Affordability and access to credit driving activity
Affordability is another factor luring buyers back. According to realestate.co.nz, 60% of July listings were priced under $850,000.
“First-home buyers are taking advantage of softer prices, improved access to credit, and better affordability,” Tiller said.
“Investors are stepping back into regional markets where yields remain strong, and vacancy rates are low. Many upgraders and movers, who paused during the downturn, are also re-entering the market as conditions stabilise.”
Spring outlook: Momentum building
Looking ahead, Tiller said the recent momentum could build further.
“If current trends continue, with tight listings, rising demand, and falling interest rates, we’re likely to see an active spring selling season and upward pressure on prices,” he said. “The market doesn’t need a boom to bounce back. A steady shift in sentiment is all it takes, and right now, that shift is underway.”