There is further signs of weakness in the housing market with new data showing the market in Wellington now favouring buyers for the first time in eight years.
Property website Real Estate.co.nz says Wellington has officially become a buyers' market in March 2022, with properties staying on the market for an average of 17 weeks.
Auckland has also seen a shift in turnover rates, suggesting it could become a national trend.
Realestate.co.nz spokesperson Vanessa Williams spoke to Corin Dann.
