A spokesperson for REINZ said public sector headwinds, buyer caution and investor retreat were some factors having a negative impact on the Wellington region.<\/p>\n
\u201cThe region\u2019s largest employer, central government, has been reducing headcount and freezing hiring, denting household confidence.<\/p>\n
\u201cMany buyers are delaying decisions due to uncertainty about job security and cost-of-living pressures \u2026 and investors have pulled back in favour of regions with stronger rental returns.\u201d<\/p>\n
Auckland\u2019s median house price increased by 1.3% to $964,000 year on year.<\/p>\n
The most significant increases were recorded in Gisborne, up 11.3% from $620,000 to $690,000; Southland, up 8.9% to $465,000; and in the West Coast, up 7.8% to $385,000.<\/p>\n
\u201cAcross New Zealand, confidence in the property market is tempered with caution,\u201d said REINZ chief executive Lizzy Ryley. <\/p>\n
\u201cAt this stage, both buyers and sellers appear to be taking a measured approach as they watch how the market unfolds, particularly as we near Spring.\u201d<\/p>\n
Westpac senior economist Michael Gordon said the New Zealand housing market remained fairly static in August.<\/p>\n
\u201cPrices were flat for the month, and sales continued to ease off their earlier highs.<\/p>\n
\u201cThe price performance remains mixed across the country. Conditions have been tougher in the main centres \u2026 the more rural regions have generally fared better, particularly in the South Island \u2013 prices in Otago and Southland have been on the rise this year and are above their Covid-era peaks.\u201d<\/p>\n
Meanwhile, sales across the country stalled in August, with nationwide sales declining year on year and month on month by 3.7% and 11.1% respectively.<\/p>\n
\u201cWhile sales have eased in parts of the market, most regions are still seeing increases in median prices. Properties are taking different lengths of time to sell depending on the area, which shows that while the market is active, buyers are considering their options carefully,\u201d Ryley said.<\/p>\n","protected":false},"excerpt":{"rendered":"A spokesperson for REINZ said public sector headwinds, buyer caution and investor retreat were some factors having a…\n","protected":false},"author":2,"featured_media":25243,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[25593,3225,2177,11783,138,6097,638,10053,25591,14995,23561,3556,111,139,1067,425,69,90,3333,12937,6115,25594,8603,25592,52,80],"class_list":{"0":"post-25242","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-25593","9":"tag-according","10":"tag-average","11":"tag-brought","12":"tag-business","13":"tag-down","14":"tag-estate","15":"tag-house","16":"tag-houseprice","17":"tag-institute","18":"tag-median","19":"tag-national","20":"tag-new-zealand","21":"tag-newzealand","22":"tag-northland","23":"tag-now","24":"tag-nz","25":"tag-on","26":"tag-price","27":"tag-prices","28":"tag-real","29":"tag-reinz","30":"tag-slump","31":"tag-weighs","32":"tag-wellington","33":"tag-zealand"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/25242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=25242"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/25242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/25243"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=25242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=25242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=25242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}