The market is also better supplied than it has been at any point during the recovery.
New listings reached 11,891 in February, up 6.00 per cent on the same month last year, and the 12-month rolling count of listings sits at 111,378. Yet the market is absorbing that supply efficiently: the sales-to-listings conversion ratio reached 72.30 per cent in February- the highest level it’ s been at for the last five years.
The 12-month rolling count of sales reached 80,564, up approximately nine per cent from the same point last year.
Transaction activity has been recovering steadily since the correction, and February’ s 6,523 sales were essentially level with February 2025’ s 6,502— a sign that the annual improvement is structural rather than month-tomonth noise.
RAY WHITE NOW NEW ZEALAND | 11