Real estate Institute of New Zealand
The real estate Institute of New Zealand is reporting that home sales fell -4% year on year. However the adjusted median home price was
- +1.1% in October and
- +7.6% year on year.
- The medium house price year on year rose from NZ$ 561,500 to NZ$ 607,500
The decline in volume year on year was due to a number of people aiming to sell their homes before the foreign buyer ban came into effect at the end of October 2018. As a result the numbers a year ago were skewed to the upside.
According to Bindi Norwell of the REINZ, there were 7800 fewer listings for the 1st 10 months of 2019.