REINZ Chief optimistic about market conditions
Loan Market loanmarket . co . nz
The Real Estate Institute of New Zealand ( REINZ ) has observed growing stability in the real estate market this spring , with signs of a slow but steady recovery heading into 2025 . While market activity remains relatively subdued , there is an increasing sense of optimism that conditions will improve as interest rates continue to soften .
REINZ chief executive Jen Baird points to a noticeable uptick in confidence , especially following the Reserve Bank ’ s ( RBNZ ) decision to reduce the Official Cash Rate ( OCR ) by 50 basis points to 4.75 per cent .
“ This reduction is expected to prompt increased activity from prospective buyers , signalling a potential turning point for the market ,” Baird said . “ As we move into 2025 , we anticipate more engagement and transaction volume , particularly as those on the sidelines begin to feel more confident in securing financing at lower rates .”
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