PHOTO: Auckland , NZ Donovan Kelly
đ° Aucklandâs Property Market Ignites with Surge in Buyer Activity
đ Aucklandâs real estate market is heating up fast â and buyers are scrambling to get in before prices climb even higher. The latest market update reveals a surge in buyer competition across the region, with auctions now attracting crowds that havenât been seen since the pre-pandemic peak.
đŒ Experts are crediting the recent uptick to stabilising interest rates, improved buyer confidence, and what agents are calling a new wave of âFOMOâ â fear of missing out.
đïž According to Barfoot & Thompson, Aucklandâs largest real estate agency, the number of homes sold in the past month jumped by nearly 30% compared to the same time last year. The average sale price also saw a noticeable lift, with family homes in popular suburbs like Mt Eden, Grey Lynn, and Howick being snapped up within days of listing.
đ§ Property economist Sharon Zollner says the shift is significant. âWeâre seeing more first-home buyers re-entering the market, along with investors who are betting that now is the bottom,â she said. âWith less uncertainty around interest rates, confidence is growing.â
đȘ Open homes have been packed in recent weeks, with some listings receiving up to 100 visitors over the weekend. Real estate agents are encouraging sellers to take advantage of the momentum, noting that well-presented properties are often attracting multiple offers and competitive bidding wars.
đ§Ÿ Auckland resident Jamie Leung recently purchased her first home in New Lynn and says the experience was intense. âWe missed out on two houses, so we knew we had to act fast this time. We offered above the asking price, and still barely got it.â
đĄ Property professionals are urging buyers to secure mortgage pre-approval and act decisively in this fast-moving market.
đ If this pace continues, Auckland could be on the verge of a full-scale property rebound.