Key Facts:

  • Houses in New Zealand are selling faster and for higher prices, according to Trade Me.
  • In September 2023, houses sold on Trade Me took an average of 29 days to sell, which is the shortest time recorded since 2007.
  • Average house prices in New Zealand increased by 17.5% in September compared to the same month last year.
  • The only two regions where house prices did not rise were Auckland and Waikato, with prices falling by 0.6% and 0.9%, respectively.

Article Summary:

According to Trade Me, houses in New Zealand are selling faster and for higher prices. In September 2023, the average time it took for a house to sell on Trade Me was 29 days, which is the shortest time since 2007. Additionally, average house prices increased by 17.5% in September compared to the same month last year.

However, there were two regions where house prices did not follow this trend. Auckland and Waikato experienced price decreases of 0.6% and 0.9%, respectively. This could indicate a potential cooling of the market in these areas.

Overall, the New Zealand housing market continues to be strong, with properties being snapped up quickly and prices on the rise. The demand for housing is still high, but it appears that the Auckland and Waikato regions are experiencing some price correction.

To read the full article, go to: https://www.newshub.co.nz/home/money/2023/09/houses-selling-quicker-for-more-money-except-in-two-big-regions-trade-me.html