$1million house sales

PHOTO: Seventy-two per cent of these sales were in the Auckland region alone. Source: 1 NEWS

The Real Estate Institute of New Zealand (REINZ) says the number of properties which sold for more than $1 million has risen dramatically in the past year.

REINZ, which represents members of the real estate industry, said 18,181 properties sold for more than a million in 2020, up 68 per cent from 10,819 in 2019.

The new figure also set a new record, beating 11,619 million-dollar plus sales in 2016.

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REINZ Chief Executive Bindi Norwell said “when Covid-19 first hit New Zealand’s shores in Q1 2020, no one would have predicted that the year would become a record breaker for property prices and that we would conclude the year with a 68 per cent uplift in the number of million-dollar plus properties sold.



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