Crucially, many recognise that while house prices have been relatively stable, borrowing costs are unlikely to be.
“ That creates a buyer who is measured and motivated,” he says.
“ For sellers, this is an opportunity. Purchasers still have sufficient choice to transact with confidence, yet there is growing recognition that delaying a decision may mean paying more to finance the same purchase in six or 12 months.
“ In our experience, this is exactly the buyer capable of creating strong competition for quality homes. They’ re not frantic, they are informed, and often that provides the foundation for the strongest sales outcomes.”
“ Purchasers still have sufficient choice to transact with confidence, yet there is growing recognition that delaying a decision may mean paying more to finance the same purchase in six or 12 months.”
Daniel Coulson, Ray White New Zealand, Chief Executive
SUPPLY ISN’ T STATIC
“ Housing supply is often discussed as though it can be switched on and off, but it moves with a significant lag.”
Auckland has only recently worked through the backlog of consented homes that accumulated between 2022 and 2025, finally bringing completions back in line with the number of consents. Yet, consent numbers continue to rise, and industry estimates suggest construction capacity in our largest city will need to expand by around 20 per cent over the next two years to keep pace.
“ The important point isn’ t about today’ s supply,” Coulson says.“ It’ s tomorrow’ s.”
“ New homes typically take around two years to progress from consent to completion, meaning the decisions being made today will shape the market well into 2028.
“ Add the uncertainty that accompanies a general election, when planning priorities, infrastructure investment and development policy can quickly shift, and the future pipeline becomes considerably harder to predict.”
Coulson adds that property markets don’ t tighten overnight but gradually, even as most people are still looking at yesterday’ s supply numbers.
Source: Ray White New Zealand
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