Trade Me data shows how quickly houses are being sold

Fresh figures from Trade Me show houses around New Zealand are flying off the shelves.

Source: Getty

Properties are selling in just 27 days nationwide, compared to February 2020 when it took 45 days to sell a home.

Trade Me property sales director Gavin Lloyd said the data shows just how much our housing market has changed in the last year.

“It’s pretty astounding to see properties being snapped up so quick.”

Wellington is seeing houses sell the fastest at just 20 days.

The capital has always had a quick market, though, last year it took 24 days.

“Everything’s in that two- to three-week bracket. It’s simply supply and demand,” Tommy’s Real Estate agent Billy Bell told 1 NEWS.

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TradeMe data released to 1 NEWS reveal it’s a similar story nationwide. Source: 1 NEWS

He said the country doesn’t have enough homes.

“We can change the rules, we can do this and that, but it comes back to one thing – we need more houses.”

Christchurch is also seeing houses sell in less than a month, with homes selling in 24 days.

The areas with the biggest change in sell speed are Waikato and Bay of Plenty.

Bell told 1 NEWS house prices are still pushing people out of our bigger cities and into the regions.

“Prices are much more affordable, and post Covid-19, employers are happy for them to work home. It’s like the Kāpiti Coast here [in Wellington]. It’s going crazy,” he said.

Gisborne was the only region in the country to see an increase in the time it takes to sell a house.

Going from 28 days in March 2020 to 31 this year.

Auckland’s housing market is still going gangbusters, with houses selling in 28 days compared to 34 and demand for a home in our biggest city is up 12 per cent compared to last year.