New Zealand Property News

Home sales build across New Zealand

Sales activity within the residential sector of the New Zealand real estate market is running high thanks to a strong demand for homes across the country. Sales figures for January show an increase of more than 20 per cent on the same time twelve months ago and average house prices are more than 4 per cent higher year on year. Data supplied by the Real Estate Institute of New Zealand show a promising start to 2013 driven by pent up demand that has resulted in sales volume growth across the residential real estate sector during last month to the greatest level for January since 2009. Auction sales in particular greatly improved when compared to January 2012. Comments from real estate agents across the country suggest high levels of buyer enquiries in most regions but a lack of new listings is likely to push prices upwards. During January the total value of residential real estate sales came to $2.24 billion – compared to the total of $1.72 billion recorded during January 2012.