REINZ March data: Market pace slow, activity in the regions start to reappear
The current economy is influencing market activity, with buyers taking their time to negotiate and wait to see if prices ease further.
At the end of March, there were 29,284 properties for sale across New Zealand, up 3,625 properties (+14.1%) year-on-year, and up 0.7% month-on-month. First home buyers are actively returning in the regions with the advantage of choice.
The weather events of the beginning of the year are still being felt in those regions heavily impacted, but the supply/demand balance may start to change.
House Price Index (HPI)
Wellington has been in the bottom two ranked regions for the year-on-year HPI movement seventeen months in a row.
Listings
All but two regions had decreased in listings since March 2022, with Marlborough and Taranaki having the only increases.
