The market's been undeniably slow in recent months, but between stabilising interest rates and greater choice, buyers are starting to dip their toes in once more.
Recent interest rate hikes have hit the economy, hard. While the Reserve Bank forges on with aggressive OCR increases, the market is reading the signs.
While housing markets move in cycles, there is something very different about this downward leg of the housing cycle. But with the endgame upon us, will house prices stop falling?
Changes made to the official cash rate strongly affect floating mortgage rates, but when it comes to fixed rates it is expectations for what will happen with monetary policy that truly matter.
This month's housing market update brings reassurance for those feeling panicked about where interest rates could end up, and highlights opportunity for prospective home buyers.
Anyone who'd just got their foot on the property ladder when the market started to turn will be feeling rough after the last few months - but it's not all bad news.
I’ve just released the results of my latest survey and the numbers are not much changed from where they were at the end of June. Buyers remain in the shadows and prices are falling all around the country.
On average over the past decade there have been around 81,000 dwellings sold each year all around New Zealand, but the way things are tracking we look set to see a fall to around 65,000 within the coming year. How will we know when things are going to turn around?
The long-awaited return of choice to the housing market isn’t the only good news for first home buyers to be feeling positive about right now - changes to Kāinga Ora First Home schemes and CCCFA legislation add to the good news.
I saw a newspaper headline recently along the lines that house prices have now bottomed out because some banks have cut their two year fixed mortgage interest rates. But interest rates aren't the only factor causing house prices to go down.
Independent Economist Tony Alexander gives us a breakdown of what is happening in financial markets and the housing market.
So, the tables have turned and we've finally entered a buyer's market - but how do you navigate the apparent minefield of increasing mortgage rates and falling house prices?