Property market continues to defy expectations

A Property and Build article.

The latest data from the Real Estate Institute of New Zealand (REINZ) reports sales volumes and prices up, but for how much longer will this high last?

The number of residential properties sold in July across New Zealand increased by 24.6% from the same time last year (from 6,303 to 7,854). It’s the highest number of properties sold in a July month for 5 years.

For New Zealand excluding Auckland, the number of properties sold increased by 21.5% when compared to the same time last year (from 4,328 to 5,258). This is the highest for the month of July in 15 years.

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