New Zealand housing supply skyrockets by 76 pct in 12 months

STORY: New Zealand housing supply skyrockets by 76 pct in 12 months DATELINE: Sept. 24, 2022 LENGTH: 00:01:01 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of houses in New Zealand STORYLINE: The number of properties for sale across New Zealand continued to soar last month, jumping a record 76 percent when compared with August last year, according to the latest Trade Me Property Price Index released on Thursday. Trade Me Property Sales Director Gavin Lloyd said nationwide property supply had now seen a year-on-year jump for nine months straight. "While last month's spike is partly due to the nationwide lockdown in August 2021, these increases have been on an upward trajectory all year and currently supply is well above pre-pandemic levels." "Last month marked the third month in a row where we saw listing numbers spike by more than 50 percent year-on-year," he said. While every region saw supply up by at least a third in August when compared with the same month last year, Lloyd