While national sales volumes eased compared to the same time last year, it is important to keep the results in perspective. April included both Easter and ANZAC Day, creating multiple public holiday interruptions across the month, alongside significant weather events in several parts of the country that directly affected open home attendance and general buyer activity. In many regions, weekends that would traditionally see strong buyer inspection numbers were heavily disrupted by rain and poor conditions.

At the same time, the ongoing conflict involving Iran and the resulting pressure on fuel and living costs have continued to create global uncertainty. However, what the New Zealand market has demonstrated over recent months is that households and businesses are increasingly adapting to these pressures. Buyers remain active, sellers are still transacting, and well presented homes continue to attract strong interest when guided by experienced and competent real estate professionals.

The latest figures from the Real Estate Institute of New Zealand show that national sales volumes remain close to long term historical averages for April, despite the softer headlines. That is an important reminder that the market is not experiencing sharp declines, but rather a period of measured and more cautious activity following several years of economic adjustment.

Values across most regions also continue to show signs of stability. While there are regional differences, the broader trend nationally is one of steady pricing rather than significant correction. In Auckland, there are already indications that values are stabilising after previous softness, while regions such as Canterbury, Otago, Southland, Waikato, and Northland continue to show encouraging levels of activity and price resilience.

Winter has also arrived earlier than many expected this year, which is likely to influence buyer behaviour over the coming months. Traditionally, winter markets see lower transaction volumes as families become less inclined to move during colder months and shorter days. However, history consistently shows that serious buyers remain active throughout winter, particularly when interest rates are favourable and there is good quality stock available.

From a buyer perspective, current lending conditions continue to provide opportunity. Mortgage rates remain at some of the lowest levels we are likely to see for some time. Most major economists are now forecasting the likelihood of OCR increases later this year, potentially as early as the third quarter, which could place upward pressure on borrowing costs going forward. For buyers who are financially prepared, the current market therefore presents a relatively balanced environment with stable pricing, improved choice, and comparatively favourable finance conditions.

Inventory levels nationally remain elevated compared to previous years, providing buyers with greater selection and more time to make informed decisions. At the same time, properties that are well marketed, realistically priced, and professionally represented continue to achieve successful outcomes.

As we move further into winter, the market is likely to remain steady rather than dramatic. New Zealand property markets have repeatedly shown their ability to absorb economic and global pressures over time, and the current environment appears no different. Confidence may be more measured than in previous cycles, but underlying demand for quality housing remains firmly present.

Shaun Taylor, Chief Executive of Professionals Group NZ said the market’s performance through April reflects the maturity and resilience of both buyers and sellers.

“April was always likely to be a disrupted trading month given the combination of public holidays, severe weather events, and continued global uncertainty. Despite this, we are still seeing buyers active in the market, stable values across much of the country, and good results being achieved by experienced salespeople who understand their local market."

“For many buyers, current mortgage rates continue to present a genuine opportunity. While there is increasing expectation that interest rates may rise again later this year, today’s market offers stability, greater choice, and the ability to make considered purchasing decisions without the intensity we have seen in previous cycles.

“Property remains a long-term decision, and New Zealand’s housing market continues to demonstrate its resilience through changing economic conditions.”