Unforeseen housing prices created by unforeseen home buyers
Unforeseen housing prices created by unforeseen home buyers
11 September 2020
Data from the Real Estate Institute shows record increases in house prices and homes being snapped up faster.
Nationally the median house price increased by 16.4 percent between August last year and August this year.
The median price outside of Auckland was 570 thousand last month, compared to 499 thousand a year ago.
And the median number of days to sell dropped five days to 34, the lowest number in four years.
One Roof editor Owen Vaughan says there are more people at auctions, more registered bidders and even cases of homes purchased 'sight-unseen'.
He says returning kiwis are putting pressure on the market and creating more competition.
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