Category: Latest Updates

Here is a snapshot of the New Zealand market. The Real Estate Institute of New Zealand’s (REINZ) March 2023 figures show the continuing impacts of the economic climate with median prices and sales counts easing and properties taking longer to sell.

Here is a snapshot of the New Zealand market. The Real Estate Institute of New Zealand’s (REINZ) May 2023 figures. Quoting REINZ Chief Executive, Jen Baird. “As we head into the winter months, we are seeing glimpses of positivity, especially in the regions following the Reserve Bank’s announcement of easing loan-to-value restrictions and the stabilising of interest rates.

It’s clear that current high interest rates combined with a tight economy, are still influencing the market as buyers continue to act with caution while economic headwinds play out. This month median prices eased at a slower rate and sales counts are marginally down compared to May 2022. Seven regions increased in sales counts, an indicator of returning market.