REINZ has released its Monthly Property Report and HPI Monthly Data which provides a market leading level of detail and understanding of housing activity in New Zealand. The Monthly Property Report has shown the number of residential properties sold in April across New Zealand was the highest for an April month in 5 years with 7,218 properties sold.
Wendy Alexander, Acting Chief Executive at REINZ says: “As we predicted last month, the ongoing lack of supply continues to put upwards pressure on house prices. However, we have seen some regions start to show signs of prices easing and the rate of growth slowing down a little which will be welcome news to those looking to get on the property market. Additionally, it might be the first signs that the re-introduction of the LVRs is starting to have the desired effect.”
The number one advantage between REINZ data and other housing data on the market is that REINZ has access to sales data from the time the price is locked in (unconditional data) as opposed to when the house changes hands (settlement date) which can often be weeks or months later. Therefore, REINZ data is the best and most timely measure of recent housing market activity.