First home buyers

PHOTO: FILE

🔍 Key Findings from Trade Me’s Latest Property Survey

  • 61% of Kiwis believe that now is a good time to buy property—the highest confidence level in two years.
  • Record high listings on Trade Me Property, yet buyers still cite a ‘lack of suitable properties’ as their primary concern.
  • 49% predict that property prices will increase within the next 12 months.

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📈 Buyer Confidence in Property Market at a Two-Year High

According to a recent Trade Me Property survey, confidence in the New Zealand property market has surged, with more than six in ten Kiwis (61%) believing that now is the right time to buy.

The February survey, which gathered responses from over 2,500 active property seekers and 3,500 homeowners, provides valuable insights into the current state of the housing market.

🔍 Market Trends: Why Confidence is Growing

Trade Me Property spokesperson Casey Wylde attributes this boost in confidence to several key factors:

  • Falling mortgage rates making home loans more affordable.
  • Increased supply of homes, with listings reaching a ten-year high.
  • Stable property prices, providing buyers with greater certainty.

“With mortgage rates easing, supply at an all-time high, and property prices stable, it’s no surprise that many Kiwis are preparing to make their next move,” says Wylde.

This positive sentiment is reflected in buyer activity on Trade Me Property, where property listing views were up 8% year-on-year in February.

“Typically, as we head into autumn, the market cools down. But 2025 is bucking the trend, with the number of properties for sale hitting a new record in February and showing no signs of slowing in March.”

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🏡 Record Listings, But Buyers Struggle to Find Suitable Homes

Despite record-high property listings, the number one concern among buyers remains a lack of suitable properties.

“When we surveyed our members in October 2024, cost of living was the top concern, followed by limited supply. Now, with mortgage rates stabilizing, the focus has shifted back to availability,” says Wylde.

📊 Top Buyer Concerns:

  1. Lack of suitable properties despite high listings.
  2. Cost of living pressures.
  3. Securing the right price when selling their current home.

🏦 Property Price Predictions: What Kiwis Expect in 2025

Nearly half (49%) of those surveyed expect property prices to rise in the next 12 months, while 25% believe prices will remain stable and only 10% predict a drop.

“After a year of relatively stable prices, most New Zealanders anticipate a rise in 2025. With interest rates softening and many buyers eager to make a move, they might be right. However, the current high stock levels could help keep prices in check—for now.”

Interestingly, in March 2024, 65% of respondents expected prices to increase within the year, yet prices remained relatively unchanged.