In May, property market trends show a monthly increase in sales but a decrease in new listings, indicating buyer caution.

In May, property market trends show a monthly increase in sales but a decrease in new listings, indicating buyers are cautious and seeking opportunities. LJ Hooker Group reported a 11% increase in sales, but a 17% drop in new listings compared to April 2024. Trade Me's Property Price Index revealed a 2.3% decline in property prices in May compared to the previous month, with New Zealand's average asking price being $857,800. Buyers are becoming more cautious, and properties are spending more time on the market.

June 11, 2024
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