Is the Property Market Finally Rebounding?

There’s growing optimism that New Zealand’s property market is making a comeback, fueled by a third consecutive cut to interest rates.

The Reserve Bank of New Zealand has slashed the Official Cash Rate (OCR) by another 0.5% to 4.25%. While it’s still early days for the latest reduction, the effects of previous cuts are already evident.

Real estate agents are reporting a noticeable uptick in inquiries, with open homes and auctions seeing larger crowds. OneRoof, New Zealand’s leading property site, has seen a 20% surge in inquiries over the past few weeks alone.

Supporting this trend, the Real Estate Institute of New Zealand (REINZ) revealed that national property values have turned the corner, increasing by 1% in the quarter to October. The latest OneRoof-Valocity Price Report pegs the average New Zealand home at $957,000, with the authors suggesting the market may have found its floor.

Looking at sales data from the three months to October, property prices dipped just 0.7%—a marked improvement compared to the 1.1% drop in the previous quarter.

It seems better times could be ahead for property owners, but the trajectory will largely depend on economic recovery, interest rates, affordability, and the ongoing supply of homes hitting the market.

Regional Highlights

Canterbury: Quarterly values rose, with the average price climbing to $782,000.
Auckland: Growth returned to some areas, with a third of metro suburbs recording value increases. However, the overall average dipped 0.8% ($10,000), settling at $1.279 million.

The OneRoof-Valocity House Value Index also noted that six regions saw quarterly growth, signaling a recovery may already be underway.

What Does This Mean for You?

With favourable conditions emerging, it won’t be long before savvy upgraders take advantage of the balance between selling and buying their next home. Don’t get swept away by the crowd.

Now is the time to act. Reach out to your trusted real estate agent today to explore the best opportunities and stay ahead of the market rush.

Let’s discuss your home selling strategy.

By choosing us, you’ll benefit from our expertise and commitment, ensuring you feel confident and valued throughout the entire process.

Book an Appraisal Call now

    
 
 
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    Brenda Crooks 
 
 
 
  Ben went over and above for us, he offered to fix a few small things around the house for us, and practically ended up redoing our bathroom. We were really happy with his generosity. Jade and Ben were lovely to work with and we really felt they were a good fit for us.
  
 
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    Alex Hewton - Malins 
 
 
 
  This is the second time we have sold with Ben and both times the result has been outstanding. On a personal level we click and its clear he actually cares about both the sellers and the buyers he is working with. The result we achieved and the sheer quantity of offers received in a dead market shows what an outstanding salesman and marketer Ben (and is his team) is.
  
 
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    Jo Mcgeachin 
 
 
 
  Ben was extremely easy to talk to and very informative about how things would progress. He listened to us and advised us about the right way to go. We are very happy with his pleasant and professional manner.
  
 
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    Jason Pepping 
 
 
 
  Ben is a very personable agent. He has excellent communication and was usually available to answer any questions we had, regardless of the hour!
  
 
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    Carla Shields 
 
 
 
  Ben and the team did an amazing job selling our house. They know the market so well and gave us the best advice throughout the whole process. We have used them before and so glad we choose to use them again. Highly recommended.
  
 
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    Yasas Gamage 
 
 
 
  Ben, Peter and Jade. You guys are the most awesome Real Estate Agents we have ever met. We went to hundreds of open homes and met many agents throughout our search for a home, yet we would come back to you straight away for our next house. Thank you!
  
 
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    Jaan Turia 
 
 
 
  Ben worked exceptionally hard on our behalf to get the sale over the line. Ours was not straightforward  by any means, and Ben navigated through the many twists and turns to ensure a very satisfactory outcome for us. We highly recommend Ben. :)
  
 
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    Laurel Tse 
 
 
 
  Ben went above and beyond our expectations. He gave great advice on how to best prepare our house for sale and even pitched in to help. He was very personable and great to work with. I would definitely recommend his services!
  
 
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    Joanne Murphy 
 
 
 
  Ben and the team were very professional and friendly - always willing to help & go the extra mile. It was my first time selling property alone and they took a lot of stress out of the process, it was such a relief. I felt supported throughout & now I gladly recommend them to my friends. Thanks team, you’re awesome!
  
 
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    Amanda Hawea 
 
 
 
  Ben was fantastic. He made the selling process easy for us, gave great advice throughout the process, and went above and beyond to get a great sale result. We would definitely recommend Ben and his team to others.

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Is the Property Market Finally Rebounding?

Regional Highlights

What Does This Mean for You?

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