In November, the real estate market stayed strong despite rising listings and interest rates. The Ray White group recorded $2.33 billion in sales, up 24.6% from last year, with sales numbers increasing by 2.6%, driven by a 25.5% average price rise.

Ten out of 16 regions measured by the Real Estate Institute of New Zealand reached median price records, and one had an equal price record — the most since March 2021.

A key factor in the real estate market is inventory. The number of houses for sale dropped 23.7% year on year, from 17,576 to 13,407, following a 9.5% decrease in August.

While house prices are an important consideration for interest-rate movements, sustainability also plays a role in how the Reserve Bank sets its monetary policy decisions.

Supply and demand are still a major part of the price stability and our auctions continue to have a strong depth of buyer registration and buyer bidding activity. The

The long term appeal of property investment remains – capital gain, ability to borrow and the alignment with wealth creation will continue to add value to those purchasing property from all buyer classifications.

Last week, the government announced a set of housing policies aimed at increasing supply and limiting investor demand, in an effort to address the current surge in housing prices.

February results published by the REINZ saw 7,964 residential sales throughout the country, which was 14.6 per cent up in comparison to February last year.

Our scheduled auctions continue to rise, reaching a 2021 high with 1,033 properties set for auction, a 161.3% increase compared to the same time last year.

We have quickly transitioned to a virtual platform for auctions and are seeing continued strength across most markets, with new listings coming in for buyers.