The Real Estate Institute of New Zealand (REINZ) has released figures for May, revealing a moderately more active market as the country heads into the winter season. While the number of sales has increased compared to the same period last year, this growth has been accompanied by a decline in the national median price and a slowdown in the number of new listings coming to the market.

Bay of Plenty activity

There were 470 sales reported in the Bay of Plenty during May, a 17.5% increase year-on-year. Owner occupiers and first home buyers were the most active buyer groups. The median sale price for the region now sits at $822,000, a 0.9% increase year-on-year. 

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