The low number of new listings in July has meant that the number of houses sold in New Zealand during September decreased by -3.0% year-on-year.
This was the lowest level number of properties sold since January this year, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.
The number of properties sold across the country fell from 5,674 in September 2017 to 5,506 in September this year – 168 fewer properties.
This is the lowest for the month of September since September 2011.
For New Zealand excluding Auckland, the number of properties sold decreased by -3.3% – 133 fewer properties when compared to September 2017 (from 4,023 to 3,890).
The median number of days to sell a property nationally increased by 2 days from 34 to 36 when compared to September last year.
For New Zealand excluding Auckland, the median days to sell increased on an annual basis by 3 days from 32 to 35.
Auctions were used in 14.5% of all sales across the country in September, with 798 properties selling under the hammer – this is down slightly from September 2017, when 14.8% of properties (798) were sold via auction.