Housing market FOMO is back, baby: ASB

Auctions now account for 14% of sales. (Image: NZME)

Mon, 16 Oct 2023

The New Zealand housing market is moving back into "fear of missing out" or FOMO mode as house prices start to ratchet back up after a two-year hiatus dominated by "fear of overpaying". That's as latest numbers from the Real Estate Institute show prices lifting 2.4% since April, and sales up 5.1% on last September. As a reflection of renewed confidence, the institute also notes that auction rooms are filling up, with more than 14% of properties sold under the hammer – up from 9.3% a year prior.&...

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