October Update

As we move through October, conditions across the New Zealand property market continue to favour buyers in a number of important ways.

There is of course some uncertainty around the broader economy, with factors such as global fuel prices, inflation and the upcoming OCR review on the 28th of October continuing to influence sentiment.

However, the current market presents a favourable combination of increased housing supply, more measured buyer demand and strong competition between lenders.

For those in a position to buy, this is creating an environment where there is greater choice, more room to negotiate and an opportunity to make decisions based on value rather than urgency.
 
More choice for buyers
Auckland saw 1,769 new listings in September, up 21% from August. However, sales remain relatively slow, with 768 properties sold - down 26% from September last year.

If you’ve been waiting on the sidelines to secure your (first) home, current market conditions are working directly in your favour:

Buy Without the Pressure: The era of rushed decisions and frantic auction rooms has given way to thoughtful, strategic buying. You can do your due diligence, compare options, and put forward confident offers.
 

Smart Mortgage Options: Banks Are Competing for Your Business

Despite ongoing economic uncertainty around global energy prices, currency movements and the RBNZ’s late-October decision, the banks are competing aggressively for your home loan business.
 

Sub 5% Short-Term Rates: Aggressive lender competition is keeping 6-month and 1-year special fixed rates sharp, with top offers holding below or around the 5% barrier.

Long-Term Peace of Mind: For homeowners seeking certainty against cost of living adjustments, 2 to 3-year fixed terms offer budget stability at attractive levels.

Structure to Win: Current conditions make it an ideal time to split your mortgage across multiple terms, balancing competitive short rates with long-term security