Recent sales activity for Ray White has maintained the year-on-year increases enjoyed over the last few months, but we’re looking forward to shifting the cart into second gear.

Our Ray White technology platform has been a key focus in 2023 and will continue to be vital in 2024, allowing our 197 branches to connect with customers through real-time data and sales insights, offering an edge in fluctuating market conditions.

New Zealand might still be waiting to finalise some important policy decisions, but Kiwis are transacting with greater confidence.

The window of opportunity is rapidly closing on the buyer’s market, as residential sales activity continues to lift in the wake of greater certainty and a new government.

We’ve recently had time to reflect on some incredible achievements by the Ray White network over the past 12 months, which has presented some of the most uncertain market conditions experienced by many real estate professionals throughout their careers

July marked the second consecutive month of positive readings with a bearing on residential sales activity, suggesting we’re now past the market trough and headed into the upcycle.

The outlook for New Zealand’s residential market is changing, with the tug-of-war between demand and dampening factors beginning to turn the dial back to a more balanced market, and in some cases now favouring sellers.

Ray White properties listed for sale by auction spent an average of 37 days on the market, whereas those listed for private treaty took 56 days to sell. This demonstrates buyers’ increased engagement and a sense of urgency to purchase quality property.

Ray White properties marketed for sale by auction spent a median of just 35 days on the market during March - a discussion point for sellers as downward pressure on values generally continues the longer a property remains available for sale.

The property market comprised a lower level of activity during February, partly due to the weather events but also the slower start with new listing activity and buyer interest.