September 2024 real estate results show signs of stability

Matt from Matt Wineera - Thats Real Estate with Matt Wineera

Some optimism returns to New Zealand’s property market The Real Estate Institute of New Zealand (REINZ) September 2024 figures show additional signs of stability as spring began and confidence increased among both vendors and buyers. According to REINZ Chief Executive Jen Baird, while the market remains subdued, there is a noticeable rise in positivity and confidence that things will continue to improve as we approach the end of the year. Despite lingering challenges such as the cost of living, many believe that the downward trend of interest rates will lead to a gradual recovery as we move into 2025.💰🏘️

Tauranga City Median Price
Sep-24 $890,000
Aug-24 $850,000
Sep-23 $875,000

Tauranga City Sales
Sep-24 232
Aug-24 232
Sep-23 189

Owner-occupiers and first home buyers were the most active buyer groups, with early enquiry from investors and retirees in Tauranga. Most vendor expectations were realistic and willing to meet market expectations. Others were still a bit optimistic and hoped for higher prices. Attendance at open homes improved, as those attending were well-researched buyers ready to transact as interest rates declined and the weather improved.☀️

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