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 among the highest in residential property sales across New Zealand.
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 indicated a 24.7 per cent increase in the overall volume of sales, rising from $48.7 billion for the 11 months ending November 2019 to $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, representing a 6.2 per cent increase from the same period in 2019, when 71,405 properties were sold.
This week, realestate.co.nz released their real-time market data regarding inventory levels, new listings, and price positioning.