There is further evidence that higher prices for housing outside Auckland are on the cards this year.
The Real Estate Institute (REINZ) said the pace of selling outside Auckland and Canterbury/Westland, the two main population centres, was picking up fast.
Stocks of housing on the market or “inventory” had “significantly declined” between December 2014 and December last year, shrinking from 40.3 weeks to 20.5 weeks.
The housing inventory is measured by the number of weeks it would take to clear the backlog of properties on the market.
LIZ MCDONALD/FAIRFAX NZ