Most active buyers think now is a good time to be in the market
The number of New Zealanders who believe that now is a good time to buy a property has reached a two-year high, according to a Trade Me survey of more than 2,500 active buyers and 3,500 homeowners.
The survey found that 61% of respondents felt now was a good time to buy, compared to 53% in October 2024 and 55% in March 2023.
Furthermore, 49% thought property prices would rise in the next 12 months, compared to 25% who thought they'd stay the same and 10% who expected them to fall.
Despite the number of for-sale listings on Trade Me hitting a 10-year high in February, buyers said a lack of suitable properties was their number one concern, followed by cost of living and achieving the price they wanted when selling their existing home.
How to conduct a successful property search
If you’re thinking about buying, now could be a good time to act, but it's important you approach the process in a structured, methodical way.
Before you begin your property search, work out how much you can comfortably afford. This includes your deposit, repayments, insurance and ongoing costs. A mortgage adviser can help you understand your borrowing power and find a loan that suits your situation.
Next, ask your mortgage adviser to help you secure a home loan pre-approval. One reason is so you can get a clear idea of your price range. Another reason is to show sellers you're a serious buyer, which will give you an edge over buyers who don't have their finance sorted.
As part of the search process, make a list of your must-haves and nice-to-haves. The perfect home is almost impossible to find; but there are numerous good homes out there, especially with so much stock on the market right now.
Once you've found a good home, do your due diligence – arrange a building inspection and review the property’s LIM report, to avoid nasty surprises later. If everything checks out, make a bid.
Reach out if you’re thinking about buying in 2025, so I can compare home loans and organise a pre-approval.