Good News Is Gaining Credibility

“There is a growing confidence that the property market (and the wider economy) is beginning to improve,” says Daniel Horrobin, Director of City Realty Group. “We’re seeing encouraging signals from multiple independent sources.”

Market Confidence Building

The latest REINZ October Report reinforces this sentiment:
Market confidence and positivity are evident… The market appears to have stabilised; this may be due to median prices remaining relatively level year on year across the country. Sales have increased nationwide, and salespeople across the country have all commented on the growing positivity and activity they are observing at a regional level.”

Economist Tony Alexander also noted in the NZ Herald (OneRoof, 22 October) that “the chances of good economic outcomes next year look a lot stronger… not least the lagged effect of lower interest rates.”

Daniel adds, “We now look toward the final OCR announcement for the year, with predictions signalling the possibility of a further cut.”

Regulatory Tailwinds

In a surprise move this month, the Reserve Bank confirmed plans to loosen LVR restrictions from 1 December, further supporting buyer momentum heading into summer.

Buyer Activity Surging

City Realty Group’s internal data shows a sharp lift in buyer engagement.

“Early November saw a dramatic surge in open-home activity across our Group,” says Daniel. “Although the number of open homes held dipped slightly week-on-week, the number of buyers met increased by 103%. This reflects renewed confidence and a clear uplift in urgency among active purchasers.”

First-home buyers are a major force in this trend. As reported by the NZ Herald (12 November), 27% of all home purchases are now being made by first home buyers (a record) helped by lower interest rates, increased choice and favourable loan-to-value lending conditions.

Client Engagement & Education

The Central City office also hosted a highly successful Buyers Information Evening on 11 November, featuring expert insights from lawyers, mortgage advisers, property managers and Ray White City Apartments agents.

“Attendance exceeded expectations, and the feedback was excellent. We will absolutely be running more of these events,” says Daniel.

Momentum to Finish the Year

“We head into the end of November with a big Auction Day on the 27th — with 13 auctions already confirmed — and expect to finish 2025 with strong momentum,” Daniel concludes.