Cause for Optimism

Despite ongoing uncertainty globally, positive momentum is returning to New Zealand’s property sector — and the signs are encouraging.

“Despite the chaos playing out internationally, we’re seeing strong indicators of renewed confidence at home,” says Daniel Horrobin, Director of City Realty Group. “There’s a noticeable shift — both in buyer sentiment and market activity.”

This outlook is backed by national commentary:

REINZ (Mid-June): “Cautious confidence returns to the property market.”

Realestate.co.nz: “The days of dramatic highs and lows appear behind us, with steady activity in the property market.”

Trade Me Property (via Gavin Lloyd): “A plentiful supply of properties, coupled with more affordable loan repayments, is giving buyers a sense of renewed confidence and motivation.”

Ray White: “The auction market sees further confidence — strong buyer engagement lifted the average number of registered bidders to 2.0 per auction.”

Auction Activity Surges

“Speaking of auctions,” says Horrobin, “our highly anticipated Big Auction Day on 29 May was a standout success. Of the 23 properties listed, over 50% sold either prior or under the hammer on the day, with several more sold shortly after. The energy in the room was electric — a real confidence booster for everyone involved.”

Momentum continued two weeks later when 4 out of 5 properties sold under the hammer — an 80% clearance rate. “That event saw 9 active bidders and over 100 bids placed. The lineup featured two leasehold properties sold at $23,500 and $30,000 respectively, with a freehold new-build in between fetching $845,000 — a snapshot of the diversity and competitiveness in Auckland’s apartment market,” says Horrobin.

Open Home Engagement Up

Open Home figures also reflect this surge in interest. Across City Realty Group:

• Property openings were up 12% in May compared to April
• Total Open Homes conducted rose 24.3%
• A total of 729 attendees were recorded across all sites

This increase in foot traffic has no doubt been buoyed by the Reserve Bank’s decision on 28 May to lower the OCR by 25 basis points to 3.25%, with further announcements anticipated in July.

“Right now, both buyer activity and seller motivation are rising in tandem,” Horrobin adds. “If this trajectory continues, the second half of 2025 is shaping up to be much more promising than expected.