The same goes for the residential housing market, which continues to offer opportunities despite coming off frothy pandemic-era highs.

Buyers and sellers are becoming busier and have been enjoying more stable and predictable market conditions to make their next move.

A significant lift in inventory has sent the clear signal that homeowners think it’s the right time to take their properties to market, and we’re seeing buyers respond with greater engagement and more enquiry.

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.