Houses are selling like hot cakes
Houses are selling like hot cakes
13 October 2020
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.
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