The New Zealand property market is showing promising signs of recovery, according to the latest figures from the Real Estate Institute (REINZ). Despite a 3.3% annual decrease in nationwide residential property values, sales counts have increased and properties are selling at a faster rate. However, the number rose by 3.6% month-on-month, likely due to the busier months of the annual property market cycle. REINZ CEO Jen Baird expressed confidence in the market, with signs of an upward trend and growing activity from both buyers and sellers. In conclusion, the New Zealand property market is showing signs of recovery, with stabilizing prices, increased sales counts, and properties selling more quickly.
