Trade Me has released its October housing report, which reported that the number of homes listed for sale across New Zealand jumped by 43% year-on-year, marking the highest annual number of listings for an October on record. Commenting on the result, Trade Me Property Sales Director Gavin Lloyd noted “nationwide supply has now seen an annual increase for 13 months in a row”. “This is the first time we have seen a year-on-year increase of less than 5% since April 2020, at the beginning of the pandemic”, according to Gavin Lloyd. Values also rebounded 1% month-on-month in October, “which mirrors what we have seen in previous years where the market picks up during the warmer months”, according to Lloyd. So long as the RBNZ continues to lift interest rates, New Zealand house prices will necessarily continue to fall.
