PHOTO: “Confidence in the market is tempered with caution,” says REINZ CEO Lizzy Ryley. FILE
📉 New REINZ data has sent shockwaves through the housing market – revealing the first national median price dip in months… but the real bombshell? Many regions are STILL surging upwards despite the overall fall.
📊 The Numbers That Matter
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National median price: $761,000 (down $4,000 / -0.5% YoY)
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Excluding Auckland: UP 1.5% to $690,000
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Auckland: UP 1.3% to $964,000
🔥 Biggest movers:
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Gisborne ⬆️ 11.3% to $690,000
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Southland ⬆️ 8.9% to $465,000
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West Coast ⬆️ 7.8% to $385,000
👉 Thirteen out of sixteen regions recorded year-on-year price growth – despite headlines focusing on the national dip.
🗣️ Market Sentiment
“Confidence in the market is tempered with caution,” says REINZ CEO Lizzy Ryley.
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OCR changes have yet to spark the frenzy some expected.
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Buyers & sellers are playing it cool and cautious.
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Spring is likely to bring more listings and more action.
⚠️ What This Means for YOU
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Buyers: Don’t be fooled by the “dip” – competition is still fierce in growth regions.
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Sellers: Your region could be booming – check the stats before setting your price.
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Investors: Stability + regional growth = opportunity knocking.