New Zealand houses selling faster as buyers return

House prices in New Zealand are recovering after a prolonged slump that coincided with a steep rise in mortgage interest rates. — Bloomberg

WELLINGTON: New Zealand houses are selling faster as signs that interest rates may have peaked encourage more buyers to enter the market.

The median time to sell a house in December was 36 days, Real Estate Institute of New Zealand data showed yesterday in Wellington. That’s the lowest since March 2022 and down from a peak of 60 days in February last year.