What a weekend it was! New Zealand witnessed both triumph and change in a whirlwind of events. The All Blacks emerged victorious in the quarter-finals, and the political landscape shifted as the country welcomed a new leader.

AUCKLAND, New Zealand (AP) — In a resounding election win, Christopher Luxon, a former businessman with conservative values, secured his place as New Zealand's next prime minister. Meanwhile, the rugby fever intensified as the All Blacks conquered Ireland in the Rugby World Cup 2023 quarter-finals at Stade de France, paving their way to a semi-final showdown with Argentina.

Is it all onwards and upwards from here?

As real estate agents, we maintain a cautious optimism. While there's much cause for celebration, our hearts go out to those enduring the dire situation in the Middle East, and we remain mindful of persistently high inflation rates. As of the September 2023 quarter, Stats NZ reports an annual inflation rate of 5.6%, showing a slight decrease from the 6% recorded in the previous June quarter and a notable drop from last year's peak of 7.3%.

The good news is that mortgage lending rates and living costs are showing signs of stabilization throughout New Zealand. First-time homebuyers are spearheading the market, with a noticeable surge of interest in the $900k to $1.3 million price range. Early indicators suggest that buyers are gaining confidence, particularly as we approach the summer season.

The message is clear: the time to act is now. Don't wait for the perfect moment because, in this dynamic environment, the best time to buy was yesterday.

Is it onwards and upwards from here?

FOMO is definitely back

What are buyers and sellers are thinking?