Feature article
November 2024 Property Market Update
Where does the property market stand right now?
AI summary
New Zealand's property market gives buyers pricing power, with listings at a six-year high while sales volumes remain low. National property values have seen eight months of decline, per the CoreLogic HVI.
First home buyers are highly active, holding a record 26-27% market share, while investors are only slowly returning.
With Official Cash Rate (OCR) cuts expected to lower mortgage rates, the downturn may be ending. However, a slow and steady recovery is forecast for 2025.
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