New Zealand houses take longer to sell due to high interest rates, weak economy, and cautious buyers, with median time rising to 43 days in April.
New Zealand houses take longer to sell amid high interest rates, weak economy, and cautious buyers. Median time to sell a house rose to 43 days in April, up from 38 days in March. The national average home value increased by just 0.1% in the three months to the end of April, with significant slowdown from the 2.2% quarterly home value growth recorded in March. The housing market is expected to face another difficult winter due to interest rates, inflation, and rising unemployment.
May 13, 2024
11 Articles