Houses are selling like hot cakes

Nearly eight thousand, 400 homes changed hands in New Zealand last month - the highest for three and a half years.

Real Estate Institute data shows the number of residential properties sold in September increased by more than a third, compared to the same month last year.

It's the highest number of properties sold in a September for 14 years.

The biggest jumps in sales numbers are in Nelson, the West Coast and Auckland.

Sales in Nelson increased by a whopping two thirds.

REINZ CEO Bindi Norwell says much of the activity's being driven by the extremely low rates at which people can borrow money.