The New Zealand Property Market
The latest data from realestate.co.nz suggests the New Zealand property market has settled into a new, more stabilised normal, resulting in bona fide buyers’ markets in Wellington, Auckland, Hawke’s Bay, and Gisborne.
The scales have tipped; buyers now have the edge but while the market has changed, it’s merely flattening—there are no signs of a “bubble burst” on the horizon.
This is good news for property investors who are interested in taking advantage of the current market conditions. In this blog post, we'll take a look at some of the reasons why now is a good time to invest in New Zealand real estate.
An increase in available properties
The number of homes available for Kiwis to buy has been steadily increasing since mid-2021—from 5,809 in July 2021 to 10,626 in July 2022. This is good news for buyers who are looking for more choice when it comes to purchasing a property. It's also worth noting that this trend is not limited to just residential properties; commercial and industrial properties are also becoming increasingly available as businesses downsize or relocate.
A stable and less urgent environment
This increase in available properties has created a stable and less urgent environment for buyers—giving them time to think about their purchase, their offer, and arranging the necessary inspections. This is in contrast to previous years when buyers would have to act fast or risk missing out on their dream home.
Increased bargaining power
Due to the current conditions, buyers now have increased bargaining power when negotiating with sellers. Sellers are more likely to be open to negotiation in order to ensure that their property does not stay on the market for an extended period of time.
Now is a great time to invest in Auckland, New Zealand real estate. With an increase in available properties and improved bargaining power for buyers, there are plenty of opportunities for investors to score a great deal on a property. If you're thinking about investing in Auckland property, now is the time to do it! We can even appraise your family home to give you an idea of the equity you have available to you for an investment property. We can point you to a mortgage broker that is practiced in