It’s been a tough market for people looking to sell their house over the last few months, but there are positive indications of better times ahead, especially here in Central.

According to CoreLogic NZ's monthly update, there are signs of stabilization in New Zealand's property market.

Those signs include a reduction in price falls, an easing in listing numbers, and lower sales volumes.

Although house prices continued to fall last month, the market fundamentals are showing resilience. Together with the stabilisation of mortgage interest rates that indicates a possible end to the country's extended property downturn.

Realestate.co.nz data also shows that sellers are being realistic about asking prices. The gap between average asking price and median sale price has remained fairly constant over the past 16 years, suggesting sellers are meeting the market.

While uncertainty remains high, confidence is growing that the market's downturn could end in the second half of 2023.  That’s influenced by factors like continued high employment levels, rising net migration, and the possibility of some investors returning to the market.

Additionally, it's worth noting that the Central and Lakes areas in New Zealand are continuing to attract buyers from across the country due to their desirable lifestyle.

Our regions offer stunning natural landscapes, outdoor recreational opportunities, and a relaxed pace of living, which has made them a popular choice for those seeking a change of scenery.

With the property market showing signs of stabilization, it could be an excellent time for buyers to consider investing in these areas to enjoy the perfect lifestyle.

I’ll keep you updated on property market trends over the year, but if you have any questions about buying or selling in the meantime, please get in touch.