Feature article
Buyer confidence in property market at two-year high, survey says
Our annual State of the Nation report
The number of New Zelanders who believe that now is a good time to buy property has reached a two-year high, according to our latest survey of property market watchers and homeowners.
More than 2,500 Kiwi actively looking for property and 3,500 homeowners participated in the February survey that aimed to take the pulse of the property market.
Trade Me Property spokesperson Casey Wylde said nearly two thirds (61%) of those surveyed believe now is a good time to buy a property - up from 53% in October 2024 and 55% in March 2023.
“With mortgage rates falling, supply at an all-time high and property prices stable, it’s a perfect storm for buyers. It’s no surprise that many Kiwi are getting ready to make their next move.”
Mrs Wylde added that demand on Trade Me Property backed up the findings with views on properties for sale up 8% year-on-year in February.
“As the temperature and leaves begin to drop in autumn, typically the market starts to slow but 2025 is bucking the trend as the number of properties for sale hit a new record in February and is showing no signs of slowing in March.
“Trade Me Property has the largest number of listings across all property sites in New Zealand and so we have our finger on the pulse of the property market.”
Lack of supply still a concern despite record listings
Mrs Wylde said despite the number of property listings on Trade Me being at a ten-year high in February, ‘lack of suitable properties’ was still the number one concern for buyers.
“When we surveyed our members in October, cost of living was the biggest concern followed by lack of suitable properties. Since then, the OCR has dropped and Kiwi have a little more certainty that their mortgage repayments won’t be creeping up any time soon.”
Along with a perceived lack of supply, cost of living, and getting the price they want when selling their existing property were the three biggest concerns for buyers.
Majority believe property prices will rise
49% of those surveyed think that property prices will rise in the next 12 months, while 25% believe they’ll stay the same and just 10% say they’ll decrease.
“Most New Zealanders believe that property prices will increase in 2025 after they remained mostly unchanged over the past year. With interest rates easing and a lot of buyers ready to make a purchase, they could be right. However, with listings at an all-time high, this abundance of stock could keep prices stable for a few months yet.”
Mrs Wylde added interestingly in March 2024, 65% of Kiwi believed prices would increase in the 12 months that followed where in fact they remained much the same.
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