Feature article
November 2024 Property Market Update
Where does the property market stand right now?
AI summary
The NZ property market remains sluggish, with a six-year high in listings giving buyers pricing power as values continue a slight decline.
First home buyers are very active, holding a record 26-27% market share. In contrast, investors remain quieter but are slowly returning, enticed by policy changes.
An expected OCR cut on November 27 suggests mortgage rates may fall further, but any 2025 market recovery is forecast to be slow and steady due to economic headwinds.
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