WHAT IS THE REAL ESTATE INSTITUTE SAYING ABOUT THE MARKET?

The Real Estate Institute of New Zealand’s (REINZ) March 2023 figures show:

• the median house price in Tamaki Makaurau decreased 16.6% year-on-year to $1,000,600, and

• the average number of days to sell increased from 39 to 45 days when compared to March 2022.

Interestingly, the 10 year average number of days to sell in March is 36 days.

“Across Auckland, owner occupiers were the most active buyer pool, and in West and South Auckland, first home buyers were a close second.

Salespeople in Central Auckland say that there was a decrease in first home buyer activity due to continued difficulty in securing finance and with many young people now travelling or moving overseas.”

Our non-franchised network of agents working with a variety of buyers from across the city is at your service in this challenging market!