(REINZ/Reserve Bank Stratified Index - Jan 1992 : 1000)
The new Stratified House Price Index has been developed by the Real Estate Institute (REINZ) with the Reserve Bank of NZ. This index provides the most timely and accurate representation of house price movements in NZ. The data is collated from unconditional sales data for the preceding month as reported by licensed real estate agents. The stratified computation makes allowances so that movements in price caused by larger sales in one price sector does not impact the overall price index. Thereby making the index far more robust than a simple mean (average) or median price.
(Equivalent weeks of inventory based on REINZ monthly sales - 3MMA)
This measure of inventory of properties on the market utilises the statistics of the number of listings featured on realestate.co.nz. This absolute number of listings is then expressed as a "number of weeks" of inventory by dividing the inventory by the average number of properties sold in NZ over the past 3 months. The website of realestate.co.nz is the most comprehensive source of properties for sale as it is used by over 94% of all licensed real estate agents in NZ to feature their clients' properties.
(REINZ - residential properties in NZ)
The Real Estate Institute collates the most timely and accurate representation of the state of the property market through the REINZ monthly sales statistics. The data of unconditional sales are as reported by licensed real estate agents in the preceding month.