November 2024 Property Market Update

The NZ property market is a buyer's market, with listings at a six-year high and sluggish sales. CoreLogic data shows national values have fallen for eight straight months, giving buyers significant pricing power.

First home buyers are very active, holding a record market share, while investors are slowly returning.

Expected Official Cash Rate cuts suggest lower mortgage rates ahead. However, the 2025 outlook is for a slow, steady recovery, constrained by rising unemployment and upcoming debt-to-income ratio caps.