Insights into New Zealand’s 2024 Housing Market

The property market in New Zealand is evolving rapidly. Whether you're a first home buyer, investor, or existing homeowner, staying informed about market trends is essential to make smart decisions.

Key Trends Shaping the Market

1. First Home Buyers Taking the Lead
   First home buyers now represent a record 28% of purchases, capitalising on lower prices and reduced competition. Tools like KiwiSaver and access to low-deposit finance are providing significant support.
2. Increased Investor Activity
   Investors are gradually re-entering the market as mortgage rates fall and LVR rules ease. This shift is particularly noticeable in urban areas like Auckland and Christchurch.

Declining Property Values Create Opportunities

Property values have dropped significantly, with an 18% decrease from the peak. Regions like Wellington are experiencing steep declines, offering potential entry points for buyers.

More Listings Mean More Choices

New Zealand’s market is brimming with listings, giving buyers the upper hand to negotiate better deals. However, those looking to sell should focus on competitive pricing and showcasing value.

Rental Market Remains Stable

Rental growth is subdued, with yields slowly improving. While this presents challenges for some landlords, it’s a positive signal for renters and prospective property investors.

What Lies Ahead?

With the OCR and mortgage rates continuing to drop, affordability could improve. The combination of high listings, slowing rental demand, and stable yields offers a unique market environment for both buyers and sellers.

How KEY2 Real Estate Can Help

At KEY2 Real Estate, we specialise in navigating dynamic property markets. Whether you're buying, selling, or investing, our expertise ensures you stay ahead of the curve.

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Explore your options with KEY2 Real Estate. Contact us today to discuss your property needs or view our latest listings.

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