Even though 2025 has just begun, realtors believe the positive activity in east Auckland’s real estate arena at the end of last year will continue through summer and into the beginning of autumn.
At the tail end of 2024, the Times asked real estate branches for their thoughts on how the spring season went and what’s in store for the start of this year.
Ian Taylor, of Ray White Howick and Botany, says the spring season was “active and promising”.
“Both offices reported strong sales activity, with various auctions and listings reflecting steady demand.”
Taylor says it was an improvement from the middle of last year, when it was a “slower market pace, with house prices showing declines or stagnation in some areas compared to previous years”.
“These trends were driven by higher interest rates, tighter lending conditions, and broader economic uncertainty.
“However, by spring, there were signs of stabilisation and moderate recovery. Sales volumes showed improvement, partly due to seasonal demand and increased buyer confidence as the market adapted to the new norm.
“In east Auckland, a high-demand area, property values remained relatively resilient, supported by the appeal of its location and quality housing stock.
“This reflects the broader trend where local market conditions, inventory levels, and buyer activity shape price movements.
“For Ray White Howick and Botany, leveraging their strong market presence and high-traffic locations has allowed us to adapt and thrive amidst these challenges.
“There’s a healthy supply of properties available for sale in Howick and Botany, across a wide range of price points, styles, and locations.
“This diversity ensures buyers have options, from modern family homes to investment opportunities.
“The offices are seeing strong interest from buyers and sellers, indicating a balanced market.”
Taylor says the market has tipped slightly in favour of home buyers in many parts of New Zealand, including Howick and Botany.
“However, our vendors are achieving some great results.”
Taylor says while lower interest rates make borrowing more affordable, other factors continue to temper the market’s recovery.
“For instance, house prices have not significantly rebounded due to stretched affordability and high stock levels, giving buyers leverage in price negotiations.
“Elevated listings, particularly in regions like ours, indicate a buyer’s market persists, albeit with slight signs of improved demand.
“While the Official Cash Rate (OCR) reduction encourages optimism, concerns about job security and broader economic uncertainty remain significant, particularly in areas where employment conditions have softened.
“Thus, the OCR’s influence has provided some relief but not a full market turnaround.”
Lauren Mirabito, branch manager for Bayleys Howick and Beachlands, says at the end of 2024 they’d seen “renewed buyer confidence and energy”.
“However, many buyers are limited by bank lending, and interestingly builders are being negative.
“We have had a few fall on builders’ reports where builders have been very negative about little things and put buyers off.”
Mirabito says 2024 finished “active in listings and sales including successful auctions” for Bayleys.
“People need to make decisions at that time of year, so we saw those that have held on having to decide what next now – both buyers and sellers.”
Mirabito says house prices in east Auckland “have not risen, there is just more competition and it’s a balanced market”.
“Stock levels are consistent. We also have a large number of homes ready to go live in January and February.”
Recent reductions in the OCR have “definitely” had an impact, Mirabito says.
“It has given people confidence and light at the end of the tunnel.
“Finally, there is pressure release with lowering interest rates. We’re not there yet, but people are feeling buoyed and empowered to make informed decisions.”
Peter Thompson, Barfoot and Thompson managing director, says Auckland’s property market in November saw prices and sales numbers increasing.
“Sales for the month at 1002 were up 6 per cent on our average monthly sales for the previous three months, and it was the first time in eight months our sales have exceeded 1000.
“Prices were also up, with the median price at $1,011,000 pushing above the $1 million mark for the first time in five months,” Thompson says.
“The median price was 6.8 per cent above the average price for the previous three months.
“The average price at $1,132,795 was 2.4 per cent above that for the previous three months.
“This lift in sales and prices will add to the growing confidence homeowners and buyers have that the worst is over for the housing market, and that stability is returning.
“The continued outlook for falling mortgage interest rates, a declining rate of inflation and
expectations that the economy is edging towards recovery are all contributing to the resurgence in housing activity.”
Thompson says market choice for buyers “remains at a decade-high level”.
“While November’s strong trading set the market up for an active summer’s trading, high stock levels will likely contribute to price increases being restrained.”
