Welcome to the June issue of Regional Property Insights for 2023, prepared by Tony Alexander with the support of First Mortgage Trust.

In this month’s Regional Property Insights Tony looks at the latest data from REINZ regarding seasonally adjusted volume of sales.

Nationwide in April sales rose by 9% then they rose again by 3% seasonally adjusted in May.  In the three months to May sales around the country were still down 8% from a year earlier, but the seasonally adjusted numbers show that improvement is underway.

We look at each region to see if a similar upturn in activity levels is underway. We also look at what is happening with the stock of properties listed for sale.  Many people are of the view that rising sales and evidence of prices no longer falling will bring vendors back into the market and this will cause the stock of properties for sale to rise.