Property buyers are enjoying plenty of choice, with new figures showing listing activity remains strong across the country.
According to realestate.co.nz, there were 36,130 properties listed for sale in May, which was 5.0% higher than a year earlier.
The market also welcomed 9,521 new listings during the month, up 0.3% year-on-year and representing the highest number of new May listings since 2018.
Meanwhile, inventory levels sat at 24 weeks, meaning it would take about 24 weeks to sell all current listings at the recent pace of sales. That was slightly below the long-term average of 26 weeks.
Together, these figures suggest a market with healthy levels of stock and a steady flow of new properties coming onto the market.
What this means for buyers
A larger pool of listings generally gives buyers more options and can reduce the pressure to make rushed decisions.
With more properties available, buyers may have greater scope to compare homes, negotiate on price and take the time needed to complete inspections and due diligence.
That doesn’t mean buyers can afford to be unprepared, however. Well-presented and competitively priced properties can still attract strong interest.
Five ways to improve your chances
To maximise your chances of securing the right property at a fair price, you should consider:
- Obtaining mortgage pre-approval before starting their search.
- Setting a realistic budget and sticking to it.
- Researching recent sales in your target area.
- Acting promptly when a suitable property becomes available.
- Completing thorough due diligence before making an unconditional commitment.
These steps can help you move quickly when opportunities arise, while avoiding costly mistakes.
More choice, but preparation still matters
Strong listing numbers are good news for buyers, but finding the right property still requires planning and discipline.
It is also important to remember that affordability depends on more than just the purchase price. Interest rates, insurance, rates and maintenance costs all play a role in the long-term cost of ownership.
Strong listing numbers are creating opportunities for buyers, but securing the right property still requires preparation and discipline.
Having your finance arranged before you begin your search can give you greater confidence and flexibility when the right opportunity arises. Contact us if you’d like help with pre-approval, budgeting or planning your next purchase.
