New Zealand Housing Market Bogged Down by Flood of Listings
- Prices seen recovering in 2025 if summer sales clear backlog
- ‘Prices may bounce along the bottom for a few months yet’: ANZ
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New Zealand’s moribund housing market will need a summer sales surge to eat into a backlog of listings if prices are to stage a sustained recovery in 2025, according to ANZ Bank.
House prices fell 0.5% in October from September for their eighth consecutive monthly decline, CoreLogic said Friday in Wellington. The number of houses available for sale is at a 10-year high, the volume of transactions is subdued and it is taking longer to sell a home, ANZ said in a separate report.