2023 REINZ December Data


WHITEFOX Realestate

Sales Activity:

The number of properties sold increased by 14.1% year-on-year (from 4,509 to 5,145).
Month-on-month, sales decreased by 20.8% from November 2023 to December 2023.

Regional Variations:

Almost every region recorded year-on-year increases in properties sold, with Tasman leading at +47.8%.
Taranaki was the only region with a year-on-year decrease in the number of properties sold (-8.0%).

Median Prices:

Median sale prices were mixed for December, with Nelson and Taranaki showing significant month-on-month increases.
Year-on-year, the national median sale price decreased by 0.7% to $779,830.

Market Confidence:

Local agents report growing market confidence and activity levels, attributed to the new government’s plans, stabilized interest rates, and the conclusion of the election.

Method of Sale:

The number of people choosing auctions increased, accounting for 14.0% of sales in December 2023 compared to 11.4% in December 2022.

Days to Sell:

The national median Days to Sell was 36 days, a decrease of two days compared to the previous month and four days year-on-year.

New Listings:

New listings decreased year-on-year by 6.4%, indicating a possible ‘wait and see’ approach by some vendors.
Total properties available for sale at the end of December decreased by 4.6% year-on-year.

2023 Overview:

The year 2023 was busier in real estate compared to 2022, with a total of 63,361 sales, up 0.6% from the previous year.
91,231 properties were listed for sale, down 12.1% on 2022.

WHITEFOX Realestate

Housing Price Index (HPI):

The HPI for New Zealand in December 2023 was 3,647, showing a 1.1% decrease compared to the previous month.
Compared to the same period last year, the HPI reflects a 0.5% increase.


Despite influences from interest rates and economic factors, there is growing positivity among buyers and sellers.
Increased levels of enquiry are expected to boost market activity further through the summer.



Overall, the data suggests a positive end to the year in the New Zealand real estate market, with signs of confidence, increased sales, and a favourable outlook for the upcoming months. As usual, should you need any further help or assistance with buying or selling, we look forward to hearing from you.