We now begin trading in the second week of 2021, and there continues to be significant momentum in all sectors of the real estate market. The results for December were one of the highest in regard to residential property sales across New Zealand for the real estate industry.
The latest data from the Real Estate Institute of New Zealand shows continuing tight supply and high demand almost everywhere across the nation. The annual review of New Zealand’s residential property market in 2020 has shown a 24.7 per cent increase in the overall volume of sales, up from $48.7 billion for the 11 months ending November 2019 in comparison to the $60.8 billion for the 11 months ending November 2020. The number of residential properties sold across New Zealand for the 11 months ending November 2020 totalled 75,800, which is a 6.2 per cent increase on the same period in 2019, when 71,405 properties were sold.
This week realestate.co.nz released their real-time market data on information relating to their website in regard to inventory levels, new listings to the market, and price positioning.
