In this new topic, we get our community to share some insights to help owners, tenants, buyers and sellers understand what the current market conditions are.
First up we remind ourselves of the market cycle clock:
Next we start looking at recent published articles:
Question - Does our community have any market information to share?
Interesting article:
Market alert - Wellington.
For buyers, sellers and agents!
Why read this post?
Wellington house prices slump 30 percent from peak, QV says
Starting to see some evidence of rental rates dropping. Hutt Valley.
Question. Does anyone know what Chatswood area is like to live? I have heard their is quite a few buyers looking and not a lot of properties.
Hi @Littlejohn. A friend of mine has decided to sell his home. He informs me that there seems to be a lot of buyers wanting to purchase and live in Chatswood.
Some further insights into residential property market - Oct 25.
Market alert - This is alarming. But it is pretty typical of a falling market-cycle (3 o’clock - 6 o’clock). Essentially money is tight.
Thousands of households in arrears on council rates.
Hi @RealHelp. Thanks for this market alert. It’s a very big problem for councils. Just make sure all settlements are subject to arrears being paid. This is normal in settlement processes. But it pays to be alert!
I have noticed a lot of auction properties not selling at auctions. Is this correct.
Hi @Hopefullone. Anecdotally from members who are buyers. This appears to be correct. I personally don’t agree with auctions in falling markets. We are hearing from buyers, that they appear to be the only buyer for that particular property in the Auction rooms. Then if this is correct, are they bidding against themselves??
Their are strict rules with this.
A question I often get asked are their real bidders on the phones?
An update on Auckland residential market.
Housing Market Update: Are you waiting to buy, sell, or staying put?New Zealand’s housing market remains subdued, with sales activity continuing to soften as buyers and sellers navigate ongoing economic uncertainty. Higher living costs, borrowing expenses and cautious consumer confidence are all influencing decisions in today’s property market.
Whether you’re planning your next move or simply keeping an eye on the market, we’d love to hear your perspective.
Join the conversationEvery property journey is different. By sharing your experiences and observations, you can help others make more informed decisions.
Read the RNZ article below, then let us know what you’re seeing in your part of New Zealand.
We have an update on the current market conditions:
Do you agree with this?
Lets create a poll, and see how others in the community feel?
House buyers have 45 percent more choice
We at NEW KIDS see that buyers may have as high as 60+ percent. Do you agree?
‘We’ve lost half our deposit’: About 4000 first-home buyers owe more than their homes worth
We are now seeing many home owners selling and taking the loss. This will and is having a big impact on the mental well being of our community.
I know a few divorcees going through property separation’s at the moment. They are facing horrible and difficult choices about taking a loss on their sale of their former home, compared to what they paid for it in happier times.
