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Keep informed with PropertySage’s latest blog, offering landlords vital market updates, valuable insights, and expert advice to optimize rental properties and ensure a seamless, rewarding experience for tenants.
The housing market is looking better for buyers this year, with more listings and falling prices. In January, there were about 39,000 homes available, a 17% increase from last year, while the average asking price dropped to $842,900. This trend suggests that buyers have more options and lower prices as we enter the busiest season for real estate.
In January, property values in Aotearoa New Zealand fell by 0.1%, continuing a trend of limited movement over the past five months, with the national median value at $803,819—17.5% below peak levels from late 2021. Despite some signs of potential growth in specific areas, such as North Shore in Auckland, overall stability in property values suggests a cautious outlook, influenced by lower mortgage rates and increasing sales. However, challenges such as a soft economy and upcoming debt-to-income ratio caps may hinder a significant rebound in the market.
