Sell now, buy in three months

Real-time data from realestate.co.nz shows that the tables are turning on New Zealand's hot property market. In March, Wellington tipped into a buyers' market, and during April Auckland followed the trendsetting capital. Average asking prices in these two main centres have also largely been on a downward trajectory since February 2022.

As we head into the next few months, vendors who have an open mind about their property values are more likely to achieve a sale in this new environment, particularly as we saw the volume of sales decrease over April compared to March. It makes sense to consider selling now with a three month settlement.

Westpac has forecast house prices will drop by 15 per cent in the next two years.

It is doubtful that interest rates will continue increasing and remember, the issue of affordability still remains. Interested to know more property hacks?

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