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Property market slump deepens

Thursday 11th of August 2022

The latest REINZ data shows month-on-month, this was a drop of 4%. Moving from June to July, the seasonally adjusted figures show a decline of 3.5%.

All regions had an annual drop in the number of sales. However, several regions saw a month-on-month increase.

The greatest annual percentage declines were:

  • West Coast, dropped 54.9% annually from 51 to 23;
  • Auckland, down 48.7% annually from 2,767 to 1,419
  • Northland, down 44.0% annually from 243 to 136;
  • Waikato, dropped 43.5% annually from 742 to 419.
Gisborne had the highest month-on-month bump upwards, up 57.7% on June, followed by Hawke’s Bay increasing 39.4%.

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