 year-on-year as buyers hit the pause button after a two-year covid-induced spending spree.The hiatus was reflected in the institute’s house price index which, while still up 9% nationally, is well down on the annual 31.1% level it hit last August. The Auckland index growth slowed to 5.1%, from 25.5% in September.On a seasonally adjusted ba...

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