SYDNEY: New Zealand house prices rose in February amid robust sales activity, expanding stock levels and increasing listings, the Real Estate Institute of New Zealand (REINZ) said on Thursday.
Seasonally adjusted median house prices nudged 1.9 per cent higher from January, while they were up 3.1 per cent from a year earlier, REINZ data showed. Seasonally adjusted national home sales count rose 7.9 per cent from January and 23.5 per cent from February 2023.
More investors and first-home buyers have been visiting open homes, REINZ Chief Executive Jen Baird said in a statement.
"Some buyers are holding out for the 'right' property while others are getting 'into the market' before competition rises as investors return. This buoyancy is a positive sign that we haven't seen for a while," Baird said.