Market momentum tipped to continue
According to the latest Real Estate Institute data, the days taken to sell a house fell to 31 days in December, compared with a historical average of 39 days.
REINZ data shows the average median house price rose by 19.3% to $749,000 in December, from $628,000 in December 2019, an annual increase of $121,000.
As inventory hits all-time lows, economists at ANZ predict the heat will remain in the housing market in the early part of the year.
"This speaks to further upwards pressure on prices, reinforced by the fact that house price expectations have increased as the housing market has strengthened," the bank's economists said.
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