Momentum meets motivation
Treena Drinnan Chief Agency Officer Ray White New Zealand
October marks a turning point for the New Zealand property market, not through sudden change, but through a decisive lift in confidence. The Reserve Bank’ s( RBNZ’ s) bold half-percentage-point cut to the Official Cash Rate( OCR), to 2.50 per cent, has eased borrowing costs and sent a clear signal that the time for waiting has passed.
Economists have described this as front-loaded monetary stimulus, a confidence shock designed to jolt activity across the economy, including the housing sector.
Across our Ray White network, that confidence is already evident. Open-home attendance has lifted, enquiry levels are rising, and sales volumes are rebuilding after a steady winter. Buyers who had been cautious are returning, armed with improved borrowing capacity and a clearer sense of affordability.
For sellers, this is translating into more competition at the point of sale and greater participation at auction. Stock levels remain healthy, but the balance is tilting toward motivated buyers who recognise that easing interest rates and stable pricing create a genuine window of opportunity.
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