New Zealand home listings reach highest level in ten years

The number of homes for sale in New Zealand has reached a decade high, with 32,000 listings available. This is a 20 percent increase compared to October last year, according to Realestate.co.nz. Wellington has seen a significant rise, with 50 percent more homes listed than in October 2023. The increase in listings is attributed to recent drops in the Official Cash Rate, boosting market confidence. Despite the rise in listings and inquiries, it remains uncertain how quickly these will translate into actual sales.