Buyers having the maximum financial capacity to purchase a property is one of the key leading indicators when it comes to buyer confidence.

For Ray White last week, while there has still been a tail of virtual auctions, the majority of the areas have now moved their auctions back into rooms or on-site with safe practices, social distancing and requirements for contact tracing and registering.

Interest rates continue to be a key driver of the confidence for those buying property. Affordability is allowing more first home buyers also to consider purchasing property.

The government will tighten Auckland to Alert Level 2 with a 10-person limit on gatherings, while the rest of the country stays at the current Level 2, real estate activity to continue via virtual auctions, controlled open homes, and safe distancing.

Ray White New Zealand for the month of July recorded an increase in sales numbers by 36.2 percent and volume turnover increased by 52.6 per cent. This was a record month for the company with 17 offices achieving personal best results.

This week, the Reserve Bank of New Zealand will evaluate the strength of the economy and may introduce monetary policy changes, including potential adjustments to interest rates or bond purchases.

According to realestate.co.nz, there were 8,808 new property listings nationwide, a 20.7% increase. Auckland led with a 39.7% rise, followed by Hawkes Bay at 31.1%, while Central Otago, Southland, and Wellington saw increases between 15% and 20%..

This week, real-time data shows a slight increase in sales across New Zealand, while listings are slightly down. Despite tight supply and demand, buyers still have options, with properties spending less time on the market.

In June, Ray White New Zealand saw a 12.3% increase in sales and a 31% rise in new properties listed, reflecting our effective marketing strategies and increased buyer confidence, supported by low interest rates enhancing home affordability.

High buyer activity, driven by auctions and strong indicators like open home attendees and pre-approved buyers, is fueling multiple offers and an upward market trend compared to last year.