It's finally time to bid farewell to 2024. As New Zealand householders, many have had to deal with a cost-of-living crisis, workplace uncertainty, and house value erosion. It really does feel to most who I have talked to that people are looking forward to having a summer break. A break most are feeling entitled to have after recent years of turmoil.

The upside is that for many, the outlook for 2025 is pretty good. While the statistics are still telling us that costs and asset values are not getting any worse, they certainly have not become dramatically better. Generally, though we seem to agree as a community that the prospects going forward have good reason for us to be just a bit excited about the coming year.

For real estate in our area, we had thought that there might be a bit of a ‘rush’ of activity before Christmas. Especially due to the interest rate news we received last month. It seems that people have heeded the warnings that dramatic falls in interest rates are not going to happen and equally so, dramatic rises in real estate prices will also not come back to the fore. We have optimism coupled with a strong appetite for a “steady as it goes” approach.

The ‘green shoots’ of that confidence are showing in various different corners of the market. Some properties are still struggling to get interest, whilst large numbers are attending other property open homes. There seems to be a ‘wait for the new year’ approach from many vendors. We have seen this with a particularly noticeable drop in the number of available properties currently listed.

I often say that real estate never stops. It only pauses. People need to move. Life carries on and changes to homeowner circumstances unavoidably happen. What the market gets is a delay. If people who want to move are not confident, they will postpone their move until they feel it is the ‘right time’ to do so. I suspect in 2025 we will see that confidence come back and people who have delayed their upgrading, downsizing, or investing will begin to get back on the proverbial real estate ladder. Prices, well I don’t see any dramatic upswing. But sales numbers, yes. We expect that for both buying and selling, transactions will be more frequent in 2025.

Making sure you get the most out of your sale will become very critical. To be certain that you get the sales outcome at the right time, your choice of salesperson has never been more critical. Results can vary between salespeople. The right one will give you a better chance to profit from your sale. Our team at EVES know how that is done. Have a chat with them and learn more about what we do to add value to your sale.

Merry Christmas and Happy New Year!

See you in 2025.