A MARKET BALANCING
The latest data shows national property values have risen for two consecutive months – a 0.2 per cent lift in October, following a similar gain in September. Coulson says it’ s a subtle but meaningful change.
“ House prices look to end the year slightly higher than where they started, which is positive following winter weakness. At the same time, auction clearance rates across our Ray White network are climbing, days to sell continue to shorten, and sales volumes are tracking close to long-term averages.
“ The tone of the market has turned from tentative to orderly – firm enough to restore confidence but measured to avoid overheating.”
Economists suggest these modest monthly increases may mark the early stages of an upswing, supported by falling mortgage lending rates and a tightening supply of listings.
Source: RBNZ, MACROBOND, ANZ RESEARCH
“ Values remain around 17 per cent below their 2022 peak – creating headroom for buyers and the sense of opportunity that always precedes momentum. In short, the market is stable and confidence is rising, which is the kind of alignment that rarely lasts long,” he says.
RAY WHITE NOW NEW ZEALAND | 8