The market share for first home buyers in 2020 reached 25 per cent in the third quarter, well above the previous average and the peaks of 2006/2007.

We enter 2021 confident that key indicators will support a strong market. Auctions provide transparency in competition, and effective marketing and skilled agents remain crucial in driving property prices.

Interest rates continue to underpin purchasers buying power and today interest rates are at record low levels, advertised from 1.99 per cent fixed for one year with the OCR remaining at 0.25 per cent since 16 March 2020.

The Ray White Group had its best-ever sales in November, as confirmed by data from the Real Estate Institute of New Zealand, showing the highest property sales since March 2007.

While it is a time of year when sellers begin to explore their options for selling, we believe it remains an opportune moment to promote property to the marketplace.

Looking at our real-time data this week, there has been a continuing lift in the supply of property coming to the market.

This is the fourth week in a row where we’ve had an increase of property listings and it is at the highest level adding a further increase of 120 to 2,559.

Just as a rapidly improving market can catch buyers, sellers, and commentators off-guard, as we have recently experienced

Our real-time analytical data shows an increase in new properties coming to the market this week.

Ray White New Zealand this week completed a record sales month for October with $1.644 billion worth of sales which was an increase of 83.6 per cent on the same time last year while the sales numbers surged to 2,031, up 50.6 per cent in October 2019.