New Zealand house prices dip in October, sales activity steadily improving -REINZ By Reuters

© Reuters. Residential houses can be seen along a road in suburban Auckland, New Zealand, June 24, 2017. Picture taken June 24, 2017. REUTERS/David Gray/File Photo

By Lucy Craymer

WELLINGTON (Reuters) – New Zealand house prices fell slightly in October but sales activity shows steady improvement compared to 2022, the Real Estate Institute of New Zealand (REINZ) said on Thursday .

Seasonally adjusted median house prices fell 0.9% in October from September and 2.8% from a year earlier, according to REINZ data.

Seasonally adjusted domestic home sales volumes decreased 10.7% from September, but increased 4.0% from October 2022.

REINZ chief executive Jen Baird said in a statement that the growing number of listings coming to market showed a slow but marked improvement over last year, and that renewed confidence from sellers looking to sell with more certainty now that the October 14 election is imminent. do.

“Many sellers and buyers are showing confidence that now is the best time to sell and a good time to buy,” she said.

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