Feature article
November 2024 Property Market Update
Where does the property market stand right now?
AI summary
The NZ property market is currently a buyer's market. A seasonal rise in new listings has created a six-year high in available stock, keeping property values sluggish despite low sales volumes.
First Home Buyers remain very active, holding a record market share, while investors are slowly returning.
Looking ahead, falling mortgage rates are expected to end the price downturn. However, factors like rising unemployment mean the 2025 recovery is predicted to be slow and steady rather than a sharp rebound.
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