A message from our chief executive
Dear Property Owner, The market isn’ t roaring, but it hums. Quietly. Persistently.
What we’ re seeing isn’ t a comeback or collapse, it’ s a recalibration in real-time. Not the dramatic kind that grabs headlines, but the kind that changes outcomes.
Buyers are no longer just watching; they’ re shortlisting. Sellers aren’ t just testing the waters; they’ re meeting the market. And the once-wide gulf between hesitation and decision is beginning to close.
At Ray White New Zealand, we’ ve seen this shift reflected in our June results. Across our network, we listed 1,495 new properties and achieved 1,383 unconditional sales.
That leaves a difference of just 112 properties – the narrowest margin we’ ve seen this year, and a clear sign that the sales-tolistings ratio is moving back into better equilibrium.
For context, the gap between listings and sales hovered closer to 1,000 properties in March.
This shift indicates a rebalancing of supply and demand, with early signs suggesting that house price momentum may follow in the coming months.
Contributing to this stabilisation is confidence that mortgage rates will continue to ease, supported by the Reserve Bank’ s( RBNZ) sixth consecutive cut to the Official Cash Rate( OCR) since August, bringing it down to 3.25 per cent.
While inventory remains high by historical standards and days to sell have extended, conditions continue to favour those with cash or equity who can negotiate well. But confidence is stirring.
High auction participation and continued strength in our clearance rates underscore a growing willingness to act.
Globally, however, the outlook remains uncertain. The world is moving into a new phase of geopolitical fragmentation.
The return of U. S. tariffs and ongoing trade negotiations have significant implications for New Zealand, particularly in the housing and construction sectors, where supply chains for materials and appliances are vulnerable to global fluctuations.
Amid macroeconomic change, New Zealand stands out as a politically and institutionally stable destination, a key drawcard for global capital seeking‘ safe-haven’ assets. This is particularly true for the real estate industry.
For those looking ahead, strategy matters.
Whether you’ re using current conditions to re-enter, trade up, or step in for the first time, informed decision-making is your sharpest tool.
As conditions continue to evolve, it becomes more valuable to act from a place of informed confidence. We hope this edition provides the clarity and insight you need to navigate your property journey.
Please enjoy our 82nd edition of Ray White Now.
While a step in the right direction, we believe there’ s more to be done. Residential demand is driven by three key factors: immigration, interest rates, and economic performance. Right now, only one, mortgage lending rates, is pulling its weight.
With economic growth still uneven and business activity subdued, especially among small business owners who often leverage their homes, further cuts aren’ t just desirable- they’ re essential for the economy.
This cautious environment has kept affordability at the forefront for residential decision-makers.
According to Real Estate Institute( REINZ) data, the national lower quartile house price has dropped more than $ 90,000 from the peak in late 2021.
Daniel Coulson Chief Executive Ray White New Zealand
At the same time, average mortgage lending rates have eased, making home ownership more achievable than it’ s been in years, particularly for first-home buyers.
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