WATCH: Perspectives Property Report February 2025

Hello, I'm Mark Harris, Managing Director of New Zealand Sotheby's International Realty. Welcome to the first Perspectives property report of 2025. 

Over a month into the new year, the market is showing signs of renewed activity. While December 2024 saw fewer new listings, our team across New Zealand have been very active with both new properties and buyers in the market this January and February.

The Reserve Bank of New Zealand is expected to cut the official cash rate by up to 50 basis points later this month. As the year progresses, economists anticipate further or gradual reductions in the OCR, potentially dropping into the 3% range by the end of 2025.

This is good news for the market. Lower borrowing costs, improving consumer confidence, and encouraging sentiment, therefore creating a more favorable environment for buyers and vendors alike. Despite a quieter end of 2024, early 2025 data suggests the market is regaining traction. According to REINZ, December sales volumes were down from November, but still 1. 8% higher than the previous year. The shorter transaction window over the holiday period makes this a more encouraging result than it may seem at first glance.

While national listing numbers across all agencies hit a 17-year low in December, at NZSIR, we reported a 20% year-on-year increase in year listings, reinforcing the confidence and trust vendors placed in our globally respected brand.

Over a month into the new year, the market is showing signs of renewed activity. While December 2024 saw fewer new listings, our team across New Zealand have been very active with both new properties and buyers in the market this January and February.

The Reserve Bank of New Zealand is expected to cut the official cash rate by up to 50 basis points later this month. As the year progresses, economists anticipate further or gradual reductions in the OCR, potentially dropping into the 3% range by the end of 2025. This is good news for the market. Lower borrowing costs, improving consumer confidence, and encouraging sentiment, therefore creating a more favorable environment for buyers and vendors alike. Despite a quieter end of 2024, early 2025 data suggests the market is regaining traction.

According to REINZ, December sales volumes were down from November, but still 1. 8% higher than the previous year. The shorter transaction window over the holiday period makes this a more encouraging result than it may seem at first glance.

While national listing numbers across all agencies hit a 17-year low in December, at NZSIR, we reported a 20% year-on-year increase in year listings, reinforcing the confidence and trust vendors placed in our globally respected brand.

We also saw a 27. 3% rise in transaction numbers during the same period, proof that premium properties continue to attract motivated buyers when positioned correctly.

We're keeping an eye on some incredible properties currently on the market, each representing the best in luxury real estate.

 1 Te Kawau Pass, Greenhithe. Nestled in the serene landscapes of Greenhithe, this exquisite home combines modern luxury with exceptional privacy and convenience, a perfect setting for families who value both comfort and space.

23a Takutai Street, Parnell, a masterfully designed residents located in the heart of Parnell, blending contemporary style with a historic touch. This property offers both luxury and a sense of community.

We're also celebrating some remarkable sales that demonstrate the ongoing demand for premium real estate. 35a Blue Ridge Drive, Aquesia Bay, Taupo. This property achieved a fantastic sale price of $2.8 million, reinforcing the strength of the high-end market in the Taupo region.

Thank you for tuning into this edition of Perspectives. I look forward to keeping you updated throughout the year.

See you next time.