With Limited Stock and Eager Buyers, Opportunities are Abound – Recently we meet with leading economist, Brad Olsen, predictions are that New Zealand’s property market is gearing up for a last-minute Christmas boom, offering sellers a golden opportunity to make their next move and for buyers, quality property to the market which is current slim pickings. While traditionally a quieter period for real estate, the 2023 holiday season is shaping up to be anything but, with a unique set of circumstances all contributing to this.

Low Stock, High Demand

The current situation in the New Zealand property market can be summed up in a single phrase: limited stock. A shortage of available properties is creating a competitive landscape for buyers, driving them to be more proactive in their search for a new home.

We on the property “shop front” believe this is partly due to the current economic condition, the election, acclimatisation of buyers to increased interest rates and loosening of restrictions on financing also coming into play. This scenario has created an environment where vendors are holding off, but buyers are back in the market researching and actively purchasing property and following recent years the idea of searching for a home, even as the holiday season approaches has become the norm.

Less Competition for Sellers

With fewer properties available on the market right now, sellers have a unique advantage. The scarcity of listings means there is less competition among sellers, increasing the chances of obtaining an optimal price for your property.

This limited stock also means that buyers are more likely to act quickly when they find a property they like, plus we are actively working with buyers in their search and are seeing more “off market” sales than ever before. This can work in favour of sellers who are looking for a swift and stress-free sale (especially so, leading up to the crazy Christmas period!).

The New Zealand property market’s unexpected late-year surge presents a lucrative opportunity for sellers. Right now, sellers have opportunity – buyers are actively looking, and they’re willing to make decisions. We are seeing flexibility to be able to negotiate Vendor terms (longer settlement dates or other requirements that our Vendors are seeing as roadblocks to being able to make their next move) making for an attractive selling market.

With limited stock and motivated buyers, this Christmas season could be the perfect time to list your property. As buyers continue their search for their dream homes, sellers can embrace the festive spirit and make the most of the less competitive landscape.

If you have been considering selling, and whether now or in the New Year is better, call to us for a confidential discussion about how we can guide you on achieving your best possible outcome.