Confidence in New Zealand's housing market is increasing

New Zealand buyers are becoming more optimistic about purchasing homes, according to Trade Me. Recent data shows that about two-thirds of people now believe it is a good time to buy. This is an increase from 53 percent in October 2024 and 55 percent in March 2023. Trade Me's spokesperson, Casey Wylde, noted that the market is changing. A decrease in the official cash rate and retail interest rates is boosting buyer confidence. However, there are still worries about a lack of suitable housing, despite listings being at a 10-year high. Wylde pointed out that different regions are experiencing different trends. For example, Canterbury is showing more stability than other areas. She also mentioned that interest in homes outside major cities is increasing, as more people can work from home. Despite the high number of listings, many buyers are frustrated by the limited choices available. In a survey, the main concern was the cost of living, followed closely by the shortage of suitable properties. Almost half of those surveyed believe home prices will rise in the next year. Wylde predicts that the positive trend in the housing market will likely continue. She expects to see more activity from buyers in the coming months.