Whittle Knight

New Zealand’s property market is approaching 2025 with a mix of challenges and opportunities, as lower mortgage rates contend with stretched affordability, abundant listings, and a softening labour market. Read more here: https://lnkd.in/gVhwNJ7K

Buyers are showing increased interest, spurred by the recent reduction in the Official Cash Rate (OCR), prompting more transactions nationwide. Read more here: https://lnkd.in/geKEGye5

The CoreLogic NZ November Housing Chart Pack shows property sales activity increased by 16% in October compared to the same time last year, the 17th increase in the past 18 months. However, sales volumes remain 10–15% below typical seasonal levels, reflecting cautious buyer behaviour amidst ongoing affordability challenges. Read more here: https://lnkd.in/gszSkNFK

“Salespeople are seeing more confidence among vendors and buyers now we’re into spring, and this shows signs of a busier market leading up to Christmas." - REINZ Chief Executive Jen Baird Read more here: https://lnkd.in/gbRBWVEh

"Despite lingering challenges such as the cost of living, many believe that the downward trend of interest rates will lead to a gradual recovery as we move into 2025." - Jen Baird CEO, REINZ Read more here: https://lnkd.in/gNg3SUcU

CoreLogic’s September Housing Chart Pack shows sale volumes, measured across both private and agent-led transactions rose 1.6% in August, compared to the same month last year. This is the 15th rise since April 2023, only interrupted by a drop in June this year. Read more here: https://lnkd.in/ggSxc6_v

“There is an expectation that rates will fall further towards the end of this year, providing the much-needed relief to property owners and those in the position to buy, which may increase sales volumes nationwide." – Jen Baird, REINZ CEO Read more here: https://lnkd.in/gV9qWkgQ

“Although we have not yet reached the spring season, we are observing early signs of growth in the market not typically associated with this time of year." – Jen Baird, REINZ CEO Read more here: https://lnkd.in/gkPugU3g

"New data from Trade Me Property shows that now could be the time to buy, with prices having fallen slightly over winter, many listings to choose from and interest rates on their way down." Read more here: https://lnkd.in/gZCYvwAV

"With an increase in the total number of houses for sale and slower-than-average sales, buyers have plenty of choices this winter." Read more here: https://lnkd.in/grhccKMX