A golden opportunity in real estate
November has been a standout month in the real estate market , marking a pivotal moment for both buyers and sellers . At Ray White , we are proud to have achieved $ 1.49 billion in sales , reflecting a remarkable 23.20 per cent increase from November 2023 - making it our best month of the year .
This success mirrors broader market trends , with stable property prices , robust stock levels , and increasing buyer activity creating favourable conditions for all participants . Over the past two years , property prices have remained consistent , offering buyers the stability and predictability sellers need . The national average asking price for November saw a slight dip to $ 846,150 , reinforcing this stability .
For sellers , heightened buyer activity and shorter days on the market present a significant opportunity . Ray White ’ s auction strategy continues to lead the way , with properties consistently selling in less than 30 days . Auctions remain a key driver of success , delivering competitive outcomes and swift results .
The outlook for buyers is equally positive , thanks to recent reductions in borrowing costs . The Reserve Bank of New Zealand ’ s ( RBNZ ) decision to lower the Official Cash Rate ( OCR ) by 1.25 per cent since August has made financing more accessible . This has boosted buyer confidence , evidenced by increased property inspections and auction participation .
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