23/06/2025
“Most vendors saw market conditions improving, although this wasn’t immediately apparent, as vendors had the impression that the market was more active than it seemed. Attendance at open homes remained consistently busy, with some homes being busier than others. This suggests that there are still numerous buyers, but most are merely window shopping.
Auction room sales rates remained challenging, as reaching an agreement between both parties required effort and patience.
Factors such as the rise in available rental properties and new-build homes, buyers adopting a wait-and-see strategy, a lack of urgency to purchase, and concerns about missing out (FOMO), coupled with cost-of-living challenges, influenced market sentiment. For the upcoming months, local salespeople expect the market will continue to be steady, and with the anticipation of winter visitors arriving soon, they are hopeful this may increase market confidence.”
Disclaimer: Data sourced from REINZ. Data encompasses Cromwell Wards
